For the first time in Spain, the average price of a used vehicle exceeds 20,000 euros. After six months of consecutive decline, which could herald the end of a cycle, the average offer price of a second-hand car rose again in August. Specifically, 3.6% to leave the average price at 20,566 euros, according to barometer data from the autos.net buying and selling platform.
The annual growth of 3.6% is supported by increases both compared to the previous month (3.8% compared to July) and in the quarter (7.6%). Furthermore, a surprising fact is that in 27 Spanish provinces the price of second-hand vehicles has reached record levels.
Murcia is the autonomous community with the highest average price, one more month. Purchasing a used vehicle can cost on average 22,388 euros. It is the only one that exceeds the psychological barrier of 22,000 euros and the one that grows the most: a spectacular 18.1%. It is followed, as happened in July, by Asturias (21,982 euros).
Madrid, with an average price of 21,297 euros (increasing 4.3%) and Catalonia, where the average price has stood at 21,254 euros (increasing 3.2%), are in third and fourth position respectively. Both exceed the range of 21,000 euros, something that does not happen in the other communities of Spain.
On the other side of the scale, the region of Spain with the lowest average offer price is Cantabria, which does not reach 18,000 euros. Specifically, 17,852 euros. That represents about 4,500 euros difference compared to Murcia.
Regarding interannual variations, the community that experiences the greatest average price decrease is the Canary Islands, with a drop of -7.9% compared to August 2022.
The age of second-hand cars is also not immune to this upward trend in prices, since there have been year-on-year increases in all age groups without exception. Those that have grown the most, cars between 4 and 5 years old (2.7%) and those that have grown the least, those between 1 and 3 years old (0.5%).
Pre-owned ones have increased by 1.4% and on the other hand, on the other side of the scale, the price of older ones, that is, those more than 10 years old, has increased by 1.9%.
In total, 162,460 second-hand cars were sold in August, according to data from Ideauto, which means an increase of 9.1% in year-on-year terms. However, if compared to the month of July, sales suffered a drop of 2.3% in August.
The best-selling used cars in August continue to be those powered by diesel (90,388 units), which represent 56% of the total, followed by gasoline ones (61,261), which represent 38%. Only the remaining 6% are made up of hybrid and electric models.
In fact, second-hand cars over ten years old are, by far, the best sellers in Spain: 92,188 units, which represents more than half of the total. Pre-owned vehicles - less than a year old - (6,666 units) only represent 4% of total used sales.
