Used hybrids and electric vehicles still becoming cheaper

In its latest quarterly report, La Centrale observes a decline in the price of used vehicles in 2023.

After a first half of rising prices in 2023, the median price of used vehicles has decreased by -1.79% in the last quarter of 2023. This represents the most significant quarterly decline since the pre-COVID era and since December 2019.  The price of vehicles aged 0 to 2 years experiences the steepest decline among all age categories, falling by -2.98%, benefiting from the restocking of recent vehicles. Conversely, their prices continue to increase by +3.41% over the entire year 2023 due to the rising relative cost of newer, more advanced vehicles, and the increasing electrification of the fleet.

Contrary to the downward trend in the last quarter of 2023, vehicles aged 8 years or more experience the strongest price increase among different age groups: due to the inflationary context and decreasing purchasing power, demand continues to shift toward entry-level prices and thus toward older vehicles. This trend is particularly marked throughout 2023, as the prices of vehicles 15 years and older jumped by 22.92% compared to 2022.

Used electric and hybrid vehicles becoming increasingly competitive

Over the year, used electric and hybrid vehicles experience the largest price decline, decreasing by -12.81%, or €4,700 less than at the end of 2022. This positive trend is mainly explained by the increase in the volume of available used electric vehicle listings, which has risen by 180% compared to last year on La Centrale.

This growth in the number of used electric vehicles coincides with a slowdown in the decline of diesel vehicle prices, resulting in narrower price gaps between different powertrain types. For example, in 2022, a used electric vehicle cost €14,190 more than a diesel vehicle, whereas by the end of 2023, this difference has decreased to an average of €9,600.

The largest quarterly price decrease by powertrain type occurs in used petrol vehicles, with prices dropping by -2.50%, reaching -4.41% over the year.

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