October 1, 2023


Just Do Automotive

Carsales studies seller’s used automobile listings down 3.4% yr on yr

2 min read

For the primary time since February 2020, carsales has seen a year-on-year (YoY) decline in median used automobile costs – with the common itemizing worth for seller used automobiles at the moment down 3.4% YoY (as at Might 31, 2023).

In Might 2023, the highest three most searched seller used automobiles have been the Ford Ranger, Toyota Hilux and Toyota LandCruiser Prado.

The Ford Ranger Wildtrak 2017, Toyota Hilux SR5 2018 and Toyota LandCruiser Prado GXL 2015 are simply a few of the fashions which have gone from a mean worth of above $50K in Might 2022, to a mean worth of $46,500, $49,900 and $44,300 respectively in Might 2023.

“The used automobile growth has been a relentless speaking level amongst Aussies because the begin of the pandemic when contributing elements similar to client demand, restrictions on buying and selling skill and availability of new automobiles got here into play,” mentioned carsales Editor-in-Chief, Mike Sinclair.

“Presently, we’re seeing some worthwhile reductions and whereas it’s unlikely used automobile costs are going to drop massively, it’s nonetheless excellent news for Aussie automobile consumers.

The Finish of the Monetary 12 months (EOFY) is simply across the nook and whether or not Aussies wish to purchase a second automobile for the household, commerce in an older automobile, discover the final word first automobile for an keen L or P-plater or buy a automobile for business wants, the time is true to get in contact with native sellers.

“Shopping for throughout EOFY is an effective time to ask questions, keep agency in your funds, do your due diligence, and examine all choices – there could also be demo automobiles out there as sellers look to clear the decks or maybe an older mannequin you’ve had your eye on is promoting for a barely extra inexpensive worth,” he says.

Sinclair says the rise in new automobile costs will preserve used automobile costs stable.

“The connection between the worth of recent automobiles and used is clear. We’re paying extra for brand new automobiles and that can proceed to be mirrored in used costs,” he says.

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