The end of the lockdown in November flooded the second-hand market, pushing prices down.
Good news if you want to buy a used car, but probably bad news if you want to sell one: used market prices are plummeting.
In any case, this is the conclusion of a study conducted by The parking, this search portal which brings together most of the large classified ads sites. During these first two weeks of 2021, nearly 87% of sellers, pros and individuals alike, have revised their prices down.
A wave of new announcements after containment
According to the study, the cause of this price drop is simply linked to a drastic increase in the number of offers. The pros and dealers have indeed just put back on the market cars that they had to keep during the lockdown of November 2020. In total, 55% of online classifieds on these sites date from recent weeks, the second most high score in Europe behind Italy (72%).
If France is heading towards a third lockdown, prices could go up. If, on the contrary, vaccination allows a gradual return to normal in the coming months, the market should then stabilize. In short, if you want to sell your car, wait a bit. On the contrary, if you are a buyer, now is the time!
Source: Le Parking via the Auto Journal