Statistics: Half a Million More Cars - Boom in Used Vehicles
The number of vehicles in Germany has significantly increased during the corona crisis. According to data from the Federal Motor Transport Authority, the number of newly registered cars rose by about 500,000 units, including many used cars, especially older combustion engines. The average age of registered passenger cars increased from 9.6 to 9.8 years, driven also by 126,000 cars that are older than 30 years. In the "classic car" segment, the number of registrations even increased by 15 percent. Recently, automotive scientist Ferdinand Dudenhöffer also stated, following an analysis of the vehicle population in German cities, that there is no trend away from cars. There are now 580 vehicles per 1,000 inhabitants across Germany.
The German Automotive Trust (DAT) also confirms the trend and sees a particular increase in demand for diesel models, along with their prices. These have increased by five to seven percent, according to estimates. Apparently, fewer new cars were bought during the corona pandemic due to factory closures and partly long waiting times, and corporate fleets were less modernized, also due to home office arrangements. Thus, significantly fewer vehicles came onto the used car market, and the number of day registrations also declined. At the same time, demand apparently increased, as many customers purchased a car out of fear of infection during the lockdown. According to DAT, inventories have never been so low, especially for young used cars. Here, 77 percent of dealers reported that it is currently difficult to purchase vehicles. It is expected that the shortage will continue, as new car production is also now being slowed by the shortage of semiconductors.
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