Used car sales in Serbia are one percent higher than in 2019, the year before the pandemic, and used car prices have risen by 23 percent, according to a survey and analysis presented by the website Used Cars on Wednesday.

Romana Ranković of Used Cars estimated that the pandemic had a major impact on the used car market.

“The main reason is the more difficult procurement of certain components for the manufacture of cars, which leads to a lack of production of new ones, and then it affects the market of used cars. The supply of used cars on the foreign market has been reduced, and therefore also in our country. This, with the current demand, leads to an increase in prices, “she said in a statement to Tanjug.

The analysis of the data from that website showed that the sales of used cars have increased by about 10 percent this year compared to 2020.

“Sales almost reached the period before the pandemic and recorded an additional growth of one percent,” she said.

Compared to 2020, the prices of used cars are almost 20 percent higher, and compared to 2019 by 23 percent.

“Buyers and sellers are noticing rising prices, and they expect prices to continue to rise in the future,” she said.

Market stabilization will not be fast

For sellers, the lack of supply due to the pandemic is the biggest challenge for businesses, while the majority of buyers believe that the supply of used cars is unchanged.

As has been said, the players of this market expect that the effects of the pandemic will be felt for some time to come in the sale and purchase of used cars.

“We expect a somewhat slower stabilization of the market, ie slower achievement of the balance between supply and demand,” said Romana Ranković.

Volkswagen – and the rest

The most sought after used cars in Serbia are Volkswagens, followed by cars manufactured by Opel, Audi, Peugeot, Renault and Fiat.

4,456 buyers and 302 car dealers participated in this survey on the impact of the pandemic on the used car market.

(Tanjug, B92)

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