Car prices reach all time high in Switzerland
Prices rose again in 2023 of both for new and used vehicles, reaching a new record high. Despite this, the range of vehicles being sold has only expanded.
Prices for new vehicles have risen by 5% and those for used vehicles by 4% over the last twelve months, according to the online car sales platform Autoscout24. In 2023, prices reached a new record: a new car cost an average of CHF 60,000 ($69,760) and a second-hand one CHF 37,000, according to a press release on Tuesday.
With the exception of the minivan category, which recorded an increase of more than 12%, all other models posted moderate increases of between 1% and 5%.
By type of fuel, new petrol-powered cars saw the biggest increase at 12%, compared with 10% for electric cars and 6% for hybrids.
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For the first time since 2019, the supply of new vehicles increased by 13% to 122,140 units.
“This greater availability offers greater choice and could also be a sign of lower prices in the coming months,” said Autoscout 24 director Alberto Sanz de Lama.
In 2023, the number of new car registrations rose by around 12% year-on-year, and more than 750,000 vehicles changed hands. A lower level than in 2019, but one that sends out a positive signal of recovery in the Swiss car market, according to Autoscout 24.
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