Inflation hits buyers twice and trebly
The German motorist has to endure a lot: The delivery times for new cars have been long for months, and it is just getting more expensive at the gas station again. The prices for buying a new set of wheels are also increasing. Experts from the Center for Automotive Research expect things to get much worse for car buyers.
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Autopapst Dudenhöffer expects prices to explode for new cars
Whether at the gas station, when shopping for the week or on the bill for ancillary costs – prices and costs currently only know one direction practically everywhere: upwards. The auto market is no exception. Prices have been rising for months. The car experts from the Center for Automotive Research (CAR) around Ferdinand Dudenhöffer state in their current analysis: “Inflation has arrived in the German new car market” (Source: World).
Exactly what that means becomes clear when you look at the average prices of the 30 best-selling cars: Um 7.5 percent the prices for combustion engines increased in August 2022 compared to the previous year. 31,913 euros buyers had to pay on average.
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Electric cars are hit even harder by the price increase: compared to the previous year, there was an increase of 8.2 percent. For the 15 best-selling e-cars in Germany their new owners paid an average price 42,786 euros. So far, however, the price increase has not really got going. According to CAR, the main reason was the high demand, which met an offer that could not keep up for various reasons.
Actual inflation, on the other hand, is only now taking effect – and will Screw prices to completely different heights. On the one hand, the high energy and raw material prices that car manufacturers have to pay will continue to have an impact on end customer prices in the coming months.
Cars are becoming more and more expensive, even with e-cars the cost advantage is shrinking over time:
Double inflation: owning a car will soon only be for the rich
A second factor then makes the new car even more expensive for the buyer: rising interest rates may be good for the account, but they also ensure that the costs for loan financing, leasing installments and the prices of subscription models for new cars will rise. “Since more than two-thirds of new car registrations by private customers are based on credit agreements, there is a double inflationary effect”says car pope Dudenhöffer.
Thirdly, many automakers have prioritized more expensive models. This has secured juicy profits during the months of production restrictions. The selection of affordable models, on the other hand, has decreased. All of these effects mean that a new car – like some used ones – is an option for fewer and fewer people. That The car is increasingly becoming a luxury goodwhich not all German citizens can afford for a long time.
