Secondhand car prices in Spain seem to have peaked

The average price of used cars in Spain rose just 0.1% in January compared to the same month in 2022, to stand at 19,379 euros, which is the lowest year-on-year increase since August 2020, according to data from the monthly barometer of Coches.net. The report also highlights that in month-on-month terms the price has fallen by 0.9%, accumulating three consecutive months of falls.

"These January figures show that the average price of used cars seems to be reaching a plateau after the huge rises of the last two years. This price containment is mainly due to a recovery in supply, which has grown by 4.1% compared to January 2022," said Marcel Blanes of Coches.net.

Asturias, with an average price of 20,512 euros (+3.9% year-on-year), is once again the region of Spain with the highest average offer price for secondhand vehicles. After Asturias, the following regions with the highest prices are: Catalonia, with 19,887 euros (-3.3% ); Madrid, with 19,878 euros (+0.6%); Castilla y León, with 19,433 euros (+4%); Galicia, with 19,416 euros (+4.9%); Andalucía, with 19,374 euros (-0.1%).