Carsales studies seller’s used automotive listings down 3.4% 12 months on 12 months

For the primary time since February 2020, carsales has seen a year-on-year (YoY) decline in median used automotive costs – with the typical itemizing worth for seller used vehicles at the moment down 3.4% YoY (as at Could 31, 2023).

In Could 2023, the highest three most searched seller used automobiles had been the Ford Ranger, Toyota Hilux and Toyota LandCruiser Prado.

The Ford Ranger Wildtrak 2017, Toyota Hilux SR5 2018 and Toyota LandCruiser Prado GXL 2015 are simply a few of the fashions which have gone from a median worth of above $50K in Could 2022, to a median worth of $46,500, $49,900 and $44,300 respectively in Could 2023.

“The used automotive growth has been a relentless speaking level amongst Aussies for the reason that begin of the pandemic when contributing components akin to shopper demand, restrictions on buying and selling skill and availability of new vehicles got here into play,” mentioned carsales Editor-in-Chief, Mike Sinclair.

“At the moment, we’re seeing some worthwhile reductions and whereas it’s unlikely used automotive costs are going to drop massively, it’s nonetheless excellent news for Aussie automotive consumers.

The Finish of the Monetary Yr (EOFY) is simply across the nook and whether or not Aussies want to purchase a second automotive for the household, commerce in an older automobile, discover the final word first automotive for an keen L or P-plater or buy a automobile for business wants, the time is true to get in contact with native sellers.

“Shopping for throughout EOFY is an effective time to ask questions, keep agency in your funds, do your due diligence, and examine all choices – there could also be demo automobiles accessible as sellers look to clear the decks or maybe an older mannequin you’ve had your eye on is promoting for a barely extra inexpensive worth,” he says.

Sinclair says the rise in new automotive costs will maintain used automotive costs stable.

“The connection between the value of latest vehicles and used is clear. We’re paying extra for brand new vehicles and that can proceed to be mirrored in used costs,” he says.