How to Buy a Used Car
Our tips and expert picks will help you find a reliable pre-owned vehicle at a price you can affordBy Benjamin PrestonUsed-car prices have soared this year, and according to market analysts, they ’re likely to remain high for a while. The reasons are complicated. In short, a global microchip shortage has meant that automakers can’t build new cars fast enough to meet demand. Fewer new cars for sale has increased demand for used cars, pushing prices up more than 40 percent above normal levels this past summer.
A higher demand for electric cars and a faster conversion of production would pay off for German car manufacturers, according to the management consultancy BCG. The chances of a rapid transformation are greater than the loss of loss. © Marijan Murat/dpa German car manufacturers could benefit from a quick switch to electric cars, according to a study by the consulting firm BCG.
European carmakers have an advantage with an electric share of 8 to 9 percent, said BCG partner Kristian Kuhlmann. Asian and American volume manufacturers would still have to invest considerably to keep the connection. "Around 2030, manufacturers can make more profit with electric vehicles than with comparable petrol and diesel cars," said Kuhlmann. The global market share of e-cars (BEV) should increase to 40 percent by then.
Used cars have depreciated slightly—when to expect the car market to be normal again
Automotive analysts predict new vehicle prices will remain elevated — and possibly continue to rise — while used-car prices may moderate slowly.Don’t expect car prices to drop significantly anytime soon.
Opportunities for volume manufacturers
In a significantly faster market wheal, European premium manufacturers could increase their cumulative profit by 2040 by up to 30 percent, European volume manufacturers by up to 10 percent, according to a study by BCG and the initiative AGORA Traffic transition.
, on the other hand, if there are delays in electromobility, for example due to bottlenecks in the supply chains or when setting up the charging infrastructure, the European premium manufacturers and BEV patterns among the European volume manufacturers threatened to drop in profits of up to 10 percent.
Agora Transport Director Christian Hochfeld called for a faster switch to electromobility to comply with the requirements of the Paris climate protection agreement. The federal government must support other countries more in electromobility and adapt the vehicle tax in Germany and create a good charging infrastructure as well as favorable location conditions for batteries.
Top advantages to buying a used car .
A used car can look as good as new, and it doesn’t have the surprising hidden costs of a new car.Going for a used car rather than a new one can save you big bucks in several ways. A used vehicle will cost less based on sticker price alone — but that’s not where the savings stop. You will also be reaching for your wallet much less than if you drove a brand-new vehicle in terms of fees, insurance and vehicle depreciation.