Although growth in the volume of used car transactions in Germany slowed to just 1.0% in 2016 according to data released by the German federal transport agency Kraftfahrt Bundesamt (KBA), a survey conducted by Automobilwoche reveals a broadly optimistic outlook for Germany’s used car market in 2017.
Thorsten Barg, country manager for Germany at Autovista Intelligence’s sister division, Schwacke, sees a growing supply of vehicles of all ages. This will satisfy healthy demand, bolstered by low interest rates, resulting in residual values maintaining their high value in 2017, as forecast in the Autovista Intelligence report, Residual Value Outlook 2017.
Deutsche Automobil Treuhand (DAT) sees stability in the used car market, with 7.4 million cars changing hands again in 2017, as they did in 2016. DAT’s Siegfried Trede can envisage more consumers opting for petrol cars instead of diesel, which would naturally boost the residual values of petrol vehicles but put pressure on diesel prices. Burkhard Weller of the Wellergruppe also fears that ‘diesel faces further price and volume pressures.' He sees the high number of fleet, rental and pre-registered cars negatively impacting used prices but does not expect any major change in used car volumes compared to 2016.
In summary, the survey results confirm the view that used car volumes and prices will essentially be stable in 2017 held by AVAG, the independent car trade group and the Zentralverbund Deutsches Kraftfahrzeuggewerbe (ZDK). Used car exchanges Mobile.de and AutoScout24 as well as the Bundesverband freier Kfz-Händler (BVfK) are even erring on the more optimistic side.
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