The Austrian car market will record moderate price developments in 2024. With an average vehicle price of 26,310 euros, prices have fallen by 3 percent compared to 2023. This emerges from the AutoScout24 used car price index (AGPI) for the full year 2024. This puts Austria in the middle of the price range. It remains behind the high-priced markets of France (29,627 euros) and Luxembourg (37,860 euros) and is slightly cheaper than Germany (26,942 euros). “Austria is in a stable position compared to other European countries, both in terms of prices and the development of demand. The price curve showed a clear downward movement throughout 2024, especially since the middle of the year. We expect the used car market to stabilize further in 2025,” explains Nikolaus Menches, Country Manager of AutoScout24 Austria.
Demand drives the market in Austria
A key driver for the increased demand in Austria was the continued high interest in used cars, which are often chosen as a cost-effective alternative to new cars. This is due, among other things, to buyers’ increased sensitivity to price-performance ratios. The increasing availability of vehicles with alternative drives, such as hybrid vehicles, has also stimulated the market. Demand for used cars in Austria increased significantly by 19 percent in 2024, while supply increased by 3 percent. Even in a European comparison, Austria is in the middle of the field. Countries such as France (+40%), Luxembourg (+41%) and Italy (+24%) recorded higher increases in demand. Germany (+12%) and Belgium (+14%), however, lagged behind Austria.
Hybrid vehicles are booming in Austria
Hybrid vehicles will remain the most expensive type of drive in Austria in 2024 and will see a price increase of 2 percent. The average sales price on the AutoScout24 platform is 44,864 euros. At the same time, this segment is experiencing a boom in demand: searches for hybrid vehicles increased by an impressive 45 percent, accompanied by a 15 percent growth in supply. Electric vehicles, on the other hand, show the opposite development. Despite a sharp increase in demand of 44 percent, the average price fell by 12 percent to 37,863 euros.
In comparison, petrol and diesel vehicles show a more stable price development. Prices for petrol vehicles fell by 3 percent and averaged 25,777 euros, while diesel vehicles saw a price reduction of 5 percent to 24,160 euros. Demand has increased significantly in both segments.
Detailed data can be found in the appendix.
OTS ORIGINAL TEXT PRESS RELEASE UNDER THE EXCLUSIVE RESPONSIBILITY OF THE SENDER FOR CONTENT – WWW.OTS.AT | ASC