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Second-hand cars with that new car price

Cashed-up consumers scared of using public transport due to the coronavirus have driven used car prices up almost 50 per cent since the pandemic started, but they now face a fall in the value of their worn set of wheels. Data compiled by Moody's Analytics and Datium Insights shows just as the market for toilet paper and pasta was up-ended by measures to stop the spread of the coronavirus, demand for second-hand cars has accelerated.

In the immediate advent of the coronavirus, when many Australians were forced to work from home, wholesale used-car prices nose-dived to their lowest point in at least half a decade.

But since April, they have grown by 49 per cent. They are now a third higher than in October last year. Moody's analyst Michael Brisson said under normal circumstances, used cars ha…

Global shortage of new cars leaves car yards nearly empty and forces used car prices up

Key points: There is a shortage of new imported cars reaching Australia Car yards usually filled with new cars are nearly empty Prices of used vehicles are up 30 per cent on this time last year

He said, normally, he would have eight to 12 to cars on display.

"At the moment, we have one, so supply is very tight," he said.

"The factory in Japan closed down for a month, so it's been a chase, a catch-up, ever since."

Mr Sutton said he still had plenty of people interested in buying new cars — they just had to wait a little longer.

"Customers come in, and they need to order vehicles, and there'd be a two-to-three-month delay," he said. Demand up, supply down Neil Sutton is finding it hard to get new cars to fill his car yard.(ABC Alice Springs: Oliver Gordon)

What's happening at this car dealership in Alice Springs reflects a …

Used car prices hit another all-time high

It’s a seller’s market: Used car prices hit another all-time high Selling your car could be an easy way to make a quick buck during the coronavirus recession. Research by Moody’s Analytics and Datium Insights shows used vehicle prices rose for the fifth straight month in September to hit another all-time high. Average prices jumped 3.8 per cent over the month as persistent weakness in the new vehicles market and aversion to public transport left too many buyers chasing too few cars. A 2006 Nissan Patrol ST, for example, was selling for $15,510 more in September 2020 than in September 2019, with buyers forking out an average of $38,500 for the car, according to Carsales.com.au. (The 2017 Holden Special Vehicle GTS R experienced the biggest annual median price increase – rising by $51,990 to $169,990 – but that’s unsurprising given no more Holdens are rolling off the production line.) As Moody’s Analytics economist Michael Brisson put…