Impact of new car prices on used car purchase by selected country 2022
During a July 2022 survey, 95 percent of respondents who owned a used car in Brazil and 93 percent of respondents who owned a used car in Portugal reported the high new car prices had made them opt to purchase a second-hand vehicle instead. The United States had the lowest share of participants reporting new car prices contributed to them buying a new car, though nearly three quarter of U.S. consumers mentioned high purchasing prices had at least some impact on their decision to invest in a used vehicle.