In 2023, a new car will sell for 10,000 euros more than ten years ago

2024-01-05 13:57:00

Baptiste Morin / Photo credit: SEBASTIEN LAPEYRERE / Hans Lucas / Hans Lucas via AFP
2:57 p.m., January 5, 2024

A study by AAA Data, a specialist in automotive data, reveals a significant increase in the price of new cars in 2023, which cost, on average, 35,474 euros. A market that appears less and less affordable for buyers.

This is almost 2,000 euros more than in 2022 and, above all, 10,000 euros more than five years ago. According to a study by AAA Data, an expert in automotive data, a new car cost, on average, 35,474 euros in 2023. Driving is becoming more and more of a luxury and the market is becoming less and less affordable for buyers.

The neglected entry-level

If cars do indeed cost more to produce, it is also a strategy of manufacturers, as explained by economist Flavien Neuvy, director of the Cetelem observatory. “Manufacturers have an interest in selling more expensive cars because their margins are higher on expensive cars and they have tended to abandon the entry-level segments, the mini-city cars, the small cars that they almost no longer manufacture, and therefore also push prices up there.

As for sales, they certainly increased in 2023, but remain below the pre-Covid level. Proof that rising costs weigh on buyers. The French keep their vehicles longer or buy on the second-hand market where cars sell for 5,000 euros less on average. The new home market is increasingly aimed at the wealthiest, but also at the oldest. A buyer is 55 years old on average today, compared to less than 50 ten years ago.

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