Used cars are rising rapidly in price

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Published July 7, 2021 at 10:52 pm

Economics. Demand for used cars is skyrocketing. The vehicles are now sold twice as fast as last summer and the average price has risen by 8 percent, according to figures from the car dealership Wayke, which Dagens Industri quotes.

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Selling a car on Wayke now takes 12 days from advertisement to finished deal, according to DI. It is a halving since last summer and a new record level for the car trade site.

– It is an excellent location to sell your car. You can make a very good deal right now, says CEO Martin Fransson to DI.

The price rally is due to record low interest rates and an overheated economy that has driven long delivery times for new cars due to lack of labor and more expensive and more inaccessible components.

– Stake prices are rising, you can not deliver at the desired rate and there is a shortage of labor in some sectors. These are classic signs of overheating, stated Volvo owner Industrivärden's CEO Helena Stjernholm in an interview with the same newspaper yesterday./p>

– It's a very, very serious situation. We are in the middle of a pandemic and the worst economic crisis since the Second World War, said Minister of Finance Magdalena Andersson to TT on 18 June 2021.

At the same time, Governor Stefan Ingves announced that the 0% crisis interest rate will remain for the foreseeable future.