Business
Used car prices surge at record rates as public transport shunned – Sydney Morning Herald
Australians are driving up used car prices to new highs, taking advantage of cheap petrol prices amid health fears about using public transport.
“This change in preference has been in response to fear of contracting the virus or, in some cases, not wanting to deal with the hassles of increased precautions.”
Wholesale used vehicle prices jumped 7 per cent in August following a 4.7 per cent rise in July, reflecting a record surge of interest at auction houses for secondhand cars.
‘Buyers gravitate to used vehicles during difficult economic climates’
Pickles general manager for motor vehicles Brendon Green
The wholesale passenger-car ma…
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