Australian used car prices surge to an all-time high – report

Used cars are increasingly hot property in Australia, with a new report recording a 30 per cent surge in prices since April as buyers rush to avoid public transport and new car dealers face stock shortages. According to data from Moody's Analytics, July used-vehicle prices broke records for a second month running, recording a 16.2 per cent rise on pre-pandemic prices and a whopping 30.8 per cent increase on prices during the April 2020 slump.