used car market australia 2023

Australia’s used car market in 2023 finally came back to earth after the pandemic sugar rush. Supply improved as new-car stock landed, so prices stopped climbing and started easing in many segments, though still higher than pre-2020 levels.

Higher interest rates cooled demand, days-to-sell stretched out, and buyers got pickier about service history and km. Utes and SUVs held firm, but niche performance models and older luxury metal had to sharpen their asking. EVs and some hybrids depreciated faster as tech moved on and more new stock arrived, putting buyers in the driver’s seat. If you’re shopping, cross-check recent sold prices and live listings on places like Tradingpost to separate a fair deal from wishful thinking.