Collapse of used cars price

Collapse of the prices of used cars in markets was unexpected for the traders of the used cars’ sale, especially before the large increase which they noticed for years following the government’s earlier decision to raise the taxation, as the prices have decreased to their lowest levels in months, while this occurs in the light of the retreat in the volume of demand because the citizens’ demand decreased.

It was 11:00 am when Echorouk entered the Tidjelabine car market, hundreds of cars were parked for sale by their owners, including new and old, and dozens of citizens came from all Wilayas, whether to buy a car for use or are brokers for resale, taking advantage of the opportunity of the decline in prices, in order to do a deal that may generate a lot of money if the price rose again – said Mohammed – one of the traders who was there and who was searching for a good car with an attractive price.

During its exploratory visit to preview the Stock Exchange of used cars, Echorouk approached many owners of cars that were offered for sale to discover the prices, and stood on the fact that it declined with rate ranging between 10 to 15 million centimes, at a time the “Optra” car price did not exceed 115 million centimes, though it was used only one for year, while the “Accent” reached 55 million centimes and “Atos” 65 million.

Echorouk asked another merchant who was selling a “Congo” car, and he answered that it costs 65 million centimes, at the time it was the kind of cars that reached at least the price of 75 million centimes months ago, while the luxurious cars still maintain their traditions and this exception was made ​​in the auto market.