The car prices have skyrocketed in the past two years due to the financial crisis, making it difficult for people to afford new vehicles. The inflationary crisis, exacerbated by the conflict in Ukraine and the economic repercussions of Russian sanctions, has led to an average increase of 15% in car prices. This surge has affected all sectors, including the cost of electricity, leaving many individuals unable to purchase a new car within their budget.
The impact of the inflation crisis is particularly evident in the prices of electric cars, which have seen a staggering 23% increase in just one year. As a result, individuals like Eric from Mont-Saint-Guibert, who had a budget of 35,000 euros for a new car before the crisis, now find themselves unable to afford the same model due to the price hike. This has forced them to consider smaller, more affordable options or continue using their current vehicle despite its higher fuel consumption and environmental impact.
The comparison of car models reveals significant price differences, with some models experiencing a price increase of up to 34.6%. Even luxury vehicles have not been spared, with the Bentley Continental and McLaren Artura witnessing substantial price hikes.
Despite the challenging situation, there is a glimmer of hope as car prices have started to stabilize in recent months. Some models are even being offered at reduced prices compared to October 2021, such as the Citroën C3 puretech 110, which is now more affordable due to Citroën’s decision to focus on electric versions.
The automobile industry faced another setback after the COVID-19 pandemic with the semiconductor crisis, leading to extended delivery times for new cars. However, the situation has improved, and delivery times are gradually returning to normal levels.
The European automotive industry is facing competition from Chinese manufacturers who are introducing electric models at lower prices. This has raised concerns about the future of European electric vehicles, especially as Chinese electric cars dominate global sales.
In conclusion, the financial crisis has had a profound impact on car prices, making it challenging for consumers to afford new vehicles. While the situation is gradually improving, the automotive industry faces new challenges from the rise of Chinese electric vehicles in the European market.