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Saturday, April 20, 2024 13:30 GMT
New surge in vehicle prices in Algeria. An uptrend that doesn’t seem to be stopping anytime soon. Which vehicles are affected by this increase? Faced with the blocking of imports and the arrival of the social return, the Algerians then fell back on the second-hand car market, causing a further rise in prices. But now, due to strong demand and limited supply, the prices of used vehicles have also soared in the summer of 2022.Used cars sold at the price of new vehiclesOn the weekly Bouguerra market in Algiers, the prices of second-hand cars broke all records, approaching those of new vehicles. For example, a 2005 Hyundai Atos with more than 300,000 km on the odometer sells for no less than 100 million cents (~US$7,000). The same model, 2011 series, exceeds 150 million cents (~US$10,500). The Golf Series 2, year 1998, displays the trifle of 70 million cents (~US$4,900), while its real price should not exceed 45 million cents (~US$3,150) according to connoisseurs. The little Indian Maruti, once a car par excellence for modest purses, reached the sum of 60 million centimes (~US$4,200). A Kia Picanto, another “poor man’s” car, although 10 years old and having undergone some tinkering, does not go below 150 million centimes (~US$10,500).The distress of buyersAt the market, a buyer who, with a budget of 40 million, wanted to acquire a second-hand vehicle, but finding no offer that corresponds to his budget, is forced to return empty-handed. Another buyer was planning to trade in his old vehicle, a 2006 Clio Campus, for a newer car for a small surplus. But when he discovers that he will have to pay twice the price of his vehicle - 80 million centimes (~US$5,600) - to achieve his goal, he quickly abandons his idea. Thus, the crisis of the car market in Algeria continues and it is the citizen who pays the tribute. Faced with the freeze on the importation of new vehicles and the absence of a national automobile industry, it is the bogus dealers and resellers who impose their law. The national car fleet is becoming more and more dilapidated and the average Algerian, unless he strips himself, is no longer able to acquire a car.