A Moody's Analytics report referred to in today's 'The...

A Moody's Analytics report referred to in today's 'The Australian' said that a year-old Toyota HiLux with 30000 on its odometer was selling for close to 90 per cent of its new value, with soaring demand for utes due to the Federal Coalition Government's much welcomed instant asset write-off.

IIRC, historically when new cars are driven out of a showroom they typically drop 20 per cent or more in value.

Moody's suggested that used car prices initially dipped during COVID-19 by 10 per cent but are now about 60 per cent above the April 2020 lows.

The increase in used car prices has previously been referred to by APE but this analysis puts a figure on the rise.

The shortage of semiconductor chips affecting some new cars (though I read elsewhere not so bad for models imported to Australia) may be also partly causing this huge rise in 'pre-loved' car (and utility) prices.