The period between the years 2019 and 2023 was characterized by pandemic, low interest rates and problems with supply chains.
This has left its mark on the prices of new cars, which during the period increased sharply in price.
Here’s how much more expensive new cars have become in recent years, according to figures like Today’s Industry has produced.
New cars 45 percent more expensive
Dagens Industri has looked at how prices have increased for the four premium brands BMW, Volkswagen, Volvo and Mercedes-Benz during the period between the years 2019 and 2023.
The compilation shows that the average prices per car for the four brands have soared by a whopping 45 percent – in just five years.
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The brand with 52 percent higher prices
The car brand whose prices have increased the most during the period 2019 to 2023 is Volkswagen, whose cars cost a whopping 52 percent more.
Second most, the prices of cars at BMW have risen, with an increase of 48 percent.
The corresponding figure for Volvo Cars is 45 percent, while Mercedes-Benz has increased the average price per car by 35 percent.
The prices of an average Volkswagen have increased by 52 percent – Photo: Tomas Oneborg/SvD/TTThat’s how much the cars cost
In kroner and ören, the price of an average new Volkswagen has risen from SEK 261,000 to SEK 395,000, while an average BMW has gone from SEK 465,000 to SEK 690,000.
An average Volvo had a price of SEK 389,000 in 2019, which rose to SEK 563,000 in 2023. Mercedes-Benz charged an average of SEK 516,000 for a car in 2019, which last year had risen to SEK 697,000.
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Record profits for car brands
Dagens Industri also notes that the soaring prices meant some good years for the car brands.
In the years 2022 and 2023, Mercedes-Benz reached an operating margin of 10 percent, which the company has never achieved before.
Volkswagen, whose prices have increased the most, reported its highest pre-tax profits ever in 2022 and 2023, with SEK 209 billion and SEK 240 billion, respectively.
It is worth mentioning that the average car today does not exactly correspond to the average car in 2019. For example, a significantly larger proportion of plug-in hybrids and electric cars are sold today than they did then.