THE average price of a secondhand car in the Balearics stood at 13'829 euros in June this year, a 21.3 percent downturn on the same month in 2008, said European vehicle watchdog AutoScout24 yesterday.
In the rest of Spain, said its report, used car prices in June averaged out at 11'876 euros, a fall of 11.9 percent from what they had been in June 2008.
The watchdog research attributed the plummeting prices to a variety of factors. One of them, said AutoScout 24 were the discount promotions which dealerships had launched in order to kick start sales which had all but come to a standstill as a result of the recession. Some dealers were offering 15 percent off the cost of a used car, particularly to the young and immigrant groups who are the traditional customers of the secondhand car market. The watchdog was predicting a slight upturn in sales over the coming months, particularly in the new vehicle market, largely as a result of the Central Government aid package, Plan 2000E which provides 1'000 euros towards the cost of a new car plus a 500 euro contribution from the manufacturer.