New European regulations will increase the prices of both new and used vehicles
The "euro 7" regulation could increase the costs of car production, and thus the price, which would be 2.000 euros higher than the current one. The announcement of new regulations in the EU increases the prices of new vehicles and the demand for used ones. The used car market has been trending upward for several years, primarily due to the insufficient production of new vehicles due to the general increase in the price of raw materials and the partial crisis in the chip market. With the announcement of an additional increase in the price of new cars, as experience shows, the demand for used cars will also increase. How much the price increase will be will depend on market trends. Current used car prices Dealers say that the price of used cars is currently rising because the production of new vehicles is still insufficient, but that now only those who need to buy used cars. Many say they don't decide to switch because of the prices. In Serbia, the price of used cars increased by more than 25 percent. Stabilization of the used vehicle market is expected only in 2024. Used vehicles produced between 2005 and 2010 are mostly bought in Serbia, and 80 percent of the vehicles sold are older than ten years, writes Kamatica. The Euro 7 regulation aims to reduce emissions and protect the environment and is part of a wider project to phase out internal combustion engines completely by 2050.