The price of cars hits its historical maximum in September and rises above 10%

MADRID, 14 Oct. (EUROPA PRESS) -

The Consumer Price Index (CPI) for automobiles in Spain exceeded the 10% level during the month of September (10.1%) in the interannual rate, reaching its highest historical record, according to data from the National Institute of Statistics ( INE).

Sources from the sector explained to Europa Press that this increase in the price of automobiles in September and in recent months is a consequence, mainly, of the shortage of supply of vehicles in the market due to the lack of chips, which has caused manufacturers to prioritize the sale of models with the highest average ticket.

Likewise, the reduced stock of new vehicles and the long waiting periods to receive orders have caused many customers to bet on the second-hand market to solve their mobility needs, which has also led to a rise in the prices of this type of vehicle. .

The price of automobiles experienced a rise of 1.2% in September in comparison with the previous month, while the increase so far this year stood at 9%.

As for new cars, the year-on-year increase in September was 9.8%, with a rise of 1% compared to August and 8.7% so far this year until last month.

On his side, used cars also skyrocketed in price in September, with an increase of 11% compared to the same month last year, while the month-on-month increase was 2% and 10.3% since January.

In this same line, motorcycles behaved, which also became more expensive by 5.2% year-on-year in the ninth month of 2022, although the month-on-month rise was more moderate, with 0.1%, and 4.8% in the nine first months of the year.

For its part, spare parts and accessories for vehicles registered a rise of 11.1% in comparison with the same month last year, while between August and September they increased by 1.1% and 8.5 % since January.

On the other hand, fuels and lubricants for vehicles shot up 15.3% in price in September compared to that month last year, although they fell 1.7% compared to August. Between January and September, the progression of prices in this item was 11.4%.

Finally, vehicle maintenance and repair services registered a year-on-year rise of 4.8% last month, as well as 0.4% month-on-month and 4.1% in the period between January and September.