The price of new cars rose 6.3% in April and second-hand cars became more expensive by 16.4%

Motorcycles became more expensive by 5.3% in year-on-year terms and tires by 12.4%

May 14. (EUROPE PRESS) –

New cars became 6.3% more expensive in April 2023 compared to the same month of the previous year, nine tenths of a percentage less than the 7.2% year-on-year increase registered last March, according to the latest data from the Price Index. Consumption (CPI) of the National Institute of Statistics (INE).

Meanwhile, the price of second-hand cars experienced an increase of 16.4% in April in the year-on-year comparison, in line with the increase observed in the third month of the year (16.5%).

However, new cars only increased by 0.1% in the fourth month of the year compared to March, while the prices of second-hand vehicles experienced an increase of 1.1% in relation to the previous month.

On the other hand, motorcycles became more expensive in April by 5.3% in the interannual rate, that is, 0.6 percentage points more than in March (4.7%). Likewise, in the fourth month of 2023 the price of motorcycles rose 1.2% in month-on-month terms.

Tires became more expensive in April by 12.4% compared to the same month of the previous year, while in the month-on-month comparison the increase was 0.5%. Likewise, spare parts for vehicles increased their price by 7.2% year-on-year and 0.7% month-on-month.

In April, vehicle maintenance and repair services raised their price by 6.9% in comparison with the same month last year, while in relation to March 2023 a progression of 0.5% was registered.