Australians Reassess Car Ownership Amid Rising Costs, Turning to Premium Used Vehicles | CARS24 Reports 51% Surge in High-Value Vehicle Sales as Economic Pressures Shift Buyer Behaviour

CARS24

SYDNEY, AUSTRALIA: As cost-of-living pressures continue to weigh heavily on Australian households, many consumers are rethinking their financial priorities. For some, that means reassessing how they own and operate their vehicles. New data from CARS24, one of Australia’s fastest-growing digital used car platforms, reveals a marked change in buyer behaviour: Aussies aren’t giving up their cars, they’re simply getting smarter about how they buy and sell them.

According to recent figures from CARS24, the platform saw a 20% increase in individuals selling their cars over the past year. Most notably, there’s been a 51% year-on-year surge in demand for vehicles priced above AUD 40,000, far outpacing the 16% growth in demand for cars under that price point.

“Consumers are making more calculated choices. They’re seeking out quality, reliability, and value, not just the cheapest option,” said Nathan Spooner, State Head of Refurbishment for QLD at CARS24. “We’re seeing a real shift away from traditional car-buying norms. People are skipping the showroom drama and going digital, where the process is seamless, transparent, and built on trust.”

With rising interest rates, soaring fuel prices, and growing insurance premiums, the cost of keeping a vehicle on the road is more expensive than ever. In response, Australians are increasingly turning to the used car market, not just to downsize, but to upgrade in a financially sensible way.

“What’s interesting is that higher-value vehicles are leading the charge,” Spooner added. “Aspirational cars aren’t off the table, people still want the car they love, but now they want it without the financial burden that comes with buying brand new.”

CARS24 attributes its success to a tech-driven, consumer-first model that offers instant online valuations, guaranteed offers, fast payments, and a 7-day return window, a streamlined experience built for today’s buyer.

The platform's growing popularity reflects a broader shift in mindset: used cars are no longer seen as second-best. They’re now recognised as a smarter, value-driven alternative, a way to enhance lifestyle without compromising on quality.

As household budgets tighten and economic uncertainty persists, CARS24 anticipates further growth across both budget and premium segments, as Australians seek more financially flexible ways to get behind the wheel of their ideal car.

The Atticism PR & Brand Development

Georgie Smith

[email protected] | 0433 633 246