The second-hand market accumulates eight months of declines (-8.6%)

The car market fails to rear its head. The confluence of various factors, such as the shortage of semiconductors, inflation or the loss of purchasing power, has resulted in a knock-on effect that affects the entire value chain: from manufacturers, with factories shut down, to the second-hand market, which has seen its prices rise sharply. .

While the new car segment grew in numbers in August and September, the used car segment is declining for eight consecutive monthly payments. specifically,
in last month there were 153,927 surgeries8.6% less than a year ago.

This means, cumulatively, that the total at the end of the third quarter is 1,360,747 units, 5% less than the figure reached in 2021. This means that
2.3 used cars are sold for every new car registered in Spain.

The data from the National Association of Sellers (Ganvam) reveals a worrying reality: the young VO, responsible for the renovation of the fleet, faces a constant setback as rental companies and large fleets extend their contracts due to not being able to get new cars.

For example, sales of cars less than a year old, mainly reserved for dealers, fell 28.1% in September and down 11% so far this year.

If the age range is expanded to models between one and three years old, their decline is more than 30% so far this year. In September, they reached 12,472 sales, 10% more than a year ago.

According to Ganvam, this increase corresponds to the increase in rental activities, which increased their presence by 63%. “The slight improvement in production has enabled these companies to renew their fleet,” says the association. in August and September,
this channel saw increases of 37% and 18%respectively.

Another consequence of the lack of stock and orders over six months is that buyers have chosen to go to foreign channels. Importers rose barely 1.8% in September, but this year the growth is 40.4% this year.

By autonomous communities,
they have all had setbacks except Madrid, which registered 27,583 operations, 26.9% more. The biggest drop was in La Rioja, with 766 sales, 24.6% less.

Source: La Verdad

Ida

I am Ida Scott, a journalist and content author with a passion for uncovering the truth. I have been writing professionally for Today Times Live since 2020 and specialize in political news. My career began when I was just 17; I had already developed a knack for research and an eye for detail which made me stand out from my peers.