Used cars invade dealerships

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Although the supply is higher, a used car is 25% more expensive than three years ago

Since the beginning of the year, finding a used vehicle at dealerships has become easier. And it is that, after the drought of new cars due to the semiconductor crisis and the decision of many to go to the used market,
September 2022 marked a turnaroundaccording to Autoscout24, Sumauto’s specialist used vehicle portal, based on data from Autobiz’s Green Car Monitor VO.

At the end of last summer, used units bottomed out and it was difficult to find the car they wanted, with a limited stock of 216,000 units having recovered to 239,000 by the end of the year. However, it is still 44% less than three years ago, when the buyer had access to twice as many units for sale: 460,000.

a
larger offer with a clear condition: Buying a used car is 25% more expensive than three years ago. In 2020, the buyer paid an average of 17,000 euros for a used combustion engine, today he has to dig into his pockets and pay 21,264 euros, 25% more. The same happens with electrified vehicles, today 26% more expensive and above 33,000 euros.

This situation makes the Spaniards think twice and postpone the purchase of a car: more than three months (about 100 days) to buy a car with an internal combustion engine, when only six months earlier it was about 60 days.

In fact, this thrift is already being felt by dealers, who saw second-hand sales drop 5.6% in 2022 and plummet 9% in November and December, according to MSI data.

According to
Ignacio Garcia Roji, a spokesman for Autoscout24, “the reduced appetite to buy a used car is due to high prices and increased availability of new vehicles. But right now is a good time to buy second-hand, especially zero mileage models, which are very attractive opportunities in terms of value for money, finally making an indecisive buyer, of the many out there now, take the plunge. for its acquisition.

Source: La Verdad

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