Used vehicle business starts the year off right,
with 133,292 sales, 1.8% more than a year ago The shortage of available vehicles had also spread to second-hand models and during the first half of the year the figures were in the red for several months in a row.
One of the main victims of this lack of units has been the car rental industry
—which Ganvam calls “the young VO factory”– that it had to renew its contracts by not being able to renew them with newer vehicles, causing a chain reaction that affected the whole market, with general price increases.
These operators
increased their used sales by 36%, up to 10,463. Renting did that with 7% to 9,137 purchases. The rest of the channels, on the other hand, scored numbers in red.
According to the joint figures published by Faconauto and Ganvam, the data for January is 17.1% below what was achieved at pre-pandemic levels and the sales ratio between new and used cars was 2.1 VO for every recently registered car.
Madrid is the community with the highest number of transactions, ending the month with 23,933 purchases, a significant increase – and the largest in the series – of 26.8%. Behind them are Andalusia and Catalonia, with 21,646 (-12.1%) and 21,094 (+17.3%) units respectively.
The two distribution employers are addressing a worrying reality in the sector: the bulk of sales remain concentrated in models older than 10 years, which account for 57.5% of sales, i.e. 76,723 units.
However, the recovery of the rental companies translated into an influx of vehicles between one and three years old, which saw an increase of 10% to 8,374 purchases. These models are highly appreciated by the dealers and the VO divisions of the brands, as their price difference with a new car is not so great and they continue to offer a significant profit margin.
Despite 2023 being the year when the low emission zones come into effect, the zero emission models start the year in the red. The 7.1% drop to the end of January with 703 operations shows the interest of the Spanish buyer, who have opted mainly for diesel engines. A total of 74,110 diesel cars changed hands.
From Faconauto, they point out that “it is very modest growth and we will return in the coming months to the trend that we have been dragging on since the end of the pandemic and which is becoming chronic: decline in model transfers to three years old and a strong role of models more than ten.
We do not expect a trend break for the full yearwhich, according to our forecast, will register numbers very similar to those of 2022.
Source: La Verdad
I am Mary Fitzgerald, a professional journalist and author of the Today Times Live. My specialty is in writing and reporting on technology-related topics. I have spent the last seven years extensively researching and understanding the field of technology so I can properly inform my readers about developments in this ever-evolving world.
