2.2 used cars are already sold for every new

The second-hand market fell by 4.5% in the first half of the year. 60% of sales are diesel cars

Sales of used passenger cars and SUVs are down 4.5% until June, with a total of 918,438 units, compared to the same period of the previous year, according to data from the employers’ associations Faconauto (dealers) and Ganvam (official and independent distributors ). So far this year 2.2 second-hand cars have been sold for every new vehicle.

In terms of energy sources, the used diesel vehicle business – which represented 58.8% of the business until June – decreased by 6.6% in the first half; while those of gasoline, for their part, fell by 5% to 328,774 units, a concentration of 36% of the total.

In terms of alternative powertrains, pre-owned pure electric models grew, although they still represent barely 0.7% of the market, up 44.6% to June, with 6,328 units. On the other hand, plug-in diesel/electric vehicles registered a total of 1,007 units sold (+109.8%) in the first half, compared to 6,317 plug-in petrol/electric vehicles (+33.3%).

According to FACONAUTO’s communications director, Raúl Morales, “data for the first half of the year shows that the crisis facing the auto industry is extending to the used vehicle market due to the same factors: lack of inventory on sales and the economic uncertainty that families feel. These factors also influence the supply of young vehicles from 1 to 3 years old, a segment that has fallen the most so far this year with a decrease of 37%. The channels from which this market is supplied , normally cars from rental companies and company fleets, do not generate inventory, which means that demand cannot be met and professionals are forced to import vehicles from third countries.”

In June, for its part, the used vehicle business fell 4.1% to 165,181 units, a five-month negative chain due to the lack of stock, especially of young models. In that sense, the data shows how activity with vehicles between one and three years old has fallen by 38.3% so far this year, putting a strain on the market as a whole

Through channels, companies, rental companies and rentals have not been able to renew the fleet due to the low availability of the product. For example, the second-hand vehicle activity fell in the first half of the year by 29.9%, 22.6% and 13.1% respectively. In this context, it was necessary to rely on foreign markets to supply vehicles, which explains why the import channel increased its sales by 51.4% to June.

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.