10 March, 2022
Posted by: Jorge Platero
Categories: Featured press, Press releases
For every new vehicle, 2.3 second-hand vehicles were sold.
Sales of models between 1 and 3 years old plummeted almost 41%
The lack of supply triggered imports by almost 50%
Sales of second-hand passenger cars and SUVs fell by 2.4% in February, to 143,359 units, which means that for each new vehicle 2.3 second-hand were sold, according to data from the Faconauto employers (dealers) and Ganvam (dealers). So far this year, the market has managed to remain stable, with a total of 274,389 units sold (+0.3%).
In an analysis by age brackets, sales of models between 1 and 3 years old plummeted 40.7% last month, to 8,466 units, since, as a result of the semiconductor crisis, there is no renewing the fleet and, therefore, the offer of young vehicles is not being injected into the second-hand market. This explains why the company channels (-23%), renting (-15%) and rental companies (-12.4%) registered double-digit falls in their operations with used vehicles during the past month.
Vehicle imports continue to rise
In this context of lack of supply, imports continued to gain prominence as a way to respond to demand, especially for vehicles between 5 and 8 years old, whose sales increased by 15% in February, to 13,790 units. Specifically, transactions with imported vehicles grew by 49.5% in February and have accumulated an increase of 55.3% so far this year, representing 6% of the market.
Regarding energy sources, data from employers in the sector show a decline in traditional engines during the month of February. Thus, operations with used diesel vehicles -which represented 58.7% of operations- fell 5.6% during the past month; while those of gasoline, for their part, fell by 1.5%, reaching 51,894 units, 36.2% of the total.
As for alternative drives, second-hand pure electric models grew by 89.8% in February, reaching 1,076 units, accounting for 0.8% of the market. On the other hand, plug-in diesel/electric vehicles registered a total of 180 units sold (+136.8%) during the past month, compared to 931 units of plug-in gasoline/electric vehicles (+64.5%).
Rating from Faconauto
According to the Communications Director of FACONAUTO, Raúl Morales, “The data for February are not good, those for 2021 worsen, which were also not what was expected due to the tailwinds of the pandemic. On the other hand, the problem of the aging of our car fleet is only growing. The semiconductor crisis means that, in the younger segments, there is no competent offer, and this means that vehicles over 10 years old are, once again, the true protagonists of the second-hand market. As for fuels, despite continuing to lead transfers, diesel and gasoline are gradually giving way to electric and hybrid ones”.
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