used car sales stagnate due to lack of stock

According to data from the MSI consultancy and the Faconauto dealership, sales of used vehicles will continue to see how your recovery is delayed as a consequence of the lack of stock that the sector suffers and that is preventing the existing demand from the models that are between zero and five years old.

Specifically, they estimate that this year sales of used vehicles will close the year with 1,965,930 units, a figure that, although it represents a growth of 7% compared to 2020, is not enough.

By age, used cars from zero to five years old (increasingly expensive) will only increase their transfers by 0.3%, while those from six to ten will grow by 22% and those over ten years old will do so by 9% .

Older cars will benefit

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These figures contrast with the optimism that the sector was shuffling during the first months of the year. And it is that according to current data, the behavior of the second-hand market is already practically hand in hand with the new car market.

The low number of registrations that we have been dragging for two years in Spain, and which has been accentuated by the shortage of the market due to the microchip crisis, is preventing the generation of sufficient stock of used cars of little age.

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The ratio of used vehicle to new vehicle stands at 2.3 to 1, the highest level in recent years, breaking with the usual average figure for our automotive market, which historically hovers around 1.5 to 1.

Despite everything, these figures are still far from those that can be seen in other more dynamic markets for second-hand cars, such as the French (3.7 to 1) or the British (4.3 to 1).

This situation will, however, favor the sales of the older models. Thus, those aged six to ten will grow by 22% and those over ten will grow by 10%. The latter will monopolize this year again 60% of all sales, mainly carried out by the private client.

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Looking ahead to 2022, Faconauto expects this stagnation trend to continue, with 1,997,566 used transferred. The employer has attributed the stoppage to the aforementioned lack of cars of up to five years, which will become very evident next year when, according to their calculations, this strip of used will have a deficit of about 90,000 units with respect to those existing in 2019.

That year they were marketed 620,811 vehicles between zero and five years old, who were responsible for the “jerk” experienced by the used vehicle before the pandemic.

In spite of everything, one of the conclusions of the V Observatory of the VO of Official Distribution that has been held in Madrid, where these figures have been exposed, is that “the second-hand vehicle is increasingly important for dealerships”, already meaning about 20% of your turnover.

It has also been agreed that the pandemic and the subsequent semiconductor crisis are forcing official distribution to open up to new actors to stock up on used vehicles, as well as to dump into the online ecosystem.

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Source: Motorpasión by www.motorpasion.com.

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