The used car boom: Why do we buy fewer new ones?

Much of last year was indeed devastated by the long confinement, the state of alarm and different measures that, despite ensuring the common good and fighting the pandemic, have inevitably generated authentic havoc in foreign markets. Like many other automotive fields, second-hand cars were devastated by a sharp drop in sales. But what is happening in the year 2022?

And it is that since the shops reopened their doors and the fundamental rights of the population were gradually returned, the situation has returned to a certain aftertaste of ordinary, fortunately. Proof of this is the intense increase that it has experienced, which, compared to the last year, has grown by %.

So far this year, it has been calculated that almost three out of ten models are less than five years old, giving rise to a figure that speaks for itself. Suppose we extrapolate this case to the time of fuel the public chooses in the second-hand market. In that case, we will discover that most sales correspond to combustion vehicles, leaving aside electric cars. 

But, what is the predominant option within that high quota of traditional vehicles? The truth is that diesel takes the lead with 59.5% of sales compared to just over 36%, courtesy of gasoline vehicles. Undoubtedly, this boom in second-hand car sales is promoted, mainly in the context of the pandemic. The pre-owned car market has shown a remarkable increase, sell your car online with instant car valuation and get it picked up from your doorstep. 

And it is that the bleak economic crisis has caused other more affordable services to be advocated, and second-hand cars enter there fully. At the same time, we can see how they continue betting on diesel mechanics without fearing their uncertain future, which inevitably takes longer than promised.

So, is this increase in used car sales a positive thing? For the sector itself, yes, allowing it to enjoy revenues not even remotely similar to last year's. However, it is worrying for the automotive industry since the drop in new vehicle sales may develop a point of no return.

Of course, we also have the environmental problem, that although the Government and the different government institutions seek to stone without hesitation not only diesel but also all combustion cars, we find ourselves with a market that clearly says yes to diesel and combustion, being this the whiting that bites its tail.


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