The used vehicle market has fallen by 6.9% in the month of November compared to the same period of the previous year, reaching 174,532 transfers, according to data from the MSI consultancy for the dealers’ employers, Faconauto. In this way, the downward trend continues which occurred in October. The year-end forecast remains down 14%, with just over 1.8 million operations.
The fall in the month is mainly explained by the sharp decline in vehicle operations for less than a year, which fell by 53.6% compared to last year. However, the 1 to 2 year segment has seen its sales increase by 21.7%, the 2 to 3 segment by 23.6%, and the 3 to 5 year segment has increased by 22.7% . All of them are mainly served by the dealer channel, which finally accounted for 21.3% of the market, with 37,237 transfers.
Ignacio de Benito, Chairman of the Board of Directors of niw.es, a digital platform for the purchase of dealership vehicles less than 5 years old, promoted by Faconauto, has analyzed this data by age. «Again, this month we see how the vehicles less than five years old continue to earn interest of buyers and remain on the rise. Undoubtedly, this segment of young used will contribute to the revitalization of the sector and will continue to bring good news to the industry due to the high demand and the number of operations it generates. This trend will continue next year, as the used vehicle will be even more competitive in the face of the rise in registration tax ”.
In relation to the other sales channels, they have increased that of renting with 29.6%, that of companies with 11.8%, and that of imports with 2.8%. The rest of the channels have presented decreases this month compared to November 2019, the most pronounced in that of “rent a car”, with 42.8%, and tactical registrations, with 38.9%. The retail channel has fallen by 1.4% and the buy-sell channel by 0.2%.
The fuel most demanded by used vehicle buyers was once again diesel, which represents 59% of the market, with 102,806 transfers. Gasoline, for its part, represents 37.8%, with 66,118 units sold. However, the rises in diesel and gasoline mild hybrid with 212% and 137% respectively. On the other hand, electricity transfers also increased by 123.5%.
“The month of November follows the trend of last month, and falls again, although it does not alter the year-end forecasts, which we place at a drop of 14%, with more than 1.8 million units transferred. For yet another month, we are witnessing the growth of vehicles less than five years old, which continue to gain importance for buyers. As for fuels, we see how diesel and gasoline maintain their hegemony, but the increases, and this is the novelty, come from the hand of electric and hybrids because these technologies are reaching the used market with joy “, he said Raul Morales, communication director of Faconauto.