Sales of financed 0km cars fell by 11.3% in the first half of the year

The Financed car sales accumulated a drop of 11.3% in the first half of 2024compared to the same period in 2023. In the second quarter, the numbers improved compared to the first, although a monthly decline was observed in June.

According to a report from the Association of Automobile Dealers of the Argentine Republic (TO FACE), during the sixth month of the year, some 13,030 new vehicle registrations were registered in the National Registries, a 6.3% less than in May. 48% corresponded to operations through the channel Savings plan and 20% were bank loans.

According to the numbers from the survey, the branded financials They participated with 30% of the garments and the rest was distributed among the dealers and other entities.

Likewise, financed sales had a weight of 42.2% of the total purchase-sale operationswhich represented the highest percentage of the year.

It is worth noting that the biggest declines of the semester were recorded in the first quarter, while in the second quarter the numbers rebounded, although they are still far from recovering the cumulative figures for 2023.

On a year-on-year basis, financing showed an improvement of 9.5%. Most of the higher-volume brands are financing a larger portion of their sales than last year, with the largest percentages in the 2024 cumulative year being shown by Fiat (58.5%), Renault (51.3%) and Scania (45.9%).

Toyotathe country’s main producer and exporter, only had 24.3% of pledged sales, although there was a significant increase compared to 2023.

As for used vehicle claims, the 10,809 registered in June were the highest of the year. They represented an increase of 54.9% compared to June 2023, and 0.8% versus May.

“June was the second best month of the year, with a growth of 26.3% in total garments compared to the same month last year,” ACARA noted.