The market has seen a significant recovery, with financing options, price stability and, above all, an increase in the price of new vehicles.
In July, the market of used cars reached a historic milestone, standing out for an “impressive” recovery, according to dealers.
The remarkable recovery is mainly due to the improvement in financing options, price stability and the increase in the cost of 0km cars, which led many to opt for second-hand vehicles. Alejandro Lamas, Secretary of the Chamber of Automotive Commerce (CCA)noted that the July figures are surprising, with real and hopeful growth for the second half of the year. The decline in inflation and more accessible interest rates contributed to this phenomenon.
Specifically, July 2024 saw the sale of 183,668 used vehiclesa level that had not been recorded in years. This figure represents a 18.98% increase compared to July 2023when they were sold 154,367 units, and an increase of 48.26% compared to June, which had 123,882 vehicles sold.
vw gol trend.jpg
Although in the first seven months of the year they were sold 923,066 unitswhich still reflects a down 3.07% Compared to the same period last year, July growth was remarkable.
Lamas stressed that July 2024 has set a historical record since 1995, the year in which data on the used car market began to be recorded. “So far, the closest month to this volume was July 2013 with 177,573 units,” he explained. The executive explained that four key factors have driven this performance:
- Greater supply of available cars.
- Financing rates more in line with projected downward inflation.
- Exchange rate gap that has made the price of vehicles in blue dollars cheaper.
- Stability in pricing policy, with increases below inflation and in some cases without variations.
Lamas He concluded optimistically, hoping that if this trend continues, the year could end with sales figures equal to or higher than those of 2023.
Ranking of the ten best-selling used cars in July
- VW Gol and Trend: 10,558.
- Toyota Hilux: 6,991.
- Chevrolet Corsa and Classic: 5,888.
- VW Amarok: 4,778.
- Ford Ranger: 4,736.
- Toyota Corolla: 4,221.
- Renault Clio: 4,116.
- Ford Fiesta: 3,993.
- Ford Focus: 3,766.
- Ford EcoSport: 3,733.
June-July sales by province
- Buenos Aires: +45.48%.
- CABA: +36.32%.
- Catamarca:+69.39%.
- Chaco: +75.95%.
- Chubut: +60.52%.
- Cordoba: +49.80%.
- Currents: +62.17%.
- Entre Rios: +49.12%.
- Formosa: +86.47%.
- Jujuy: +73.65%.
- La Pampa: +50.35%.
- La Rioja: 57.09%.
- Mendoza: +39.55%.
- Missions: +63.58%.
- Neuquen: +35.64%.
- Rio Negro: +48.53%.
- Salta: 62.24%.
- San Juan: +57.24%.
- St. Louis: +64.45%.
- Santa Cruz: 52.41%.
- Santa Fe: +53.99%.
- Santiago del Estero: +53.98%.
- Tierra del Fuego: +48.15%.
- Tucuman: 60.42%.
Source: Ambito
I’m a recent graduate of the University of Missouri with a degree in journalism. I started working as a news reporter for 24 Hours World about two years ago, and I’ve been writing articles ever since. My main focus is automotive news, but I’ve also written about politics, lifestyle, and entertainment.
