Dealers warn that due to lack of stock the prices of used cars will continue to rise. The sale fell 11.3% in April.
The used car sales it fell 11.3% compared to March but was maintained in relation to the same month in 2022, while dealers warn that vehicle prices “will continue to rise due to lack of stocks.”
The president of the Automotive Chamber of Commerce, Alberto Príncipe, said that there is a sustained demand in the face of a low stock, so I estimate that prices are going to go up“.
“April ended with sales practically the same as the same month last year and growth in the first four months of 2023. But what is the reality of the sector? Today marks a sustained demand against a stock that is low, therefore, prices will undoubtedly go up,” he said.
He explained that “if there is a replacement of vehicles, more or less of the same value and the same mileage and model, the agencies sell, if they do not wait, like the rest of the commercial sectors, where if there is no replacement they have the merchandise retained. It is not a speculation, only the need to maintain capital”.
“It’s not the dollars or the pesos, the capital is the number of cars of the same quality and type that we have in stock,” the manager explained.
He estimated that “the market in general is not going to change much, neither because of the rise in the dollar, nor just because of inflation. These adjustments are made according to internal expenses outside of the vehicle itself, such as tax increases, rentals, general administration expenses, that way the prices of cars are increasing to be able to sustain the activity”.
The Chamber of Automotive Commerce reported that in April 130,167 used vehicles were sold in Argentina, a drop of 0.15% compared to the same month in 2022 (130,364 units). If compared to March (146,826 vehicles), the drop reaches 11.36%.
In the first four months of the year, 521,650 used vehicles were sold, and an increase of 2.28% was registered compared to the same period in 2022 (510,023 units).
Used cars: May prices
RANKING OF THE 10 MOST SELLING USED CARS IN APRIL
- VW Goal and Trend: 7,666
- Chevrolet Corsa and Classic: 4,284
- Toyota Hilux: 3,911
- Renault Clio: 3,339
- Ford Fiesta: 3,067
- Ford EcoSport: 2,841
- Fiat Palio: 2,786
- Ford Ranger: 2,752
- Ford Ka: 2,708
- Ford Focus: 2,662
Source: Ambito
