In July, 183,668 used vehicles were sold, which represented an increase of 18.98% compared to the same month in 2023. Compared to June (123,882 vehicles), the growth reaches 48.26%. What were the causes?
The market of used cars reached a record in July and showed a “shocking” recovery, according to dealers. This is largely due to greater financing options and stable prices, since brand new cars have become unattainable, which is why many people are turning to second-hand vehicles.
“This last month the numbers were shocking. The growth is real, we see a second semester with much more hope than the first. In the second half of the year, many of these unknowns will be cleared up, with inflation falling and reasonable rates,” said Alejandro Lamas, secretary of the Chamber of Automotive Commerce (CCA).
In July, 183,668 used vehicles were sold -a level that had not been seen for many years-, which represented an increase of 18.98% compared to the same month in 2023 (154,367 units). Compared to June (123,882 vehicles), the growth reaches 48.26%.
In the first seven months of the year, 923,066 units were sold, still a decrease of 3.07% compared to the same period in 2023 (952,297 units). “The sales of used cars in July have surprised us. This volume is a historic record since 1995, the year in which the first data on the used car market began to be processed, and from that time until now, there has not been a single month that has exceeded this figure,” he revealed.
“In these 29 years, July 2013 was the month that came closest to that volume, with 177,573 units,” explained the executive.
Lamas listed four reasons that have influenced achieving these numbers:
1- Stock available with much more existing product offering.
2- Financing rates more in line with projected downward inflation levels.
3- An exchange rate gap that favors a reduction in the price of vehicles in blue dollars.
4- Stability of price policy, since prices increased below the accumulated inflation and some did not even undergo modifications, remaining unchanged.
“We believe that if we continue along this path, we can end the year with the same sales volume as in 2023, and even, in the best-case scenario, surpass it,” Lamas said.
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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.
Used cars: 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
