December 17, 2017
Sunday, May 18, 2014

Used car sales down 16.7% in April

The Automobile Commerce Chamber (CCA) has revealed that the sale of used cars fell for the second consecutive month, dropping 16.7 percent in April compared to the same period in 2013.

A total of 126,275 vehicles changed hands during the fourth month of the year, while 12 months ago 151,692 had been sold during April.

The fall represents the second straight month where sales have failed to reach 2013 levels, after plummeting 14.75 percent in March. January saw a rise of 7.5 percent in second-hand purchases, while in February figures increased by 10.5 percent compared to the previous year.

Taking the first four months of the year as a whole, a fall of 3.88 percent with the previous year was recorded as a total of 572,106 vehicles were traded.

"The fall in used vehicle sales that has been registered since the start of the year has led to a readjustment in our structure to adapt to new market realities," CCA president Alberto Príncipe explained.

"Our projections for this year, with regards to volume of sales for used cars, aim for an identical or similar market to that of 2013."

Despite the drop in sales, Príncipe affirmed that the outlook for the sector was actually positive.

"In the current context, I think this is the best time to buy, for both used cars and new ones. With regards to the former, it is the sector that has reacted quickest," he asserted, highlighting large hikes in the prices of new cars as a reason why consumers were opting to buy second-hand.
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Tags:  Used cars  CCA  fall  sales  

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