Large increase in used car sales in July

Illustrative image - Eric Piermont - AFP

Used car sales continued to grow strongly in July, rising 12.3% from the same month in 2019, with a total of 634,841 vehicles changing owners, nearly 50,000 sales more than in June, according to figures from AutoScout24.

Good news for French dealers whose stocks were overflowing: in July, 3.5 used cars were sold for every new vehicle sold.The new market has also regained its colors since stimulus, it rose 3.92% last month, according to figures released last Saturday.

A catch-up effect

The opportunity takes advantage in particular of measures encouraging people to change cars, such as the conversion bonus, which changes its formula on Monday, August 3, and had been open to more individuals since the beginning of June.

This increase in sales can also be explained by a catching-up effect after the collapse due to containment: the second-hand market plunged 35.2% in March, 77.3% in April and 34.3% in May.But with a 13% drop in sales since the beginning of the year (from January to the end of July), the results are less disastrous than on the new one.down 33.2%.

The opportunity in electric and hybrid

Due to its importance in the French car fleet, cars equipped with a diesel engine remain the most sold second-hand: 357,541 last month, a little more than 56% of the market share.However, the trend is downward.: in July 2019, nearly 63% of used vehicles were diesels.

As on the new market, gasoline is gaining momentum, with 40% of second-hand sales in July (256,195 units), against 35% a year ago.

Posted Date: 2020-08-28

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