Second-hand cars: the Argus suspends its rating for the duration of the containment period.

Automobile: the second-hand market starts again

Posted on 11/06/2020 at 11:19 a.m.

The resumption of used car sales is faster than expected, according to industry professionals.

by Mieux Vivre

The pre-owned vehicle market is rebounding with surprising rapidity, while it has not been spared from the coronavirus, but it has been more resilient than that of new vehicles, with registrations down March and 77% in April, but the decline was steeper for new models, with -73% in March and -89% in April.According to data from AutoScout24, taken up by Les Échos, the market decline was 34.3% in May, compared with May 2019, while the new home market recorded a decrease of 50.3%.

"The recovery was very rapid, much more than we could have thought," explains Vincent Hancart, general manager of the specialized website.Other professionals in the sector confirm this rebound in the number of vehicle registrations "It's a good surprise," comments Christophe Maurel, president of the concessionary branch of the National Council of Automobile Professions (CNPA), while David Rairolle, director of activity at VPN Autos, speaks of a restart "beyond" expectations.

Conversion premiums should boost recovery

Before the crisis, the sector already recorded transactions up 12.4% in January and 7.8% in February, compared to 2019.The 200,000 conversion premiums financed by the government accentuate this recovery trend fast in the second-hand car market.Households would be less reluctant to make a decision to buy a second-hand vehicle because the amount to be committed is lower and there is no waiting period for delivery as for new vehicles.

Posted Date: 2020-06-11

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