Economy

Second-hand vehicle sales rise in the Canary Islands

So far this year, 7% more used vehicles have been transferred in the community than twelve months ago

Used Vehicles

In September, 9,277 used vehicles were sold in the Canary Islands, 4.2% more than in the same month of 2023, as reflected in its monthly report by the National Association of Vehicle Dealers (Ancove).

Of the total, 7,276 were passenger cars, which increased by 3% in annual rate, and 2,001 light commercial vehicles, with an increase of 8.8%.

So far this year, 7% more second-hand vehicles have been transferred in the community than a year ago, with a total of 88,986, of which 70,169 were passenger cars, which grew by 5.8%, and 18,817 vans, with an increase of 11.3%.

The second-hand vehicle market (passenger cars plus vans) has increased by an average of 5.3% in Spain, passenger cars by 5.3% and light commercial vehicles by another 5.3%.

In the national average, 8.3% more used vehicles (passenger cars + vans) have been sold than in the same period of 2023.

Specifically, in September 190,831 second-hand vehicles were sold in Spain between passenger cars and light commercial vehicles, which implies an increase of 5.3% compared to the same month last year.

In the case of passenger cars, 164,218 second-hand passenger cars were transferred in the month, 5.3% more than in the same month of 2023, and 26,613 vans, an increase also of 5.3%.

The first three quarters of the year accumulate 1,767,271 used vehicles transferred, 8.3% more than in the same period of 2023, of which 1,512,942 are passenger cars, whose sales increase by 8.2% over 2023, and 254,324 commercial vehicles, an increase of 9.1%.

By age group, the newest passenger cars (less than 12 months), from rental companies, stand out, growing by 9.2%, while the oldest (over 10 years) only grow by 1.4% in the month.

Electric vehicles grow by 49%, below 67% in the year, and their share decreases from 1 to 0.9% of total sales in September.

In addition, hybrids continue to grow, with plug-in hybrids doubling sales over the same month of 2023 and normal hybrids increasing by 21%.

However, like the rest of the alternative engines, they are testimonial in the second-hand market, with a share of 1.7% and 3.3%, respectively, in September.

One more month, Madrid and Castilla-La Mancha were the communities with the most sales in the national territory, while they have fallen in Andalusia, Cantabria, Castilla y León, Catalonia, Extremadura, Galicia, Murcia, the Basque Country and the Valencian community.

The president of Ancove, Eric Iglesias, has stated in the note that "sales rebounded in September and added a growth of 8.3% in the year, above the previous two years", which represents a "normalization of the market, after the recovery of stock after the shortage of 2023 and 2022 due to the chip crisis".

In any case, he said, the second-hand customer "continues to opt for combustion and old models, which prevents the renovation of the fleet".

According to Iglesias, "it is necessary to promote the most modern units and alternatives, to transform the second-hand market".