The price of used cars has increased by 1.4% in the Canary Islands in November, but remained below the national average, with a cost of 11,759 euros compared to 12,949 euros of the national average.
The price of used cars rose in the province of Santa Cruz de Tenerife and fell in Las Palmas, as explained in a statement by the National Association of Vehicle Dealers (Ancove).
In monthly terms (October 2024), the sale price of used cars rose by 1.4% in the islands, while it decreased by 0.04% in the country as a whole.
The segment of those over 8 years old were paid in the Canary Islands at 8,989 euros in November, a 12.1% year-on-year increase, while at the national level the price was 10,106 euros, 4.5% more.
Compared to October, the price of used cars increased in the region by 5.3% and in the national average they became 0.8% more expensive.
The weight of these cars was 62.7% of the total second-hand market, compared to 59.8% nationally.
In November, the price has risen by 1.5% year-on-year, to an average of 12,949 euros in Spain, the same increase as in October and slightly above the annual average.
Thus, in the first 11 months, the acquisition of a used car has meant an outlay of 12,785, 1% above the same period last year.
In relation to October, there was a decrease of 9 euros, an imperceptible - 0.04%.
In the segment of cars over 8 years old, 59.8% of those sold, the price of the 113,157 cars transferred in November reached 10,106 euros (the third consecutive month that exceeds the ten thousand euro barrier), 4.5% year-on-year.
Compared to the previous month, it increased by 0.8%, moderating the year-on-year increases of previous months.
Prices rose in all communities, with the exception of Asturias, where they fell by 1.6% compared to November 2023; Cantabria and Extremadura, 1.8%, and the Foral Community of Navarra, with a year-on-year reduction of two tenths.
The largest increases occurred in the Balearic Islands (6.7%) and the Basque Country (3.9%) and in the market for cars over eight years old, the largest increases were recorded in both archipelagos.
The president of the National Association of Vehicle Dealers (Ancove), Eric Iglesias, said in a statement that the second-hand market "continues with the trend of replacing older cars with more modern units", which is "good news" for "the benefit for road safety and the environment".
In any case, he stressed that this replacement is being done very slowly, as 6 out of 10 cars sold in November were over 8 years old.
