August was the best month of the year for used cars

Used automobile and light commercial vehicle sales went over 968 thousand units in August, a 10.9% increase over July. “It was the best month in the year”, commented the president of Fenabrave (the association of automotive retailers), José Maurício Andreta Jr, at the release of the used cars’ market data last Tuesday, 9/6.

“We had two consecutive months of growth, when used vehicle transactions had the best results so far. The automotive sector is consolidating the recovery after a challenging beginning of the year”, evaluates the executive, remembering that the interannual comparison fall, which reached almost 30% in the first months of 2022, is now 16.6%.

Considering all segments – light, heavy, implements and motorcycles – the used vehicle market registered in August 1,316,272 transactions in August, 9% more than in the previous month. Among cars and utility vehicles, models up to 3 years old were 11.7% of the total sold in the month. Year-to-date, these vehicles’ participation was 11%.

The truck segment, by its side, registered the second highest growth compared to July in all sectors, a 14.3% increase, totaling 34,234 units. According to Fenabrave, the road implements sales were the highlight in August, with an 18.7% increase, the best result in the sector

Buses grew 12.1%, with 4,627 units, improving the year’s positive result (+ 7.8%). The used motorcycle market also registered a positive performance in August (+9.3%) and, in the year, transactions already sum 1,964,471 units, a volume inferior only to used automobile sales in the country.

Fenauto, which represents the multi-brand retailers, also released a balance of the used vehicle market this week. According to the organization, vehicles 13 or more years old were the most wanted by the consumers, with 470,845 units commercialized until August. Enilson Sales, the association’s president, believes that until the end of the year the sector shall get close to 14 million vehicles commercialized.

“It will be less than last year, but we consider it a good result in front of the Brazilian market history, as this year we suffered a lot with the lack of new cars, the world crisis port-Covid, the Ukrainian war, fuel prices increase and the Brazilian politics polarization. Our expectation is still moderate but optimistic”, said Sales.