Nearly-new cars prices should fall more starting this week

By Redação AutoIndústria | 6/12/23 | Translated by Jorge Meditsch

Considering the government’s incentive measure to the automotive sector, Mobiauto did a study to evaluate possible reflexes on the used cars market. The research comparing prices from the first week of June and the same period in May shows a 5.1% fall in nearly-new car prices.

“We found models with extremely high demand, such as the 2020 Hyundai HB20S, that fell less than 1%. On the other hand, the price of a Chevrolet Joy, a discontinued model with less resale appeal, slumped more than 10% in a single month”, said Sant Clair de Castro Jr., Mobiauto’s CEO and automotive consultant.

The study reflected the expectation of reduction of new cars’ prices, not the new manufacturers suggested prices that were issued after June 6, when the government measure benefitting models up to R$ 120 thousand was published.

With the incentives, the Brazilian market’s most affordable models, Fiat Mobi and Renault Kwid, had their prices reduced by R$ 10 thousand to R$ 58,990. R$ 8 thousand of the reduction was due to the discount promoted by the government, and R$ 2 thousand were from the manufacturers. According to Mobiauto, now that the new car prices, including the discounts, have been released, the used car prices should drop even more.

“Slightly new car prices use to mirror what happens to brand new models”, explains Castro Jr. “As some new models prices can fall by more than 10%, I would say that the average index we obtained tends to expand a some more”.

The consultant emphasizes variations due to regional inventories: “In a city where the dealer net has ten units of a slightly new car in inventory, the prices will fall less than in another region where there are 50 cars in the inventory”.