Used Cars: Demand in the New Reality

During the first seven months of the year, 26,188 vehicles were imported to El Salvador, of which 18% were new units and 82% were used. Second-hand cars are still in demand in this new business scenario.

Monday, September 21, 2020

According to representatives of the Association of Vehicle and Automotive Parts Importers (Asiversa), the demand for used vehicles has been maintained in this context of economic crisis, but sales have fallen due to the drop in prices.

See "Car Brands in Central America"

Oscar Cerna, a member of Asiversa explained to that "... normally the prices of used cars range from $5,000 onwards, but that the demand and the current situation has meant that the values are handled in a range from $3,000 to $6,000."

In the context of the decreed home quarantine, changes in market conditions have been reported, since the restrictions on mobility that were decreed between March and August due to the outbreak of covid-19, together with the prohibition on the circulation of public transportation units, are factors that have increased the demand for private vehicles. According to importers, Salvadorans usually opt for used units.

You may be interested in "Vehicle Maintenance: Potential Market and Trends"

The rise in used vehicle sales has been on the rise for years, as the Salvadoran market went from importing 43,900 units in 2018 to 47,925 units in 2019, which represents a 9% increase.

In the case of the value of imports, it has increased by 12% for the years in question, rising from $100 million in 2018 to $112 million in 2019, according to the figures of the General Directorate of Customs (DGA).

Reports from CentralAmericaData indicate that more than 21 million people in Central America are looking to buy a vehicle on the Internet, and of this group of consumers, approximately 7% are exploring options to acquire an SUV type vehicle.

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