The used vehicle continues to be the first option for the purchase of a car for Spaniards. Last year, for every new car that left the dealerships, 2.3 second-hand units were sold, confirming the trend of recent years that makes Spain one of the countries with the oldest fleet in Europe.
The average age of the cars that circulate on our roads is 13.5 years, 1.5 years older than the European average, according to the annual report Vehicles in use published in January by the association of European manufacturers ACEA with data updated in 2021.
The used car market also suffered last year from inflation. The average price of a used vehicle in 2022 was 17,990 euros, compared to 14,970 euros in 2021, according to data provided by the National Association of Vehicle Sellers and Repairers (Ganvam). The outlay to purchase a second-hand car was on average 20.2% higher than in 2021 and up to 32.7% higher than in 2019, the last year before the pandemic.
Never before has the price of used cars increased so much from one year to the next. This upward deviation of more than 20% is almost double the Consumer Price Index (CPI) for new cars, which in 2022 marked a historic record with a rise of 10.4%, standing at an average of 23,443 euros. .
“The used vehicle market is being a victim of the stagnation in sales of new cars,” say sources in the sector. “By increasing the price of new cars due to the lack of stock caused by the microchip crisis and logistical problems, the price of second-hand cars has also skyrocketed,” they add from Ganvam.
Last year, 1,885,553 used vehicles were sold in Spain, 5.6% less than in 2021 when the sale of used cars stood at the threshold of two million copies, specifically 1,997,148. By age groups, the most spectacular fall was that of cars between 1 and 3 years old (20.4%), which is explained by the difficulties that leasing operators had to renew their vehicle fleets.
As fewer pre-owned units arrived on the used market, consumers had fewer choice options. This translated into an 18% drop in sales of vehicles less than one year old and 20.4% of cars between one and three years old. On the other hand, the sale of cars over 15 years old grew by 6.2% in 2022 to reach 727,597 units, 38.5% of the total operations in the used car market.
Curiously, the cars with the greatest demand, the oldest, were the ones that appreciated the most. If a vehicle more than 15 years old cost an average of 2,990 euros in 2021, last year it reached a value of 3,990 euros, that is, more than a third more than 12 months before. Compared to 2019, the price increase is 47.8%, according to Ganvam data.
“The average age of the used vehicle sold was almost 11 years and reached almost 15 years in operations between individuals that accounted for more than 60% of transactions; a circumstance that accelerates the aging of the park, complicating the aspiration to achieve sustainable and decarbonised mobility”, admits the general director of Ganvam, Fernando Miguélez.
By Autonomous Communities, Madrid and Catalonia were the ones that registered the highest number of sales of young used cars. At the opposite pole, Andalusia concentrated 20% of the sales of used vehicles over 15 years old, above the national average (17.8%). Now, it was on the Cantabrian coast where these vehicles became more expensive last year. The prices of cars over 15 years old in Cantabria, Galicia and Asturias increased by more than 50% compared to 2021.
The best-selling second-hand cars last year were also the most polluting. 57.4% of all operations corresponded to diesel vehicles and 36.9% to gasoline. However, both engines closed 2022 with lower sales than in 2021. 8.8% fewer diesel cars were sold and 3.9% fewer gasoline cars.
On the other hand, 11,774 electric vehicle purchase and sale operations were registered, 16.3% more than in 2021. This figure, however, only represents 0.6% of the market share, due to the low supply of vehicles with this type of motorization and its high economic value, close to 40,000 euros on average.
For the third year in a row, the Volkswagen Golf led the used vehicle sales ranking in 2022. In total, 63,131 units of the German firm’s compact were sold, 4.3% less than in 2021 (61,426 copies sold), representing 3.3% of the total second-hand car market.
Two cars from the same business group, the Seat Ibiza and the Seat León, were the next best-selling cars. Of the Ibiza, 57,835 second-hand units were sold and of the León, 45,999.
Buying a second-hand car can raise doubts, especially when its previous owner’s use and maintenance history are unknown. In the case of acquiring it from an individual, it is advisable to make sure that the documentation is in order and that it is not a scam. The Organization of Consumers and Users (OCU) advises taking some time and doing a series of prior checks.
