Lower supply and demand for used vehicles

Undoubtedly, the automotive market was notoriously one of the most affected by the pandemic. The drop in stock has been remarkable, causing the decrease of 31% in the supply of used cars in the last quarter compared to the same period of 2020, according to the “Radiography of the automotive consumer 2021”, of Yapo.cl corresponding to the third quarter of the year.
“Every quarter, with the radiography of the sector, we conduct a survey of users of the last three months in the car category in order to know their tastes, purchase preferences and relevant aspects when deciding to buy a car. 78% of them confirmed that they do not plan to sell their car, which in addition to ratifying the appreciation for the car today, indicates the awareness of the lack of supply in the market and how difficult it is to get another one, “explains Claudia Castro, classifieds manager of Yapo.cl.
While the drop in supply has been the tonic in recent months, the surprise was that demand also fell by 37%. This decrease is partly explained by the value the car took and because the cravings to acquire one already tended to normalize. In addition to people feeling a little safer on public transport, after the decrease in numbers regarding the pandemic.
Something similar happened with sales, during the third quarter we can see a decrease of 38% compared to the third quarter of 2020. “Following the release of sanitary measures in the step-by-step plan, we can see a decrease in car sales of 63% between the month of August and September of this year, although the sales time is still short. In the last 3 months, cars have taken 14 days, on average, to sell through our site,” adds the expert.
According to all these figures the market seems to begin to regulate, despite the fact that the lack of available stock continues to worry many sellers and consumers who have not been able to offer or buy their long-awaited vehicle for months.

Original source in Spanish