Used vehicle market sees growth even amid pandemic

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Research shows the increase has been occurring for nine weeks

pre-owned vehicles see growth during the pandemic
In 2019, the pre-owned and used vehicle market in Brazil saw growth of around 2% compared to previous years. According to Fenauto – National Federation of Automotive Vehicle Dealers Associations, 14,592,691 vehicles were sold compared to 14,275,382 in 2018, representing an increase of 2.2%. This growth was also expected for 2020 and could be observed up until the first week of March, when sales were around 11.44% higher than the previous month, February.

However, with the arrival of COVID-19 in the second half of March and the rcs data america decrees that closed businesses and DETRANS in several regions of the country, retailers saw their sales decrease – in the first week of April, for example, only 3,796 units were sold per day. This number began to change positively from the fifth week of the same month, according to Fenauto, and remained high until May 31, even with a 34.4% drop in the year to date.

“This positive movement is important not only for our sector, but for the entire economy that has been paralyzed for so long. We are monitoring the consumer confidence index, in addition to the behavior of the spread of the virus transmission, to evaluate step by step what may happen”, says the president of the Federation, Ilídio dos Santos. Also according to the institution, the positive recovery of the vehicle trade can be observed for nine weeks , with its best in June, which had around 41,631 cars sold per day in the fourth week of the month and a growth of 2.78% compared to the previous week – this was due to the gradual reopening of trade and regional DETRANS.