Sales of used cars in the Canary Islands grow by 3.5% in January

Sales of used cars in the Canary Islands grow by 3.5% in January

Sales of used passenger cars and SUVs in the Canary Islands grew by 3.5% in the Canary Islands in January compared to the same period in 2023, when 6,481 units soldaccording to data from the consulting firm MSI for the sector employers Ganvam and Faconauto.

Both employers’ associations reported this Thursday in a statement that in Spain as a whole, sales have increased by 14.9%.

This increase responds to the growth of operations with used vehicles from corporate fleets, says the note, which refers as an example to the leasing companies -which once the rental contracts have ended they sell these young used cars on the second-hand market-, since they registered 43% more transactions than in January of last year.

This increase in operations from fleets explains the increase recorded in sales of used young cars between one and three years old, which closed the month of January with an increase of 27%, reaching 10,410 units.

The models of between eight and ten years were those that grew the most, registering an increase of 28.3%, with a total of 7,889 units.

In this line, the data shows how the bulk of operations continue to be concentrated in models over fifteen years old, which accounted for 39.9% of sales at the end of last month, which represents a volume of 62,241 units, 18% more.

For employers in the sector, the second hand market must face a significant qualitative improvement, since the average age of used cars sold in Spain in January stood at 11.3 years, which demonstrates the need to implement effective measures to stop the aging of the fleet.

Regarding energy sources, operations with used diesel vehicles -which represented 53.8% of the totals- maintain the upward trend, with an increase of 10.7% during the month of January. Gasoline ones, for their part, increased by 13.6% in January, with a total of 57,908 units sold.

With respect to the alternative propulsionoperations with second-hand pure electric passenger cars began the year with a significant increase of 71.8% compared to January of last year, reaching 1,199 units sold, which represents 0.8% of the total market.

In your case, the plug-in hybrid sales second-hand vehicles increased by 52%, reaching a total of 1,816 units.

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