Used cars remain popular. The figures are clear: with 84% of household automobile acquisitions and 5.2 million transactions in 2023, they represent three times the new market. The return of inflation is not unrelated to this success. “The ever-increasing prices of vehicles in the catalog are leading to a shift towards second hand, less expensive and quickly available,” notes Fabien Leblanc, strategy & performance director at Site de l’Auto. Unsurprisingly, models over 15 years old, the least expensive, recorded the best progression in 2023 compared to 2022: + 22.92%. A trend that will grow: a survey carried out by La Centrale reveals that 62% of respondents intend to spend a maximum of 15,000 euros, in 2024, on the purchase of a second-hand item while the average basket is around 19,490 euros for a gasoline and 22,390 euros for a diesel.
Added to the squeeze effect of shrinking budgets and rising prices is the growing difficulty of obtaining financing. “Interest rates have increased and banks are being very cautious. Consumers are facing increasing difficulties in accessing mobility, with the underlying risk of social breakdown,” confirms Romain Boscher, managing director of ‘Aramisauto. As a corollary, rental with purchase option is developing, encouraged by the sharing of interbank data introduced in 2018 by Europe. The credit subscriber is not required to provide his last three pay slips, his identity card, his proof of address, etc. All he has to do is click on an Internet link to authorize his bank to transfer the information. to the creditor. A welcome simplification!
Will the increased bonus of 1,000 euros, granted to individuals choosing this payment solution for used electric cars, convince customers? In the meantime, sales are flat, with an increase of barely 1.75%. “It’s an emerging market in our sector. In addition to a dissuasive price, these versions do not correspond to all uses and the implementation of low-emission zones is postponed. As a result, customers do not understand anything about the maquis of help is available and they no longer know what to do. In addition, the network of terminals is developing, but remains anemic.
Last but not least, the depreciation curve is very important. Technology and range are evolving so quickly that after a few years, the resale value plummets more than with a thermal model. These cumulative factors are fueling the wait-and-see attitude,” explains Romain Boscher. We have just noticed a surge in hybrids, more affordable and reassuring because they are automatically recharged while driving and are coupled to a combustion engine.
In fact, gasoline and diesel engines are on the rise and account for 90% of transactions on the second-hand market, half even going to diesel alone, of which 2.64 million copies changed hands in 2023. These models retain their image as robust vehicles, suitable for long distances, and still benefit from a lower pump price than gasoline. “The purchasing habits of the French are anchored over long periods and reflexes take a long time to evolve. Consequently, the only solution which will significantly accentuate the reversal of the market on this theme will be the systemic absence of diesel in the offers proposed by manufacturers”, diagnoses Fabien Leblanc. Suffice to say that diesel still has a bright future ahead of it.
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