Posted on Jan 6, 2021 at 8:00 am
The used car market is attracting increasing attention from large companies, whether they are in the sector or not, and it is not the 2020 vintage that will contradict the trend. If sales of new vehicles collapsed by 25% last year in France under the impact of the health crisis, the second hand has shown strong resilience, with a decline of only 4.5%. The number of transactions (5,518,000) was more than three times higher than new car registrations.
Despite its size, this market has long been neglected by manufacturers. “They were not interested in it or broke their teeth because each used car is unique, points out Frédéric Lecroart, founder of the online platform Carventura. To sell, you have to be tailor-made, and manufacturers are more comfortable with large series. “ Marc Lechantre, who heads this activity at PSA, confirms this: “In the sector, the market has long been considered as a consequence of new”, with the need to dispose of the vehicles recovered as much as possible within the framework of the trade-in offers.