So far this year, the automotive market for pre-owned luxury vehicles, also called “high-end”, has registered positive dynamism. The aspirational vehicle consumer increasingly demands this type of vehicle since it maintains its added value at the level of engineering, technology, equipment, finishes, etc. Likewise, it offers a more accessible price since the economic difference versus a 0km is almost -40%. In this context, Ever Pérez, Commercial Manager of OLX Autos Peru, presents the results of his recent analysis on the evolution of the luxury pre-owned market during this year.
Main purchase alternative: Among the motivators for the purchase of pre-owned luxury vehicles, not only is the price (up to -40% of the price versus a 0 km), but also the opportunity that the market presents for resale. The depreciation of a pre-owned luxury, unlike a mid-range vehicle, is that its depreciation is almost zero, an ideal resale opportunity. For the end of the year, a 25% growth in sales of pre-owned luxury vehicles is expected, a positive scenario that may be further boosted by the recent announcements of the new withdrawal of funds from the Pension Fund Administrators (AFP) and from Compensation for Time of Service (CTS).
Buyer profile: The demand for pre-owned luxury vehicles is led by young people between 25 and 34 years old with 30%, followed by adults aged 35 and over with 70% participation. Most of them are in Lima and Arequipa as the main departments that encompass the total demand in the country.
Most demanded brands: With respect to the most demanded high-end pre-owned vehicle brands from January to May 2022) they were mainly the following: Mercedes Benz (26.2%) Audi (22.8%) BMW (21.3%) Volvo (14.5%). As for models, the most requested in this segment include two-seaters, sedans with coupé bodywork, convertible large coupé and high-performance SUV, with a mileage of less than 80,000 km.
Most requested average ticket: Although, at the beginning of this year, pre-owned luxury vehicles have had a slight increase in their prices, this has not affected their demand, since these average tickets are still less than 0 km. Thus, users opt for a high-end pre-owned in perfect condition and with the same features with tickets around US$23,000 to US$24,000.
Source: Gestion
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