Growth that is set to continue, according to research by Technavio[1]. The worldwide used-vehicle market should grow by about 7% per year between now and 2021. In France, the used-vehicle market was around three times the size of the new-vehicle market in 2016 (5.6 million units sold, up 1% on 2015). In the first half of 2017, the used-vehicle market posted a record sales volume. Over 2.9 million used vehicles were sold over this period, up +2.1% compared to the first-half 2016. A new record was also reached in the UK, with over 3.3 million used vehicles sold between January and June 2017.
So why are buyers increasingly interested in used vehicles? First, due to the attractive pricing. Thanks to the high number of used vehicles on the market, customers are easily able to find a vehicle that suits their needs and, above all, matches their budget. Special financing solutions, available in just a few clicks online, have likewise won over many customers. In the first half of 2017, used-vehicle financing contracts signed with RCI Bank and Services amounted to 158,049 customer files, up 16.7% on the first half of 2016.
Apart from value-for-money of used vehicles, the range of related services offered by carmakers is seducing more and more customers. Why? Because they guarantee the quality of second-hand vehicles. For several years, RCI Bank and Services has therefore put forward a range of services specially adapted to used vehicles. For example, DIAC, the French subsidiary of the group, offers three years of maintenance for only €1. RCI Bank and Services España offers a five-year warranty extension for all vehicle financing, so customers can drive with peace of mind.
A controlled budget, special financing solutions, a wide range of services ... There is no doubt that the used-vehicle market will continue to win over customers in years to come.
[1] Technavio is a leading market research company with global coverage.
