1 in 3 Portuguese bet on buying used vehicles

1 in 3 Portuguese bet on buying used vehicles


The study by Observer Cetelem Automobile 2021 reveals that despite the economic crisis that the automotive sector is experiencing, with sales decreases above 32% compared to 2019, there are trends that remain almost unchanged and one of them is the attraction for the purchase of used vehicles in crisis period.

On a global average, 25% of the next purchases will be made in this market. The Portuguese, Poles, South Africans, Dutch and French are the ones that, in greater number, ponder this hypothesis. Chinese, Spanish and Japanese reject this perspective, in a percentage of about 90%. This trend continues to such an extent that, in the first months of the pandemic and compared to the same period in the past, Germany recorded a 64% drop in new vehicle registrations, but only 11% in used vehicles.

A secure economic value

In a context in which economic tension has strongly impacted families, the used car market makes a difference, as it has a smaller budget to spend on the purchase of a new vehicle. Observer Cetelem Automóvel 2021 sought to identify the arguments that reinforce the value of used vehicles and the price difference stood out, in comparison with a new one, being significant (48%) and a new model devaluing more quickly (34%).

Within the used vehicles there is a category that stands out in particular: those used with less than a year. About 1 in 4 respondents consider it “a good compromise” and 1 in 5 “an economical way to change the range”.

Methodology

The economic and market analyzes, as well as the projections, were carried out in partnership with the study and consulting company C-Ways, specialized in anticipation marketing.

Quantitative fieldwork was conducted by Harris Interactive from September 2 to 11, 2020 in 15 countries: South Africa, Germany, Belgium, Brazil, China, Spain, United States of America, France, Italy, Japan, Netherlands, Poland , Portugal, United Kingdom and Turkey.

In total, 10,000 people were interviewed online (CAWI collection method), aged between 18 and 65 years old, representing each country. The sample's representativeness is ensured by the quota method (sex, age). 500 people were interviewed in each country, except in France where 3,000 interviews were conducted.

About Cetelem

Cetelem is the brand of Banco BNP Paribas Personal Finance, present in Portugal since 1993. European leaders, we are present in more than 30 countries on 4 continents, employing more than 28 thousand people.

In Portugal, we have more than 700 employees and annually serve more than 1.3 million customers and are present in more than 2800 business partner establishments. Credit cards, personal credit, car and insurance solutions are the main products marketed by Cetelem and are available to consumers on the website, by phone and in the commercial establishments of the main partners in Portugal, in addition to being made available in our stores in Porto and Lisbon .

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