To understand why new car registrations continue to be in negative numbers, one only has to look into the pockets of users. In this 2022 its price has increased by 10%.
The socio-political-economic situation has generated a great uncertainty regarding new vehicle registrations it means. If everything goes as before, the market will be slightly above 800,000 units. However, one of the key factors for the reduction in new car sales in 2022 compared to the previous year is, without a doubt, the increase in their average ticket.
Because according to data from the National Institute of Statistics (INE), the Consumer Price Index (CPI) of the new cars rose to the all-time high of 10% year-on-year during the month of November, compared to the 9.5% recorded the previous month. The lack of components with the already long-standing microchip crisis together with the problems that the vast majority of manufacturers are having in their production lines are responsible for this situation.
In this environment, brands have opted for drive sales of the most profitable models and in the channels with the highest margin. Regarding the month-on-month variation, price growth in November was 0.8%, while the increase in the cost of new cars so far this year has stood at 9.7%.
The VO, also rise
The rise in the price of new cars has also been complemented by an increase in second-hand car sales, whose interannual rates last November stood at 15.2%. used and preowned they have not escaped the escalation of prices either Well, during the eleventh month of the year the rate increased by 2.2% while so far in 2022 they have already exceeded 14%.
Other sectors noticing the crisisOn the one hand, that of motorcycles, with its year-on-year price increasing by 5.2% in November, as well as one tenth in the month-on-month comparison and 5% since January. On the other hand, tires, which rose 13.8% year-on-year, 0.8% month-on-month and 12.5% accumulated; Likewise, the spare parts that have also seen how they have risen 8.6% year-on-year in the eleventh month of 2022. The monthly variation was six tenths upward and 7.5% since the beginning of the current year. Lastly, vehicle maintenance and repair services registered a 5.4% increase in their price compared to the same month of the year, with a monthly increase of 0.5% and 5.1% so far of exercise.