Used car market shows a positive October 2024
The used car market recorded a positive October with 534,809 ownership transfers, an 8.5% increase compared to October 2023. This growth, encompassing both net transfers (+9.7%) and minivoltures (+6.9%), brings the total for the first ten months to 4,473,787 transactions, up 7.8% year-on-year. However, figures remain below 2019 levels (-5.9% in the month, -3.7% cumulative).
Fuel types: diesel and petrol dominate but decline
In the used market, diesel remains the leading fuel type but continues to decline, dropping to 42.9% in the month and 45.1% year-to-date. Petrol follows at 39.5%, while hybrids reach 8.6% in October. Other types like LPG (4.8%) and methane (2.1%) remain stable, while electric vehicles (BEVs) and plug-ins show growth at 0.9% and 1.1%, respectively.
Regional distribution: Lombardy leads the way
Regionally, Lombardy leads with 16.3% of October’s transfers, followed by Lazio (9.7%) and Campania (9.1%). Growth is particularly strong in industrialized areas.
Age trends: younger cars gain ground
Cars over 10 years old account for 47.7% of net transfers, a decline from previous periods, while vehicles under 4 years increase their share to 23%.
Minivoltures: spotlight on short-term rentals
In the minivolture segment, buybacks from short-term rentals grew significantly to 7.7%. Long-term rental vehicles also gained, reaching 11.3%. Hybrid vehicles rose to 13.1%, while diesel and petrol declined to 45.7% and 31.3%, respectively.
Final thoughts
The used car market demonstrates significant resilience despite not yet returning to pre-pandemic levels. Shifting fuel preferences and the rise of younger vehicles highlight ongoing transformations in the sector.
