Mercado Libre produced its quarterly report that analyzes the behavior of the automotive market in Argentina. According to the results obtained, a growth in searches and purchase intention is observed, with work vehicles such as Pick-Ups and 0KM Vans maintaining their demand despite the social context of isolation.
If we analyze the Latin American market , the situation was similar throughout the region: there is a drop in the second quarter and then a recovery. The only country that did not follow this pattern is Uruguay, less affected by the COVID situation than the rest of the countries.
What are Argentines looking for?
In the third quarter of the year there was a recovery in demand, with an increase of 27% compared to the previous quarter. If we concentrate only on the 0Km models , they had an increase of 38% compared to the same period of the previous year.
At the same time there is a growth in the demand for work cars ( Pick-Ups and Vans), being the only models that were not affected by the current situation.
The Hatchback, SUV and Sedan models were the most demanded in the third quarter, with Toyota Hilux being the star of the year, leading the ranking of the most demanded. The podium is completed by Ford and Volkswagen, which shared the top 3 with the Gol, F100 and Ranger.
If we talk about brands, Volkswagen is the most sought after brand so far this year. It is followed by Ford and Peugeot in third place, despite having almost no presence in the top 10 most sought after models.
September 2020: ranking of the most wanted 0Km models
The market recovery is also observed in the purchase intention, which had a recovery of 12% compared to the second quarter of the year. The vehicles most consulted are used cars but, in relation to the same period of the previous year, there is an 80% increase in inquiries to new vehicles.
Ranking of 0km models with the highest purchase intention
What the market offers
Supply is a variable that recovers in the third quarter of the year, since publications increased in relation to the previous months. However, if we compare with the third quarter of 2019, a 10% drop is detected.
In 0km, the offer of Hatchback and Pick-Ups predominates and, in the last quarter, there was a strong growth of Minivans and Picks Ups. In the used market, with 35% of the market, the Hatchback models lead the ranking. In turn, a sedan and SUV recovery is seen.
"Mercado Libre continues to position itself as a benchmark in the automotive market and after a year that began in decline as a result of the context, during the third quarter it shows clear growth ", commented Juan Manual Carretero, Commercial Manager of Real Estate, Vehicles and Market Services Free. "The current situation also invites new consumer behaviors, prioritizing the vehicle to move . "
Where is the market going
According to the survey conducted by Mercado Libre, 46% of Argentines believe that they are going to modify their ways of moving after quarantine, prioritizing the private car as their main option.
In turn, 71% of users think that it is a good time to buy a vehicle and would do so if they have the possibility. In line with this, 45% admit that they will change their car after the quarantine. However, 45% prefer to do it through an individual.