Brazil's used‑car market stays hot as prices slide and demand rises

The Brazilian market for used vehicles continued its strong performance in early 2024. According to the IBV Auto index from Banco BV, sales of pre‑owned cars rose 0.55 % in February after a 0.9 % gain in January, marking the best monthly growth since 2022. Analysts attribute the boom to high new‑car prices, tighter credit, and consumer preference for low‑kilometre, well‑equipped models that offer better cost‑benefit and lower depreciation.

Several vehicle examples illustrate the trend. The 2018 Honda CR‑V Touring, the brand’s largest SUV, fell about R$ 44 000 in resale value and can now be bought for roughly R$ 135 000, positioning it competitively against new compact SUVs such as the Hyundai Creta and Toyota Corolla Cross. Meanwhile, the Chevrolet Tracker Turbo AT, priced at R$ 99 990 for eligible PCD buyers, undercuts rivals Hyundai Creta and VW T‑Cross, highlighting aggressive pricing in the compact SUV segment. A broader list of models with strong value propositions was also published, featuring the GWM Haval H6, Citroën Basalt, Peugeot 208, CAOA Chery Tiggo 5X, and Ford Ranger.

Overall, the influx of low‑mileage, well‑spec‑ed used cars is boosting liquidity for sellers and offering buyers affordable, feature‑rich options, reinforcing the resilience of Brazil’s automotive sector despite elevated interest rates.