Used and classic car markets grow amid technological shifts

The automotive market is experiencing a shift toward used and classic vehicles, driven by both economic factors and the principles of the circular economy. Rising prices for new cars have increased demand for second-hand models, which offer lower depreciation and greater accessibility to various brands.

Technological advancements, including remote diagnostics, sensors, and predictive maintenance software, are extending vehicle lifespans. These tools allow for proactive repairs, enabling well-maintained used cars to exceed 250,000 kilometers reliably. Additionally, the circular economy approach emphasizes repairing and updating existing units to reduce environmental impact.

On the collector side, automotive expert Rubén Fidalgo notes a rising valuation for classic cars aged between 30 and 50 years. This trend is fueled by nostalgia, as individuals aged 35 to 60 seek to reconnect with the vehicles they idealized during their youth.