Older second hand diesel not dead yet
An older diesel car is still interesting for second-hand buyers. The second-hand car market concerns for 93% individual car buyers and they have no ‘green reflex’ yet.
“In the second-hand market the diesel car is still a good buy”, says Serge Istas, secretary general at Traxio (Belgian confederation of car dealers, car repair, etc.). “These cars are still cheaper to run than petrol ones and price is still the most important argument here.”
Where the new car market has totally turned against diesel the last years, the diesel share having fallen from more than two thirds six years ago to one third last year, the second-hand market still has other rules.
Last year 705.000 second-hand cars have been sold in Belgium, still some 160.000 units more than new cars. 55,6% of them were diesels, a slight regress from 58,8% in 2017, but in this market the diesel stays most important.
“In these 55% are many old to very old diesels sold between individual buyers”, says Danny Bultot, CEO at Soco group, a second-hand car dealer. “We are more specialized in recent diesel cars (2 to 3 years old) and there the shift from diesel to petrol is much more noticeable and comparable to that of the new car market.”
Price is all important
As said, the second-hand market is ruled by individual buyers. “For them, the two most important things are the state of the vehicle and its price, taxes included”, explains Serge Istas from Traxio. “As long as it is cheap and it still goes, all is well, there are no environmental considerations here.”
“In 2011 almost 3/4th of the new cars sold were diesels”, he continues, “these cars are now on the second-hand market, there is always a period of inertia between the two markets. So, we still sell more diesels than petrol cars in this market, but it’s true that prices are going down, given the uncertainty about this kind of fuel.”
That’s what Danny Bultot also notices: “Today you can find petrol cars, which are more expensive than their diesel counterparts and that’s something new. It’s the law of supply and demand. What’s coming out of the leasing market are still diesels, so the offer is bigger than the demand and prices go down.”
What about the alternative propulsion? Bultot sees no real market yet: “Their presence in the second-hand market is even more timid than in the new one, there is practically no demand for electric cars yet and also for hybrids it’s still a question of opportunities and not marketing strategies.”