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New and Used Car Buying Worldwide
Britain is the only major economy where two or more used cars are bought for every new one, according to the latest figures from TGI. GB comes bottom of a list of 16 countries surveyed, in 11 of which a greater proportion of consumers said that the last car they bought was second-hand than said it was new.
Greece is at the other end of the scale with almost eight out of ten choosing a new car over a second-hand one for their last purchase. Brazil, Hungary, Australia and Mexico have a fairly similar profile to Britain in this respect, whereas Spain, Japan and Italy join Greece in having more than two thirds choosing a new car.
The popularity of second-hand cars in the UK may be due to unwillingness to pay inflated prices: according to TGI, the average amount spent on the most recent new car bought is EUR 19,000 in Britain compared with EUR
13,700 in Spain and EUR 16,500 in France. Increasing numbers of British consumers are choosing to import vehicles from continental Europe.
In Western Europe , there is a definite trend towards using diesel fuel, seen as more cost-effective than petrol. In Spain over the last four years, diesel consumption has risen by 66% while petrol consumption is down 26%. The proportion of new car buyers using diesel has risen from a quarter to a third over the same period. However, the picture differs widely: in Hungary, for example, just 7% of new car buyers use diesel fuel and just 12% of used-cars buyers, while most use leaded fuel.
The motivation of new car buyers also differs a great deal. Half of new car buyers in Greece say that comfort is the most important thing in a car, whereas less than a third (29%) say that their car should catch people's attention; in Italy, as might be expected, looks are more important - 52% say it is essential that a car looks good; and in Spain, two-thirds of new car buyers claim that their car is 'only there to get them from A to B' - reliability is valued more than style and image or comfort.
Ratio of new to second-hand cars in 16 national markets
(most recently acquired car)
Source: TGI Global. Base: Individuals Aged 18+
[graphic]
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