Used cars sales increased by 14.29 percent last month, adding up to a total 17.32 percent jump so far this year when compared to 2009, which will cause a price hike due to larger demands being placed in response to the long delayed shipments of new cars.Alberto Príncipe, head of the Automotive Chamber of Commerce (CCA) explained that even though prices have not yet risen, a larger demand will cause for an increase in used cars prices.
And even though sales this year were higher than 2009, May saw a 7.57 percent drop when compared to April, largely due to the Bicentenary weekend holyday [sic] on May 24th and 25th.
Mr. Príncipe explained, however, that not every month would show a similar increase in sales and ratified that the sector's goal is to sell 1,450,000 units before year's end.
According to the CCA, 596,351 cars were sold during the first five months of 2010, 17.32 percent higher than the previous year.
Source: http://www.buenosairesherald.com/BreakingNews/View/36976
