The Seat Leon has emerged because the UK’s fastest-selling used automobile, taking a mean of simply 10 days to go away retailers’ forecourts, in response to the newest knowledge from Auto Dealer.
Promoting twice as rapidly because the nationwide common of 26 days, the demand for the hatchback marks the quickest tempo for over three years and displays the underlying energy of the used automobile market.
The enduring Spanish petrol plug-in wasn’t the one low emission automobile to characteristic on this month’s listing of quickest sellers, with the all-electric Tesla Mannequin Y making it into seventh place, taking a mere 12 days to promote.
Nevertheless, the present listing is dominated by inner combustion engine (ICE) variants, which incorporates the petrol Vauxhall Crossland (aged 3-5 years), which is at present the second quickest used automobile to promote, taking a mean of simply 10.5 days.
Auto Dealer’s knowledge highlights the appreciable nuance within the used automobile market, with vital variances throughout gasoline kind, age and model kind.
For instance, petrol vehicles are at present promoting at a faster tempo than some other gasoline kind, taking a mean of 25 days, versus 28 for diesel and 32 for electrical. Nevertheless, when taking a look at a extra granular degree, electrical vehicles aged three-five years-old the place many of the EV inventory sits are promoting in 28 days.
Auto Dealer stated it’s price noting that provide of used electrical automobiles aged under five-years-old is up 4% year-on-year, while petrol and diesel is down -9.3% and -31.5% respectively (as a result of drop in new automobile gross sales over the pandemic, in addition to a shift away from diesel extra broadly.
Though stabilising in latest months, demand for used electrical automobiles has surged during the last yr, fuelled by a compelling mixture of softening costs, in addition to improved availability and selection on account of the elevated ranges of provide into the market. Auto Dealer’s knowledge exhibits that present demand on its market for used EVs aged under 5 years outdated, is up by 56% YoY (versus 0.7% for petrol and -18.8% for diesel).
Trying on the knowledge by age, the present slowest promoting cohort are almost new automobiles, these aged lower than one-years-old, taking over common 30 days to promote, six days slower than these aged 1-3 years outdated (24 days).
Regardless of robust general demand on Auto Dealer, up 26.6% YoY, this almost new age group is recording the most important improve in provide development (36.5% YoY). This age cohort is dominating the present slowest promoting vehicles out there, accounting for 70% of the listing.
In response to the information, quantity vehicles are at present taking the least period of time to promote, leaving forecourts on common in simply 25 days, in comparison with the 29 days for premium manufacturers.
Commenting, Richard Walker, Auto Dealer’s knowledge & insights director, stated: “The pace during which used vehicles are promoting is an efficient barometer of well being out there, so it’s reassuring to see that inventory is constant to show rapidly. We might even see some slight motion by the tip of the month, however at this mid-way level, we’re seeing used vehicles shift at close to file ranges.
“The variances we’re seeing throughout totally different cohorts is an efficient reminder of simply how vital it’s to comply with the information at an nearly forensic degree; there’s enormous alternative, however what’s proper for one forecourt isn’t essentially proper for an additional, in order at all times, use the information obtainable to identify these vehicles which are promoting the quickest in your native market.”
Quickest-selling used vehicles as of mid-March 2024
Slowest-selling used vehicles as of mid-March 2024
