Used Car Dealers Carry More Stock And Sell It Faster
- July 22, 2019
- Posted by: John Swift
- Category: Automotive Industry
Independent used car dealers carried more stock last month and sold cars faster than a year ago, according to the latest market analysis.
Stock levels rose by 7% from 43 to 46 units but dealers enjoyed both year-on-year and month-on-month improvements. Vehicles averaged 36 days in stock in the month of June 2019, compared with 40 days last year and 41 days in May 2019.
The data in the latest ‘Market View’ from Motors.co.uk, was bought by eBay in February. It showed that franchised retailers stocks went up fractionally (2%) to 61 units and supermarkets by 7% from 655 to 703. The fastest-selling cars in June were sold by supermarkets averaging 24 days, compared with 27 days in June 2018 and 27 days in May 2019.
Dealers taking advantage of better stock availability
Dermot Kelleher is the head of marketing and business intelligence at Motors.co.uk. They analyse the consumer response to more than 700,000 used vehicles on its website and its network of partner websites. Allowing them to identify key trends in the vehicle segment, fuel type and dealership categories.
“Our Market View shows dealers across the board taking advantage of better stock availability in the wholesale market and, despite reports of a softening of the retail market, selling cars faster year-on-year.
“These improvements are encouraging in what remains a challenging used car market with ongoing political uncertainties continuing to dent consumer confidence. Dealers are clearly working hard to attract and win customers by using their digital marketing channels to price to market.”
Electric cars were the fastest sellers averaging 36 days but accounted for just 0.3% of dealer stock. Petrol cars averaged 37 days, hybrids 38 days and diesel 39 days.
The fastest-selling used car in June was the Mercedes-Benz GLA, taking just 26 days to sell. Followed by the Peugeot 207 (27 days), Citroen C4 Picasso (28 days) and Vauxhall Zafira (28 days).