Retail
- Overall, with a year on year reduction in days in stock, vehicles sold on average 3% quicker in August 2018 vs August 2017 (down two days to 38 days), while the average sold prices of vehicles held steady at £14,370 (up 4.4% on August 2017)
- Despite ongoing media pressures, diesel vehicles continued to sell well (six days faster than the same period last year), while petrol vehicles remained on forecourts for an average of 27 days (the same as last year)
- In contrast, hybrids sold two days slower (41 days) than last year
- Both franchised and independent dealers saw a decrease in days in stock in August 2018 vs last year whilst supermarkets saw an increase in days in stock of 5 days vs last year
Wholesale
- Diesel vehicles continued to make ground despite ongoing market pressures, as average wholesale prices increased by 3.4% on 2017 at £8,335. Petrol also remained positive, up 6.1% to £4,730
- Dealer Auction reported the average selling price of vehicles remained steady at £4,607 whilst volumes increased 11%
- Vendors have been willing to sell vehicles for less to offload stock during the month of August but could toughen in September as demand increases
- The market is holding steady and volumes coming through the lanes continue to interest buyers, especially car supermarkets who have been tempted by the varied mix of brands on offer
- Supply shortages in the new car market, caused by the pressure of the WLTP regulations, will help increase demand in used cars for the short to medium term, potentially beyond year-end
Dealers
- 43% of dealers report margin pressures as half indicate stock availability toughening compared to the same period in 2017
- Nearly half of dealers indicate a reduction on consigned stock as WLTP forces registration activity and a third report used car average reduction
- 32% of dealers support indications that sourcing ‘ready to retail’ stock will toughen and mixed opinion towards the economy in the final quarter of the year
