Retail

  • Retail market showed positive results during September, with the average sold price of vehicles increasing 1.6% to £14,599 (up 4.1% YoY)
  • Used car sales performed well relative to September ’17, with average days in stock down -8% to 36 days
  • Independent dealers sold vehicles 7 days faster on average and franchised dealers 1 day faster
  • Average independent dealer now stocking 44 cars – 3 more than in September ’17, with franchised dealers stocking one car less
  • Larger vehicles sold comparatively well in September ’18 with Estates (6 days quicker) 4x4s (4 days), and MPVs (4 days) all selling substantially quicker YoY

Wholesale

  • Dealer auction average sold prices rose 6.2% (compared to the same period last year), while volumes of vehicles coming through the online lanes increased by 10%
  • Selling prices remain steady and in line with the year-to-date average
  • Introduction of WLTP on the September new car market was severe and indicated a clear lack of preparation from a number of manufacturers
  • Used car market remains extremely strong with a 10% increase in conversion rates for vehicles sold under the hammer during September, and a similar hike in the conversion of provisional bids
  • Ex-fleet and manufacturer vehicles to remain at a premium as supply runs short

Dealers

  • 45% of dealers report margin pressures as 58% cited the current demand for used vehicle stock challenges compared to the same period in 2017
  • Dealers support the data indicating the strength of the used vehicle market, with only 1 in 5 reporting an increase in overage and days in stock
  • 32% of dealers support indications that sourcing ‘ready to retail’ stock will toughen and only 13% positive about the economy in the final months of 2018