Retail
- Consumer demand for used cars remained steady throughout October, with average days in stock down -3% month-on-month, and level year-on-year, at 37 days
- Franchise dealers saw average days in stock increase in October by 1 day year-on-year, up from 37 days to 38 days. Car Supermarkets saw average days in stock increased by 8 days year-on-year, up from 20 days to 28 days
- Independents averaged 45 cars in stock in October, compared with 44 in both September 2018 and October 2017
- Year on Year, Estates and Large vehicles saw the sharpest increase in consumer demand, selling on average 3 and 4 days quicker in October vs. October 2017
Dealers
- The Market Overview Survey cited 37% of dealers report margin pressures and 77% cited the current demand for used vehicle stock either the same or worsening compared to 2017
- The Market Overview Survey indicated dealers support the data indicating the strength of the used vehicle market, with half reporting decrease in overage stock
- 29% of dealers responding to the Market Overview Survey indicated sourcing stock will toughen whereas 60% cite no change and 29% are positive about the economy in the final months of 2018
Wholesale
- Dealer Auction reported increased volumes, up 16% year on year, with a 7.9% year-on-year increase in average selling price (£4,829)
- Attendance at all Manheim auctions nationwide was high, and we saw a greater willingness by dealers to travel further to obtain good stock
- Strong demand was also reported for high specification vehicles, with valued extras such as panoramic roofs, privacy, larger alloys and reversing cameras achieving in excess of cap clean
- Retail part-exchanges performed well, and the corporate and fleet market also achieved strong prices in the direct supply market
- Hybrids remain interesting, there is little appetite to purchase plug-in electric vehicles while logistical infrastructure remains low
