Auto Trader Fastest Selling Index - Volkswagen Touareg takes the top spot

The 2016 Volkswagen Touareg (diesel automatic) has been revealed by Auto Trader as the UK’s current fastest selling used car taking an average of just 22 days to leave forecourts.

SUVs are currently the most in demand body type on Auto Trader as eight 4x4s and crossovers made it on to the national top 10 list of fastest sellers. Based on the volume of searches and advert views, demand levels have increased 10% year-on-year (as of 15^th July 2021), whilst levels of supply have dropped -8.7%. This imbalance of supply and demand has not only given SUVs a very strong market health, a 20.5% increase year-on-year, but also helped drive used prices up significantly. Last week, the average price of a used SUV was £22,288, which is a year-on-year increase of 13.1%.

Commenting on the Index, Auto Trader’s director of commercial products, Karolina Edwards-Smajda, said: “We’ve seen already very strong levels of buyer demand accelerate following the reopening of physical forecourts in April, but it looks as though it’s been given an extra boost in anticipation of the easing of most COVID-19 restrictions this week. This is having a significant influence on the speed of sale and used car prices, as well as the overall market health. It is still crucial however, that retailers keep abreast of the micro and macro market conditions to inform their pricing and sourcing strategies, and ultimately, to ensure they are making as much profit from their forecourts as possible.”

In a further sign of ongoing strength in demand, Auto Trader’s market analysis has revealed that the overall national average days to sell has seen a dramatic decrease since the start of the year. The data shows that it currently takes an average of just 23 days for used vehicles to turn on UK forecourts, down from 43 days at the start of the year and representing a decrease of -47%.

Current fastest selling used cars (by days to turn) – as of 15^th July 2021: