Please find Auto Trader’s February Monthly Market Intelligence Report here.
This month’s highlights:
- The recent momentum in car buying activity continued into February with total site visits to Auto Trader increasing 19% year-on-year and used car sales (based on the stock removed from Auto Trader in February) increasing 7% year-on-year.
- The Auto Trader used car market health metric was positive for the second consecutive month as supply slows further, and demand improves on a year-on-year basis.
- Used cars sold every 25 days in February, one day faster than 2022 and five days faster than the pre-pandemic 2019 period.
- Used car retail prices increased by 1.3% on a year-on-year and like-for-like basis, marking 35 consecutive months of growth. Whilst used petrol and diesel cars showed modest levels of price growth, the emerging electric car market faced year-on-year price declines as supply returns to the market and outpaces demand.
- On a month-on-month basis, used car prices rose 0.3%, which was broadly in line with the average retail price change seen in pre-pandemic Februarys between 2011 and 2019.