Demand for used hybrid fashions is up 55% year-on-year with the petrol-hybrid Peugeot 3008 the UK’s fastest-selling used automobile, taking a median of simply 12 days to go away retailers’ forecourts.
In keeping with Auto Dealer analysis, such is the demand for the French SUV, the mannequin is leaving forecourts two weeks quicker than the present nationwide common.
To date this month, it’s taking a median of 26 days for used vehicles to promote throughout the UK, which is someday quicker than the identical interval final yr, and simply someday slower than March 2024, which at a median of 25 days, was the quickest tempo ever recorded by Auto Dealer.
It highlights the continued shopper demand for used vehicles, which was additionally mirrored within the file 89.1 million cross platform visits to Auto Dealer in March.
The Peugeot is joined by an extra 5 on this month’s record of quickest sellers, while throughout the retail market as complete, hybrid autos are actually the quickest promoting of any gas sort, at present taking simply 24 days to promote.
Used petrol vehicles are taking a median of 25 days to promote, adopted by diesel at 28, and electrical vehicles are at present taking round 29 days. Electrical autos (EV) aged 3-5 are at present taking a median of simply 24 days to promote, placing them on par with hybrids.
Extra broadly, demand for used electrical vehicles on Auto Dealer continues to far outpace that of their inside combustion engine counterparts, with present ranges up 59% YoY in comparison with a extra conservative development of seven.7% for petrol and a decline of -6.9% for diesel. Demand for EVs aged 3-5 years outdated is up an enormous 133% YoY.
Wanting on the information by age, these aged between 10-15 years outdated are at present taking the longest to promote, which at 32 days is greater than every week slower than the quickest cohort: 3–5-year-old vehicles are leaving forecourts in simply 24 days. Regardless of a optimistic enhance in general demand on Auto Dealer, up 2.8% YoY, this extra mature age group is recording a big enhance in provide development (11.2% YoY), second solely to these practically new autos (46.8% YoY).
In keeping with the info, quantity vehicles are at present taking the least period of time to promote, leaving forecourts on common in 25 days, in comparison with the 28 days for premium manufacturers.
Commenting, Richard Walker, Auto Dealer’s information & insights director, mentioned: “The velocity wherein used vehicles are promoting is an effective barometer of the underlying well being of the used automobile market, and because the begin of the yr, we’ve seen them depart retailers’ forecourts at a file tempo.
“We’ve additionally seen a major uptick within the variety of visits to our market over the quarter, reaching an all-time file of 89.1 million in March. Mixed, these metrics serve to focus on the continued energy of the used automobile market and the very strong ranges of demand from shoppers.
“While our outlook for the remainder of the yr is assured, retailers do face an extremely nuanced and complicated market; as ever, the satan is within the element, and I’d urge retailers to analyse the info on a granular degree to navigate the market and determine the inventory that gives essentially the most worthwhile alternatives for his or her forecourt.”
