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Used car inventories at car dealers fell 9.4% year-on-year, says Indicata

According to data released by Indicata, used car inventory levels at car dealers fell 9.4% compared to last month and fell 16.5% in September 2019.

According to the MarketWatch Insight Report, an inventory management specialist, the price of used cars has risen 27.5% from five months ago due to “serious price inflation” due to inventory shortages across the sector.

However, retailers are also benefiting from strong margins as high consumer demand continues. People’s Ford, Marshall Motor Holdings When Vertu Motors Among them, it emphasizes the positive impact of current trading conditions on profitability.

last week “I buy used cars everywhere I go,” Robert Forrester, CEO of Vertu Motors, told AM. As AM100 The PLC has implemented group-wide drives to take inventory to maintain volume flow.

In Indicata’s market data, Group Sales Director Jon Mitchell said: Dealer stocks are still under pressure, suggesting that prices will continue to rise. “

He added: “The market for the three best-selling cars has about six weeks’ worth of inventories, which also confirms how short the car market is. The second-hand market will be under these pressures over the coming months. Will work below. “

According to Indicata data, September electric vehicles (EVs) sold at similar speeds to September gasoline and diesel vehicles.

According to INDICATA’s MarketWatch Insight Report, inventory turnover for used EVs in September was 33% higher than the previous month and 87% higher than September 2020.

At 9.0, EV inventory turnover was 10.2, comparable to diesel.

Mitchell said: “September was a turning point for BEVs in that inventory days were closer to ICE vehicles than ever before, suggesting that the market is warming towards zero-emission proposals. “

Online B2C used car sales increased 0.8% in September compared to August, 20.8% higher than the same period in 2020 for the nine months to 2021, the latest “normal” trading year before COVID. It was 3.9% higher than the same period in 2019. -19 was struck.

In September, Indicata claimed that it also saw the first signs of a tactical manufacturer registration campaign. This is because car sales increased by 7% per month and 18% year-on-year in less than 12 months of age.

Indikata said: “The goal is to supply some cars to sectors that have been out of stock for the past two years, increasing inventory levels in October by 2.3% from September levels.”

According to Indicata data, the best-selling used cars in the UK in September were Ford Fiesta, VW Golf and Vauxhall Corsa.

As of the end of September, the markets for these three top-selling vehicles were in stock for 40.9 days, 38.6 days and 36.9 days, respectively, to make up for the current shortage.

Used car inventories at car dealers fell 9.4% year-on-year, says Indicata

Source link Used car inventories at car dealers fell 9.4% year-on-year, says Indicata

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