12:08 pm, November 20, 2017
USED cars are becoming more important for franchised dealers as new car sales decline, according to data from Motors.co.uk.
Trends from more than 500,000 vehicles listed on the company’s platform showed that franchised dealers stocked 10 per cent more used cars in October than they did in September and sold them 10 per cent faster.
The increased focus on used cars came as franchised dealers attempted to compensate for softening new car sales, as well as an increase in part-exchange vehicles entering the market following the September plate change.
Motors.co.uk’s data also showed a decrease in consumer interest in diesel vehicles, which took an average of five days longer to sell than petrol models.
Phill Jones, pictured, managing director of Motors.co.uk, said: ‘The data reflects the growing importance of used vehicles to dealerships as the new car market softens.
‘Put simply, franchised dealers are having more success with used cars – selling more of them and selling them faster. We expect used cars to grow in importance for franchised dealers over the coming months.
‘However, although we have seen an uplift on used vehicle data during October, we are entering a quieter time of year when many businesses are positioning for a successful 2018. Our data provides dealers with insight into how consumer demand is altering.’
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