7:27 am, March 8, 2021
The average used car list price rose by 1.5 per cent in February, Motors.co.uk has said.
The eBay Motors Group-owned business said the average advertised price on its platform increased month-on-month by £188 to £12,558.
Motors.co.uk said the increase was led by independent dealers whose advertised prices rose 3.3 per cent from January to £10,705. Prices at franchised dealers dipped 0.7 per cent, while car supermarkets were down 0.9 per cent.
Enquiry levels remained high with a 27 per cent year-on-year increase in dealer leads.
Motors.co.uk also said in-bound dealer leads in February marked their third successive month of growth, according to eBay Motors Group’s latest Market View analysis.
It said average days to sell remained unchanged month-on-month at 49.5 days, thanks to showrooms still being shut.
The fastest sales in February were achieved by independent retailers averaging 48.7 days, followed by franchised sites at 49.1 days.
Average month-on-month stock levels also remained steady dropping marginally to 50.6 from 51.5 units.
The car supermarket sector experienced the biggest month-on-month variations in both stock levels and days to sell, said Motors.co.uk. Stock volumes dropped 10.7 per cent to 349 units, while days to sale increased 8.9 per cent to 52.8 days.
The Ford Puma was the fast-selling used car on Motors.co.uk in February
Dermot Kelleher, head of marketing and research at eBay Motors Group, said: ‘The overall picture for February was a steady month, in line with January, with car dealers still only able to transact online.
‘However, with February last year marking the final full month of normal trading ahead of the Covid lockdowns, it’s encouraging to see enquiry levels performing so strongly with a 27 per cent year-on-year increase.’
He added: ‘This high level of buyer interest was aided by dealers showcasing their stock on online platforms and would have provided a welcome boost to those retailers who held their nerve on pricing.’
The fastest-selling used car in February on the platform was the Ford Puma (30.9 days), followed by the Citroen C3 Aircross (31.4 days) and Hyundai Kona (31.7 days).
Motors.co.uk said petrol remains the fuel of choice for car buyers, accounting for 51.3 per cent of views on its website and 54.4 per cent of all stock advertised.
Year-on-year interest in alternative fuelled vehicles continues to rise, albeit from low bases.
Hybrids accounted for 1.9 per cent of views and 2.4 per cent of total advertised stock volumes. While electric vehicles accounted for one per cent of views and stock.
Dealers in Scotland achieved the fastest car sales, averaging 39 days to sell, only four days longer than January 2020, followed by north west England (41 days) and the Midlands (43 days).
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