Aston Barclay has developed a used car desirability index to help dealers understand what’s hot and what’s not in the market at the moment.
Drawing on its extensive used car database, the national car and van auction and remarketing specialist has created a unique formula to guide them on which used cars to stock and setting the correct reserve prices in this busy market.
The data takes three key metrics into account: web views ahead of sale, physical and online bids per sale and the sale price achieved as a percentage of CAP Average.
The formula gives an accurate representation of buyer habits during April and early May in Aston Barclay’s current hybrid physical and digital auction space, which has seen attendance go up.
Physical buyers are purchasing 60 per cent more used cars at the moment than digital buyers are, it says, and the index keeps in close touch with physical and online buyer trends.
Many of the top 25 cars on the list are SUVs, particularly at the premium end of the market such as the Audi Q5, Mercedes-Benz GLE, Jaguar F-Pace and BMW X5.
Four out of the top 25 are from Mercedes-Benz, reinforcing the brand’s strength in the current used car space.
The Tesla Model 3 is the only fully electric car on the list and the Kia Niro and Lexus NX the only hybrids, showing that the market’s current appetite still leans towards petrol and diesel cars.
The Lexus NX topped the table, while the Mazda MX5, BMW 2 series, Mini Clubman and Countryman were the only smaller cars to appear.
Many of the used premium cars coming up at auction have become more desirable in the past few weeks as semiconductor shortages continue to impact on supplies of new cars, says Aston Barclay.
In this buoyant market, vendors are increasingly looking to their suppliers to help them price their products to maximise their returns.
Martin Potter, Aston Barclay’s managing director – customer, said: ‘We built the desirability index in response to the industry wanting to understand the latest trends following the market reopening and us embracing our hybrid physical and digital strategy.
‘We have taken data from across all our physical and digital platforms to provide valuable insights to help both buyers and vendors.’