1:05 pm, October 22, 2021
Stock turn of used battery-electric vehicles in September was a third higher than in August – and a massive 87 per cent up on September 2020.
That’s according to automotive business intelligence expert Indicata in its latest Market Watch insights report and was a tipping point said its group sales director.
The levels for BEVs were at 9.0 – comparable with diesel at 10.2, which Indicata said suggested the market was gradually starting to embrace alternative powertrains.
Meanwhile, online business used car sales rose by 0.8 per cent last month versus August, while nine months into 2021, sales were 20.8 per cent above the same period last year.
They were also 3.9 per cent above the same period in 2019, which Indicata said was the most recent ‘normal’ trading year before Covid-19.
A rise in sales led to stock levels falling by 9.4 per cent year on year and were 16.5 per cent lower when compared with September 2019.
This in turn had led to what Indicata called ‘severe price inflation’, with used car prices 27.5 per cent higher than they were five months ago.
Tactical manufacturer registration campaigns were also in evidence for the first time, said Indicata, with a seven per cent monthly and 18 per cent year-on-year increase in car sales at under a year old.
The aim was to feed cars into a sector that’s been short of stock for the past two years. That helped increase stock levels in October by 2.3 per cent above September levels.
The top selling used cars in the UK during September were the Ford Fiesta, VW Golf and Vauxhall Corsa.
As of the end of the month, there were 40.9, 38.6 and 36.9 days respectively of stock availabilty in the market of the trio, reinforcing the current shortage, said Indicata.
Jon Mitchell, Indicata UK’s group sales director, said: ‘September was a tipping point for BEVs in that stocking days got closer than ever before to ICE cars, which suggests the market is warming to the zero-emission proposition.
‘It will be interesting to see how this trend moves in future months of the report.’
He added: ‘Used prices show no sign of slowing down as demand exceeds supply. Dealer stocks are still under pressure, which suggests prices will continue to rise.
‘There are around six weeks’ worth of stock in the market of the three top selling cars, which also reinforces how short the market is of cars.
‘The used market will be working under these pressures for many more months to come.’
