• Car Dealer Plus
No Result
View All Result
  • Latest
  • Used Cars
  • Live
  • Forum
  • Power 2020
  • UCA 2020
  • UCA 2021
  • CDX
  • Knowledge
  • Suppliers Guide
  • About Us
  • Latest Issue
  • Top 100
  • CD Plus
  • Latest
  • Used Cars
  • Live
  • Forum
  • Power 2020
  • UCA 2020
  • UCA 2021
  • CDX
  • Knowledge
  • Suppliers Guide
  • About Us
  • Latest Issue
  • Top 100
  • CD Plus
No Result
View All Result

Used car pricing in the UK was the strongest in Europe in July as demand exceeded supply

James Batchelor by James Batchelor
August 19, 2020
0
Home News

Used car pricing in the UK was the strongest in Europe in July, new data has revealed.

Used car prices rose on average by 1.7 per cent helped by a 22 per cent shortfall in used stock in the market compared with April 1, Indicata’s latest report shows.

Sales fell by 1.8 per cent in July as a result of this stock shortage compared with a 3.7 per cent rise in June.

Consumer appetite for electric and hybrid cars continued, said the firm, with sales up 53.5 per cent and 51.2 per cent year-on-year respectively, while six-nine-year old used cars continue to be the most popular.

  • Investigation: What will happen to used car prices when furlough ends?

Prices of electric cars in July rose by £2,525 to £13,688 and hybrids by £1,461 to £16,156 compared with Q2, although supply was very limited.

In contrast to many other European markets, Indicata found luxury cars and SUVs are the UK’s strongest market segments experiencing a 11.5 per cent and 11 per cent increase year-on-year.

‘July was a very busy month with demand exceeding supply,’ said Indicata group sales director, Jon Mitchell.

‘There are signs from some of our vendor customers that supply is starting to increase coming into August. With the new plate change in September we should also see new part exchange stock coming into the market.

‘Despite that increase in supply prices look as though they will be strong during the summer, but we will have to wait to see how economic conditions will impact prices during the autumn.’

Last week, Auto Trader data given exclusively to Car Dealer showed the Peugeot 2008 was the used car that rose the most in price.

The average asking price in July for a Peugeot 2008, up to one year old and in Allure, petrol, manual trim was £15,368 – £2,550 or 19.9 per cent more than in June.

Used car prices are expected to take a turn downwards, though.

Car Dealer investigated what will happen to used car prices in the months ahead, particularly in October as the furlough scheme comes to an end, and experts agreed prices will soften.

Read more Used Car stories here

  • Got a beef with your car manufacturer? Love your suppliers? Tell us why in our Car Dealer Power survey here.
  • Get the latest news updates in our WhatsApp group. Broadcast only, headlines direct to your phone. Send us a message and ask to join here.
  • There’s a fresh new design and exclusive content for Car Dealer! Download issue 149 for free here.

 

Related Posts

Government plans to break Ecotricity charging monopoly at motorway services, finds Electrifying.com
News

Government plans to break Ecotricity charging monopoly at motorway services, finds Electrifying.com

March 8, 2021
LSH Auto rapid tests staff
News

LSH Auto rolls out rapid Covid testing for dealership employees

March 8, 2021
Peter Vardy Group Us4Women Uganda pic
News

Peter Vardy Group offers mentoring support for women in some of Uganda’s poorest areas

March 8, 2021
Motorline Volkswagen Horsham Sep 2020
News

Motorline is named Volkswagen’s top UK retailer group for 2020

March 8, 2021
Lindop Bros owner warns of showroom closure and job losses after bid for expansion is put on hold
News

Lindop Bros owner warns of showroom closure and job losses after bid for expansion is put on hold

March 8, 2021
Robert Forrester, left, and Kevyn Robinson with his award, Mar 2021
News

Kickboxing Kevyn is honoured for 40 years’ service with Bristol Street Motors

March 8, 2021

Want the latest news?

Sign up to Car Dealer's daily news email updates

Subscribe
How many car dealerships does each manufacturer have in the UK? Car Dealerships Locations List 2021 revealed
News

How many car dealerships does each manufacturer have in the UK? Car Dealerships Locations List 2021 revealed

February 24, 2021
Used Car Awards with Mike Brewer and James Baggott graphi
News

Who won what at the Used Car Awards 2020? Mike Brewer reveals our winning car dealers

February 11, 2021
Car Dealer issue 156 front cover and Used Car Awards
Online Magazine

Out now: Car Dealer issue 156 features our Used Car Awards, H.R. Owen CEO Ken Choo and lots more

February 23, 2021
Used Car Awards 2021 logo
Used Car Awards

Used Car Awards 2021 will be back in all their glory on November 29 hosted by Mike Brewer

March 8, 2021
Trophy Cars forecourt
News

Investigation: Meet the hyper-specialist car dealers making their money from weird and wonderful motors

February 11, 2021
Become a Car Dealer Plus member and get more out of this website including free legal advice
News

Become a Car Dealer Plus member and get more out of this website including free legal advice

January 15, 2021
Car Dealer Top 100 – The list in full of the most profitable car dealers in the UK
Car Dealer Top 100

Car Dealer Top 100 – The list in full of the most profitable car dealers in the UK

February 10, 2021
Bitcoin ATM terminal
News

Will car dealers in the UK accept Bitcoin for payment? Dealers speak out after Tesla plans to accept cryptocurrency 

February 18, 2021
  • Latest
  • Used Cars
  • Live
  • Forum
  • Power 2020
  • UCA 2020
  • UCA 2021
  • CDX
  • Knowledge
  • Suppliers Guide
  • About Us
  • Latest Issue
  • Top 100
  • CD Plus
Call us: 020 8125 3880

© 2020 Blackball Media

No Result
View All Result
  • Car Dealer Plus
  • Latest
  • Used Cars
  • Live
  • Forum
  • Power 2020
  • Used Car Awards 2020
  • Used Car Awards 2021
  • CDX
  • Knowledge
  • Suppliers Guide
  • About Us
  • Latest Issue
  • Top 100

© 2020 Blackball Media

Log In
Register
Register
Server 1