4:00 pm, July 22, 2021
Used car sales went up by 17.1 per cent in June, according to the latest report from Indicata UK.
No figures were given, but the automotive business intelligence outfit for the second-hand-car sector said the year-on-year increase was in spite of June 2020 proving to be a major month for dealers as they came out of a two-month industry-wide lockdown that severely restricted sales.
The rise contributed to a 3.1 per cent drop in dealer stock from June into early July, it said, fuelling a 6.9 per cent price increase.
Analysing stock turn by fuel type saw sales of internal combustion engine (ICE) cars 13 per cent higher than in 2020.
Meanwhile, battery-electric vehicle sales went up by 45 per cent and hybrids by 92 per cent versus June 2020.
Jon Mitchell, Indicata UK’s group sales director, said: ‘Dealers sold used cars quickly in June and then couldn’t replace them fast enough to keep up with demand.
‘Prices continued to rise so dealers had to keep a close eye on forecourt prices against market prices for fear of selling cars too cheaply.
‘We have continued to help dealers revalue used cars on a daily basis during June, such was the pace of the market.
‘Moving into July, there has been no sign of a fall in demand or increase in used car supply, so prices will remain high for the foreseeable future.’
