7:39 am, October 6, 2020
Used cars sold 10 days quicker in September compared to August as demand continued to push prices up further.
The asking prices for used cars advertised on the eBay Motors Group platforms rose 1.8 per cent to an average of £12,604 during the month.
The speed at which used cars on dealer forecourts sold dropped to an average of 47.2 – 10 days faster than August – but still behind the 41.5 day average recorded in September last year.
‘September’s a key month for the used sector with buyer activity stimulated by the plate-change, so it was encouraging to see dealers enjoying a much needed boost with cars being sold significantly faster than at any point since the lockdown,’ said Marc Robinson, head of sales at eBay Motors Group.
‘While the increase in advertised prices will help bottom lines, supply remains a challenge and we hope this will ease in Q4.’
The details were released in the advertising group’s Market View report which looks at key metrics across the used car market.
It also showed that incoming calls and email leads to dealerships continued a strong post-lockdown trend, up 15 per cent on levels recorded at the beginning of March.
The top five fastest selling cars were also revealed as:
Audi S3 – 31.5 days
Audi S5 – 31.7 days
Mercedes A Class – 31.8 days
Audi A1 – 32.2 days
Skoda Karoq – 32.2 days
Diesel cars remained popular with buyers – despite their fall in new car sales figures – selling marginally faster than petrol at 46.3 days compared to 46.6 days.
Alternatively fuelled vehicles took significantly longer to sell with electric vehicles averaging 59.8 days and hybrids averaging 71.2 days. Both sold a lot faster in the same period in 2019.
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