CM Insider
Online car sales demand soars to 27.5% year-on-year growth
Whether it’s down to people looking to buy a car to avoid using public transport or a bit of extra spending money in people’s pockets due to fewer activities at the moment, September has seen six months of consecutive growth for used car prices.
Based on price analysis of around 900,000 vehicles, Auto Trader’s Retail Price Index has recorded the largest ever price increase on its marketplace for the second month running.
Last month, the average retail price of a used car was £13,829, with SUVs in the most demand. Vehicles aged 10-15 years old increased demand by 13.3% YoY, against a -15.7% fall in supply. By contrast, vehicles aged up to one year were the only price band to record a negative YoY rate, proving that customers are looking for value in a tried and tested model without taking as much of a depreciation hit.
“Used car prices offer an accurate barometer of market health,” says director of data and insight, Richard Walker. “As we enter Q4, it’s reassuring that whilst some commentators predicted used car prices would be in steep decline by September, they’re not only stable,
