- Car supermarkets days in stock increase 14.8% to 31 days
- Franchised dealers see a four day reduction in days to sell
- EVs average 35 days to sell, their lowest rate for the year to date
22 August 2019 Car supermarkets took longer to sell used cars in July than they did 12 months ago with sites holding less stock, according to the latest Market View from Motors.co.uk.
Average days in stock for car supermarkets increased by 14.8% in July to 31 days, while stock levels decreased by 4.8% to 674 vehicles.
Supermarkets continued to sell used cars faster than other retailers, although franchised dealers saw days in stock fall from 44 to 40 days year-on-year. Independents remained unchanged at 41 days.
Over the course of July franchised dealers increased average stocking levels marginally year-on-year from 60 to 62 cars. Similarly independent retailers increased stocking levels from 43 to 46.
“Car supermarkets had a challenging July with lower stock levels resulting in cars spending an average of four days longer on forecourts,” said Dermot Kelleher, Motors.co.uk’s head of marketing and business intelligence.
“Their reduced stocking levels could be reflecting just how competitive it is for retailers to source ready to retail cars at a time when used margins are tight across the board.
“Whilst used car sales appear to be holding up, despite market uncertainty, we are aware that many dealers are having to work harder to deliver similar year-on-year levels of sales to counter challenges in consumer demand.”
Once again electric vehicles (EVs) were the fastest selling used cars averaging just 35 days in stock, down 45.7% on the 51 days they averaged in June 2018. EV days to sale have reduced every month since April when they averaged 41 days.
Petrol cars averaged 38 days in stock, the same as last year, while diesels improved slightly dropping from 40 to 39 days. Hybrid cars averaged 42 days, compared with 41 days last year.
The fastest selling used car in July was the Vauxhall Astra, averaging 23 days in stock, followed by the Mercedes-Benz GLA and Hyundai Tucson which both took 25 days.
You can see the full August Market View report from Motors.co.uk here.