In the ever-evolving landscape of the automotive industry, the dynamics of the used car market often take center stage. September brings us noteworthy statistics from eBay Motors Group’s Market View report, offering insights into used car prices and stock levels. Let’s embark on this journey through the world of pre-owned vehicles.
The Price Dip: Understanding the Numbers
According to eBay Motors Group, the ninth month of the year witnessed a subtle but noticeable shift in used car prices. The average price of a used car dropped to £17,536, marking a 1.1% decrease (£203) compared to August. This dip represents the fifth consecutive monthly drop, following a peak of £18,903 in January.
What’s driving this decline? It’s largely attributed to falling prices of used electric vehicles (EVs), which currently sit at 15% lower than the previous year. However, there’s no need for alarm among dealers just yet. Overall values remain six percent higher than at this point last year.
Steady Stock Levels: A Dealer’s Comfort
Amidst fluctuating prices, stability reigns in the realm of stock levels. Throughout September, the average number of units in stock hovered around 47, only one unit less than in August. Franchised dealers experienced a minor month-on-month decline at 53 units, while independents maintained their stock at 36.
Car supermarkets saw a slight decrease, dropping from 331 to 303 units, marking the second consecutive monthly fall. Days to sell remained relatively steady at 35, compared to 36 in August. This trend has persisted since May, outpacing the year-on-year figure of 38.
Digging deeper, franchised dealers celebrated their fastest month-on-month improvement, reducing the days to sell from 32 to 29, a notable achievement for this year. Car supermarkets maintained their stability at 28 days, while independents increased slightly from 46 to 49 days.
Insights from the Expert
Lucy Tugby, Marketing Director of eBay Motors Group, offered insights into these findings. She highlighted the stability of September in the used car market, with consistent trends in stock levels, demand, and prices. Tugby noted that while franchised dealers welcomed part-exchange volumes due to the 73 plate change, many of these vehicles are still being processed for sale in the upcoming weeks.
The shortage of stock remains a shared challenge for all dealers, and car supermarkets have notably reduced their volumes, indicating a cautious approach to replenishing inventories built up over the summer. Independents, on the other hand, continue to navigate the overall stock shortage by selecting vehicles tailored to buyer preferences.
ScrapMyCar.net: A Sustainable Approach to End-of-Life Vehicles
As we explore the intricacies of the used car market, it’s essential to acknowledge the role of responsible vehicle disposal. ScrapMyCar.net is committed to sustainable end-of-life vehicle management, aligning with broader industry goals for eco-friendly recycling and disposal. Even in a market where vehicles may experience price fluctuations, our dedication to sustainability ensures that every end-of-life vehicle finds an environmentally responsible path.
In conclusion, the used car market’s fluctuations offer both challenges and opportunities for dealers and buyers alike. While prices may dip and stock levels fluctuate, responsible vehicle disposal remains a constant commitment. With scrap my car, you can be part of a sustainable automotive ecosystem, contributing to a greener future even when navigating market uncertainties.