Online B2C used car sales down 6.1% YTD
Online B2C used car sales in August were 11.8% down on July and 18.8% lower than in August 2021 as people’s focus switched to holidays instead of cars. Online B2C used car sales for the first eight months of this year are 6.1% lower than the same period last year and 5.9% down on 2019.
All powertrains saw sales fall month-on-month in August but compared to August 2021 online B2C used hybrid car sales increased by 6.8% with BEV sales almost flat with a marginal 0.3% increase. In contrast used petrol car sales fell 23.4% whilst used diesel car sales fell by over a quarter, down 25.3%.
Getting the right quality stock remains a challenge with online B2C used stock levels going into September 11.8% lower than at the start of the previous month and 18.8% down on the same month last year.
Whilst the rate of stock turn slowed in August compared to July the growth in demand for BEVs means its 4.7x turn rate is 11% higher than in August last year whilst used hybrid turn fell 7%, used petrol car turn dropped 14% and stock turn for diesel went down by 18%.
Our price index is based on a consistent pool of vehicles indexed against January 2021 and has been reset for the start of the new year which creates a typical uplift of around 2%-4%, followed normally by a lifecycle driven downward curve in average prices. With supply still constrained but healthy levels of demand average used car prices going into September are up a further 0.6 percentage points over the start of August and are now 8.7pp above the end of last year.
On the 24th of March INDICATA published its first White Paper “COVID-19 To what extent will the used car market be affected (and how to survive)?”. This document explored:
Early market trends - Initial impact of the virus and the social distancing measures implemented.
Market scenarios – A range of impacts based on infection rate development and historical market data.
Mitigation – Risk assessment by sector coupled with potential corrective actions.
We committed to keeping the market updated with live data, volume, and price, to keep abreast of the fast-moving environment.
As such we are pleased to announce “Indicata Market Watch”.
How do we produce our data?
Indicata analyses 9m Used Vehicle adverts across Europe every day. To ensure data integrity, our system goes through extensive data cleansing processes.
The Sales (deinstall data) in this report are based on advertisements of recognised automotive retailers of true used vehicles. As such, it does not include data related to private (P2P) advertisements.
Where an advert is removed from the internet, it is classified as a “Sale”.