While the Coronavirus pandemic continues to impact Europe’s used car market our Market Watch report provides dealers, OEMs and vehicle asset owners with valuable insights on how individual countries are being affected.
February’s markets continued to be impacted by various degrees but the big winner in every country is online selling of used cars. Online sales have become a key part of selling used cars through the crisis and going forward there is little evidence to support a full return to pre-crisis operating models.
Used car sales are down year-on-year
Overall February used car sales volumes reduced by 0.6% compared to January 2021 and year-on-year February 2021 used car sales were down 5.2% and 8.1% down year-to-date.
Here are some more highlights from our latest report:
- Typical ex-fleet vehicles aged 3-5-years old are faring better than older used cars
- Turkish market is showing the strains of a market returning to normality
- Poland sees some tactical sales activity to try to fill supply constraints
- Only France and Austria are showing tactical sales activity
- Used petrol (-9%) and diesel cars (-11%) saw sharp falls in used car sales YoY but there are supply constraints in some markets
- YoY used car sales increase for BEVs (+131%) and hybrids (+85%) as alternative powertrains become increasingly popular. BEV sales were up 7% month-on-month and hybrids up 9%
- Total used car stock levels going into March 2021 are 3.2% lower than January but 6.2% higher than March 2020, and 12.3% above the same month in 2019
- Stock turn for BEVs increases by 7% year-on-year as other powertrains sees a small fall
- ICE vehicles (diesel 6.0x, petrol 5.3x) remain the fastest selling used cars
Click here to get back to the March News