INDICATA reveals speed at which European dealers sold used cars in 2019
INDICATA has released its used car data insights which reveal how quickly dealers were selling used cars during 2019, across each of Europe’s big five markets, plus Belgium.
The INDICATA market analysis analysed 12.78m petrol and diesel used cars sold by European dealers in 2019, with the Spanish market witnessing the most severe fluctuations in average days to sell (ADTS) for both petrol and diesel used cars.
Spain was a volatile used market in 2019
In Spain, January saw the highest ADTS for petrol and diesel at 95 and 102 days respectively. In June the petrol ADTS reduced to a 12-month low of just 60 days, while November was the best month for diesels at 68 days. That accounts for a major swing of 35 and 34 days respectively which shows the volatility of the 2019 used market for Spanish dealers.
Germany and Italy reinforced the tough time some countries are experiencing with used diesels. ADTS figures stayed above 70 and 77 days in Germany and Italy respectively during 2019, which is why some dealers – with the help of INDICATA market pricing data – are exporting used cars to reduce stocking days and to help identify fast-selling replacement stock to buy.
INDICATA gives dealers a region, country and Europe-wide used car insight
“The power of INDICATA as a vehicle pricing tool is that it can give vendors a region, country and Europe-wide overview of vehicle demand and prices.
“It’s all about helping dealers find the right buyer for their vehicles. INDICATA can help change their mindset and treat Europe as one single marketplace for selling as well as buying the right used stock,” explained Andy Shields, INDICATA’s global business director.
UK demand for used diesels grows while new car sales fall
At the other end of the scale the UK reported an annual ADTS low for diesels of just 48 days in both April and October, with used demand consistently strong despite diesel new car sales falling in the market by a record 21.8% during 2019.
In some countries a fall in diesel demand has been balanced by consumers buying more used petrol cars. Across 2019 demand for used petrols was strongest in France with an ADTS low of just 42 days in April. Even its highest ADTS month in December rose to just 55 days, while the UK also reported strong consumer demand in April with an ADTS low of 46 days.
INDICATA is helping dealers manage used car stocking challenges
“The speed at which used diesels have fallen out of favour for legislative and environmental reasons continues to challenge European dealers. It will take a few more years for the demand and supply of used cars to match the needs of consumers in individual countries. In the meantime, INDICATA’s powerful pricing data insights can help dealers manage these challenges,” said Shields.