European used car sales increase beyond pre Covid-19 lockdown levels says INDICATA data
INDICATA’s latest insights into the European used car industry show that across 13 countries sales are more than 10% higher in early June than they were prior to the Covid-19 pandemic starting in January and early February.
Even with countries such as the UK only seeing dealers open for business on 1 June the European markets have bounced back very fast.
Petrol, hybrids and electric cars are being favoured ahead of diesels in the majority of countries, while sports cars are in high demand as consumers decide to have some motoring fun as they exit their lockdown restrictions. Older cars between six and nine years of age are also very popular.
However, dealers are being very cautious at the rate they are replacing their sold stock and INDICATA data shows that currently European dealers are short of 340,000 used cars on their forecourts.
That should mean demand and prices remain strong over the coming months as dealers are forced to start to buy used cars again in the wholesale market.
To download a free copy of the 33-page INDICATA Market Watch 5 white paper, which provides insights into 13 countries, go to www.indicata.com/corona.
Daily used cars sold across 13 countries – January – June
Used car shortfall across 13 countries June v April – 340K units
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