INDICATA report shows 2021 used car sales have risen by 22.1% as stock levels fall
Written by Autorola in category Autorola Group News
May 26, 2021
European used car sales continued to make a strong come back with an increase of 22.1% to the end of April year-to date according to the latest INDICATA Market Watch insights report.
That represents a 7.2% increase above the same month in April 2019, pre-Covid and overall, the used car markets in the 13-country report are showing clear signs of stability and consistent growth.
Stock levels are falling
Dealer stock levels are suffering as sales continue to grow with countries like Turkey and the UK down by 11.2% and 10.0% respectively moving from April into May. Portugal, Poland, and Denmark also suffered a fall in stock while only France (+2.9%) and Sweden (+2.5%) experienced a rise in stock levels during this period.
There remains a shortage of sub-12-month-old cars as ex-rental and dealer demonstrator stock is restricted, and after a short spate of tactical registrations by manufacturers during March these fell back again in April. Stock levels in this sector of the market will also rely on how badly new car supply is impacted by the current semiconductor problem.
Opel/Vauxhall Mokka fastest-selling used car
The three-to-five-year-old sector is where the biggest consumer demand is currently and stock turn is at its best, with the Opel/Vauxhall Mokka proving to be the fastest-selling used car in Europe with a stock turn of 17.6. The VW Golf and Renault Clio meanwhile took the honours for the best-selling used cars in April.
Diesel remains the fastest-selling used car with a stock turn of 6.7x or 54.5 days although sales saw a fall of -6.0% from March. Battery Electric Vehicles (BEVs) experienced sales growth of 2.0% while stock turn was at a low of 3.7x which shows consumers are still coming to terms with paying a high price differential for zero emissions over equivalent models with a petrol or diesel engine.
Used market is settling down
“The used car market seems to be settling down just as we get news of the semiconductor shortage which is challenging new car supply,” explained Andy Shields, INDICATA’s global business unit director.
“Diesel continues to be the fastest-selling fuel type while sales of EVs are rising they are also suffering from the slowest stock turn rates. Price differentials between EVs and equivalent petrol and diesel models remain a constant challenge across many countries which is impacting on stock turn,” he added.
For a free download of the 20-page 13-country report go to www.indicata.com/corona
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