The Tesla Mannequin 3 was the fastest-selling used automobile in September, averaging simply 17 days on seller heaps, as per eBay Motors. Following the Mannequin 3 was the Audi e-Tron, which averaged 20 days, and the Ford Mustang, which averaged 21 days.
The typical variety of days it took to promote a used automobile was listed at 35 days, which is decrease than the 38 days from a yr in the past. Franchised sellers additionally noticed a month-over-month enchancment within the common variety of days to promote autos from 32 to 29 days, their quickest tempo to this point this yr.
As famous in a report from MotorTrader, used automobile costs continued to edge down in September, falling 1.1% to £17,536. Nonetheless, they remained 6% larger than a yr in the past. This marked the fifth consecutive month-to-month decline, with costs peaking in January 2023.
Lucy Tugby, advertising director of eBay Motors Group, issued a remark in regards to the matter.
“September proved to be a comparatively secure month for the used automobile market with constant month-on-month monitoring throughout inventory ranges, demand and costs. Whereas the 73 plate-change can have generated welcome part-exchange volumes for franchised sellers, our knowledge suggests many of those autos are nonetheless being processed and ready on the market over the approaching weeks.
“The scarcity of inventory stays a problem for all sellers with the dip in automobile grocery store volumes suggesting they aren’t shifting to replenish inventories that had been constructed up over the summer season interval. Whereas independents proceed to navigate their method by means of the general scarcity of inventory by cherry selecting autos they know will resonate with consumers,” Tugby stated.
Tesla’s electrical autos are proving common within the used automobile market. Again in August, automobile search and analysis firm iSeeCars.com analyzed over 228,000 new and used automobile gross sales from July 2023. Because it turned out, the Tesla Mannequin Y was the US’ fastest-selling used electrical automobile.
“Used automobile costs had been initially pushed up by a scarcity of latest automobile stock. Now there are many new automobiles on seller heaps, however shoppers aren’t speeding out to purchase them. The brand new automobile common time-to-sale is down by greater than 25%, at the same time as used automobiles are promoting 6.1% sooner. This exhibits consumers are persevering with to hunt worth within the used automobile market – regardless of a variety of latest automobile choices,” iSeeCars Government Analyst Karl Brauer stated.
Don’t hesitate to contact us with information ideas. Simply ship a message to [email protected] to offer us a heads up.