The October edition of Automotive Insights Report (AIR) with AutoGrab shows a decline in used car sales by 3.2% to 202,355, while listings have grown by 1% to 317,861 indicating a buyers’ market as used car supply continues to outpace demand. While petrol and diesel cars account for almost 95% of total sales, consumers are increasingly turning towards fuel efficient options with more variety and affordable options now available in the Australian market. Sales of conventional petrol and diesel vehicles have dropped by 4.5% and 2.3%, while PHEVs are still the top pick for buyers – experiencing a jump in sales by 27.1%. With the influx of a large number EVs into the market, used car sellers are struggling to move stock, reflected by the increase in the average time to sell a used EV, rising from 55 days in August to 67.3 days last month. #AIR #automotiveindustrry #usedcarsales Check out the full report: https://bit.ly/40W1jGy
Australian Automotive Dealer Association (AADA)’s Post
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The October Automotive Insights Report, created in partnership with the Australian Automotive Dealer Association (AADA), highlights key trends shaping Australia’s used car market. Sales fell 3.2% from September, with 202,355 vehicles sold, while listings increased, creating strong signs of a buyer’s market leading up to Christmas. In a market where strategic pricing and stock management are more crucial than ever, AutoGrab is here to equip dealers with the tools and insights needed to navigate these shifts and stay ahead. The market will always change and shift however, The operators will continue to operate!
The October edition of Automotive Insights Report (AIR) with AutoGrab shows a decline in used car sales by 3.2% to 202,355, while listings have grown by 1% to 317,861 indicating a buyers’ market as used car supply continues to outpace demand. While petrol and diesel cars account for almost 95% of total sales, consumers are increasingly turning towards fuel efficient options with more variety and affordable options now available in the Australian market. Sales of conventional petrol and diesel vehicles have dropped by 4.5% and 2.3%, while PHEVs are still the top pick for buyers – experiencing a jump in sales by 27.1%. With the influx of a large number EVs into the market, used car sellers are struggling to move stock, reflected by the increase in the average time to sell a used EV, rising from 55 days in August to 67.3 days last month. #AIR #automotiveindustrry #usedcarsales Check out the full report: https://bit.ly/40W1jGy
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Automotive Insights Report for July is now available.
The July Automotive Insights Report (AIR) with AutoGrab shows a tightening market for used cars with sales increasing by 11.6% to 214,588 and listings reducing by 5.8% to 285,133. Buyers are flocking to the used car market to take advantage of better supply and lower prices as they try to escape the rising cost-of-living pressures. Petrol and diesel cars accounted for 95% of used cars sold, with hybrid sales increasing by 12.3% this month. Meanwhile, the supply of EVs saw the most significant decline, down 16.1% even as demand increased by 12.2%. #AIR #automotiveindustry #usedcarsales Check out the full report: https://bit.ly/46MpRCs
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The July Automotive Insights Report (AIR) with AutoGrab shows a tightening market for used cars with sales increasing by 11.6% to 214,588 and listings reducing by 5.8% to 285,133. Buyers are flocking to the used car market to take advantage of better supply and lower prices as they try to escape the rising cost-of-living pressures. Petrol and diesel cars accounted for 95% of used cars sold, with hybrid sales increasing by 12.3% this month. Meanwhile, the supply of EVs saw the most significant decline, down 16.1% even as demand increased by 12.2%. #AIR #automotiveindustry #usedcarsales Check out the full report: https://bit.ly/46MpRCs
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UK Weekly Used Electric Car Market Data – 16th March 2024 Explore the latest UK used electric car market trends, dealer volumes, and top strategies for automotive success. https://lnkd.in/eiKqn7Nw Marketcheck
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Quick video explainer from me, using Cox Automotive Australia dealer used car data to explore how older and cheaper used cars are far more inflated in price today, relative to December 2019, than younger vehicles. The Price Index is volume-weighted and adjusted by original list price (MSRP) and shows that in real terms the cost of 8-10 year old hatchbacks and sedans are 58% up in 4.5 years, whereas those aged under 2 are up 10%. Fun fact: The average selling price of 8-10 year old used passenger cars (EGC) has increased from $11,988 in December 2019 to $20,896 today, almost doubling. That's obviously well, well above what CPI would dictate. The lesson? If you're battling and looking for an older and cheaper runabout, you'll get a better deal getting something newer. It may not be cheaper outright, but it'll be MUCH less inflated relative to pre-COVID. Have a watch, questions and comments below! Cox Automotive Inc. Manheim Australia Stephen Lester #Usedcars Jonathan Smoke Heath Stubbs Daniel Colina
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Offering dealerships a Forecourt Funding Solution designed to compliment your business, not control your business.
Richard comments on article "OEM tactical registrations could hit long-term used values, reports INDICATA" Saying: "Tactical registrations by car manufacturers impacted the used car market with sales of less than 12 month old used cars increasing by a massive 39.1% year on year in April per figures from INDICATA. Whilst this points to supply levels being close to pre-covid levels there are some concerns about the impact this will have on used car values moving forward if the trend continues. EV’s are likely to take the biggest hit, with dealers registering but not wholesaling these vehicles. This could see the value of used EV’s drop once these cars hit the market, which may well be the incentive for more people to take a chance on EV’s, who to date have been put off by the high retail prices of the vehicles." https://lnkd.in/dDadPHbh Call: 01858 907 123 Email: [email protected] Search: www.forecourtfunding.com Pledge Interest: https://lnkd.in/dyHdGjX6 #newsoftheday #fundingnews
OEM tactical registrations could hit long-term used values, reports INDICATA
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As used car prices continue to fall from their record high in recent times, dealers report that vehicles are spending an average of only 35 days on the forecourt 🚗 Data for March of this year also shows that vehicles priced between £10,000 and £19,999 sold the fastest, with buyers gravitating towards vehicles aged between 2 and 5 years old. Despite the increase of pressure to make the change to electric or hybrid vehicles, these only made up 13% of dealer stock in the same period. Petrol being the most popular, accounting for 49% of vehicles for sale. Follow us for more market insights ✅ #CMeAutomotive #MarketInsight #AutomotiveIndustry #ElectricVehicles #CarDealers #MarketingExperts
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Despite the ongoing challenges in the automotive industry, the used car market is projected to grow steadily throughout 2024. Factors such as a potential reduction in interest rates, gradual improvements in supply chains, and increased consumer demand for cost-effective vehicle options are expected to shape the market's trajectory. Dealers who stay informed and adapt to these changes will be well-positioned for success. Learn more about the future trends and how to prepare on our blog! https://lnkd.in/ezy4dfx2 . . . #MarketForecast #UsedCarSales #IndustryOutlook #UsedVehicles #MarketDemand #AutomotiveInsights #UsedCarMarket #AutomotiveIndustry #OTTOMOTONews #industryTrends
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▶ Autovista24 Monthly Market Update: Used car RVs forecast to fall further by end of 2024 - Residual values (RVs) are coming under constant pressure across Europe. - Demand for used passenger cars is failing to keep up with supply, particularly in #Austria, #Germany, #Italy and #Switzerland. This market dynamic is driving down outlooks of RVs when presented as a percentage of new-car list price (%RV). - In August’s report, Autovista Group editors expected year-on-year value declines come December 2024. - However, the extent of this fall is now more severe. Italy saw one of the largest adjustments, with the %RVs of three-year-old cars now expected to drop by 6.5%, instead of 5.8%. - The outlook in #Spain now sits at a 2.3% decline, rather than a 1.8% drop. - Austria and Switzerland saw only marginal adjustments in their RV expectations, while #France and the #UK held their forecasts. - #Germany is expected to see the greatest fall in %RVs, down by 8% at the end of the year. However, this was up compared to last month’s expected decline of 8.1% Read the full analysis https://lnkd.in/eEh273tc #Europe #usedcars #values #automotive #markets
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Automotive Retail Expert | Used Car Specialist | Technology Innovator in Automotive | Driven by Humility and Service
🚨 Used Car Supply Shrinking! 🚨 We’re seeing a significant reduction in used car supply, down 4% since January 2023, with about 800,000 fewer vehicles available. The average list price has dropped slightly, now at $28,859, which is still 36% higher than in January 2019! 😲 Despite these fluctuations, dealers didn’t raise prices; rather, it’s the increased demand for newer used cars (under 2 years old) that’s driving the slight uptick. The used car market is dynamic, and it’s essential to stay informed. #UsedCars #AutomotiveMarket #DealershipSuccess
