The used car market is set to close 2024 on a high note, with strong demand and stabilising prices, according to Auto Trader’s Retail Price Index.
Despite a -7.4% year-on-year dip, used car prices averaged £16,408 in October - marking the smallest annual decline since December 2023. Monthly prices rose 1%, showing market resilience even as they remain slightly below pre-pandemic averages of 1.9%.
Demand surged 9.9% year-on-year on Auto Trader’s platform, while supply fell -5.6%, driving cars to sell faster, averaging 29 days on the forecourt - three days quicker than last year.
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The UK's leading event for motor retailers - Wednesday, November 13.
Automotive Management Live 2024 welcomes motor retail managers from across the UK to discover business improvements, to understand best practice and to network with fellow dealers and suppliers.
Topics this year will include agency business models, the brands now entering the UK new car market, used car stock management and more. It's free to attend, but you'll need to register.
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Aimee Turner
Deputy editor
AM deputy editor Aimée Turner has been a specialist B2B editor and journalist covering the international transportation sector for more than 20 years.
She has specialised in the significant safety, regulatory, and environmental issues that impact advanced technology businesses in the pursuit of more efficient, safer and sustainable transportation modes.
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