Used car sales increased by 7.8% in October against the same month last year. 

Dealerweb also reported an 18.1% increase in used vehicle finance and a 15.4% increase in GAP insurance sales. Paint protection insurance sales increased 7.4%.

Martin Hill (pictured), managing director of Dealerweb, said: “It is clear that used car operations continue to provide a valuable revenue opportunity for dealers across the UK.

“The data shows that all aspects of used car retail showed growth in October and we expect this to be a focus well into 2019.” 

Finance penetration for used vehicles increased from 44.2% in 2017 to 48.5% last month.

Hill said the growth of used car finance presents a valuable opportunity for dealers as it lags behind new vehicle levels. 

Overall used leads increased by 7% showing an increase in conversion by dealers on the same month last year.

Digital enquiries leapt by 15.6% while walk-ins dropped by 0.5%. 

Dealerweb supports dealer groups, and independent retailers maximise their sales performance through better lead management and smarter customer communication.

> Dealerweb will be at our annual expo Automotive Management Live on Thursday (November 8)