Used dealers focus on value models in February, according to Aston Barclay

Used car dealers are focusing on sub-£15,000 models from mainstream brands this month, following a period of high demand for premium-badged cars.

This follows a period in December and January where stock costing more than £20,000 proved to be taking longer to sell for retailers, according to Aston Barclay.

The remarketing firm’s February used car desirability index sees the VW Polo head the list closely followed by the Suzuki Alto and VW Sharan.

Older models like the Mercedes M Class and Skoda Yeti also appear in February’s index in a wholesale market where used prices remain at record levels.

This contrasts with the last few months of 2021 where it was full of higher value premium brand SUVs and saloons. Models like the Audi Q5, Range Rover and Mercedes S Class still appear in the February index but not as high up the pecking order.

“Part exchange sales have been extremely strong for the first six weeks of 2022 with retailers looking more to the value end of the market where cars will sell quickly,” said Martin Potter, Aston Barclay’s MD – Customer.

“Many retailers are now investing wisely buying two value cars rather than one expensive one and turning their stock faster. It’s costly to have higher value used cars in stock for any length of time hence the change in approach.”

Aston Barclay’s monthly index takes into consideration three key metrics: web views prior to sale, number of physical and online bids per sale, and the sale price achieved as a percentage of CAP average.

The used car market delivered annual sales up 11.5% year-on-year in 2021, accroding to the Society of Motor Manufacturers and Traders. the performance was just 5.5% down on the pre-pandemic five-year average despite the ongoing supply issues.

Auto Trader found that more than one-in-five nearly new used cars advertised on its platform were priced above their brand-new equivalents, after a further 31.3% year-on-year rise in values during January.