Car dealers’ used car stock levels were 9.4% down year-on-year last month and 16.5% down on September 2019, according to data published by Indicata.
The Motorway used car stocking portal has seen its vehicle sales grow 300% by value in Q3 after appreciating prices transformed the sector.
Aston Barclay has said the seasonality of the March and September-centric car retail market has been side-lined as supply shortages triggered 40% price rises in just nine months.
Autorola has reported a third consecutive quarterly rise in online used diesel prices as new car sales continue to fall.
Competition for used car stock continued to grow as used car retail values rose 21.4% in September to reach a new record high after 18 consecutive months of appreciation.
Record used car value increases in September have been hailed as a “black swan event” by Cap HPI, with head of valuations Derren Martin describing the seventh consecutive month of rising prices as “extraordinary”.
Used car values are likely to rise to “another new level that once didn’t seem possible” according to BCA chief operating officer Stuart Pearson.
Cashflow is quickly becoming king as larger car dealers and used car supermarkets pay well above market valuations to secure used car stock, according to Shoreham Vehicle Auctions (SVA) managing director Alex Wright.
Used car prices rose by 16.6% during the first eight months of 2021 as an imbalance between supply and demand dictates that customers will “clamour for whatever stock they can get their hands on”.
More than one-in-10 nearly new used cars are now more expensive than their brand new equivalents as limited supplies and soaring demand delivered an 18.6% year-on-year rise in values.
New research by Moneybarn has revealed the 'best' and 'worst' cities in the UK to purchase a used car.
Record used car prices are not deterring new car buyers from switching into a used alternative to avoid the lengthy lead times triggered by supply shortages, according to Auto Trader.
Used car sales surged by 19.4% last week as strengthening consumer confidence delivered strong online leads and “a consistent level of footfall at retailer showrooms”, according Cazana.
The average selling price of a used van has remained above £10,000 for the second consecutive month, at Manheim auctions.
Cox Automotive has warned car retailers to brace themselves for a tough September and Q4 as the new EU trade agreement, a logistics “wages war” and evolving consumer habits present further uncertainty.
Used car sales rose 351.4% to a near record 2.17 million sales during Q2 of 2021 as new vehicle supply shortages drove increasing volumes of motorists into pre-owned models.
Car buyers have been faced with a 14.1% increase in the price of the average car advertised on Auto Trader during July.
Used car buyers who paused their purchase to focus their attention on England’s route through the European football championships may have triggered a 26.8% boost to retail sales last week.
Strong levels of consumer demand in the market is continuing to drive used car price growth on Auto Trader, according to its latest data.
Cox Automotive has downgraded its 2021 new car registrations forecast by 2.48% amid expectations that vehicle supply issues will leave Q3 deliveries down 17.7% on the 10-year average.
