The Ford Fiesta was the UK’s best-selling used automobile and the Toyota Prius was the second fastest-selling used automobile in September in response to INDICATA’s newest Market Watch report.
Each vehicles have now completed manufacturing with no alternative deliberate for both mannequin which suggests costs will proceed to rise towards a backdrop of sturdy demand and falling provide.
The used Fiesta has been an iconic household and younger driver’s automobile because it was launched in 1976 whereas the self-charging Prius has turn out to be a agency favorite with non-public taxi firms.
“The Fiesta and Prius had been each in our high and fastest-selling tables in September and have been for some months. With no direct replacements deliberate it is going to be fascinating to see which fashions take over the mantle.
“Nonetheless, the Ford Puma has quietly turn out to be the best-selling new automobile in 2023 12 months thus far which is already translating into sturdy used demand,” defined Jon Mitchell, INDICATA’s group gross sales director.
Tesla’s Mannequin Y was September’s fastest-selling used automobile whereas the VW Golf and Vauxhall Corsa had been shut on the Fiesta’s heels because the UK’s top-selling used automobile.
5 out of the highest six vehicles in each INDICATA tables are smaller used vehicles which reinforces that larger ticket used vehicles are nonetheless slower to promote within the present market as customers transfer into winter calculating what obtainable funds, they need to exchange their present automobile.
Costs continued to fall in September by 1.87% and are 11.3% decrease than January 2022. That is the largest fall of any nation in Europe, and an indication that the used market is slowly getting itself again to a extra inexpensive degree.
Used EVs are beginning to present indicators of worth stability helped by used EV costs falling by 38% over the previous 12 months. This has helped stimulate gross sales and contribute to bringing down Market Days’ Provide (MDS) to an analogous degree to petrol and diesel.
“It’s nonetheless early days for used EVs however there are extra constant indicators of rising gross sales and falling inventory ranges. Inventory ranges of used EVs are actually extra into line with ICE vehicles now which have to be a optimistic signal. They’re now not having to play catch up which is vital now used automobile volumes are rising as new automobile manufacturing improves,” stated Mitchell.
