The used car market has turned on its head since Christmas with dealers focussing on sub-£15,000 stock that will sell quickly in this stock starved market.
This follows a period in December and January where stock costing more than £20,000 proved to be taking longer to sell for retailers.
This change in buying strategy has been reflected in Aston Barclay’s February used car desirability index, which 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.
The February index 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 in 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,” he added.
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.
