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 keeping with INDICATA’s newest Market Watch report.
Each automobiles have now completed manufacturing with no alternative deliberate for both mannequin which suggests costs will proceed to rise in opposition to 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 into a agency favorite with personal taxi firms.
“The Fiesta and Prius have been each in our high and fastest-selling tables in September and have been for some months. With no direct replacements deliberate will probably be fascinating to see which fashions take over the mantle.
“Nevertheless, the Ford Puma has quietly turn into the best-selling new automobile in 2023 yr up to now 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 have been shut on the Fiesta’s heels because the UK’s top-selling used automobile.
5 out of the highest six automobiles in each INDICATA tables are smaller used automobiles which reinforces that greater ticket used automobiles are nonetheless slower to promote within the present market as customers transfer into winter calculating what accessible funds, they have to change 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 the same 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 automobiles now which have to be a optimistic signal. They’re not having to play catch up which is essential now used automobile volumes are rising as new automobile manufacturing improves,” stated Mitchell.