Wednesday, June 19

Dealers stock more used cars but sell slower in May

UK dealers stocked 15% more used vehicles in May than 12 months ago, according to the latest Market View from Motors.co.uk.

Dealers’ average stock levels rose from 60 to 69 cars.

However, cars took two days longer to sell in May than 12 months ago increasing from 38 to 40 days. May also marked a two day month-on-month increase on April’s average of 38 days.

Franchised dealers carried more stock than their independent counterparts, averaging 65 cars per site compared with 51 cars on non-franchised sites.

Year-on-year stock levels also increased for both with independents finding forecourt space for an additional eight cars, compared with four more on franchised sites.

The fastest selling used cars in May were EVs, averaging 37 days to sell, compared with 47 days in May 2018, followed by petrol (38 days), hybrids (39 days) and diesel (41 days).

Motors.co.uk reports that demand for used diesel cars continued to hold up in May.

Diesels accounted for 45.5% of online views, compared with 47.1% 12 months ago, while petrol rose slightly year on year from 51.6% to 52.6%.

The fuel choice accounted for 47.1% of dealer stock, down from 50.2% a year ago, while petrol increased from 48.5% to 51.3%.

Dermot Kelleher, Motors.co.uk’s head of marketing and business intelligence, said: “Our Market View shows how franchised and independent dealers worked hard in May to source desirable stock.

“We know many businesses are extending company car replacement cycles until they know how the WLTP emission rules will impact the benefit-in-kind tax regime and this continues to put pressure on supply.

“We expect competition for ready to retail stock to remain fierce over the coming months.”

The fastest selling used car in May was the Vauxhall Vectra, averaging 24 days on dealer forecourts, followed by the Vauxhall Antara and Hyundai Tucson both taking 28 days and the Suzuki Alto and Volvo V60 both on 29 days.