It’s been another unprecedented year for the car industry, and dealers have been harnessing the power of digital to stay ahead of the curve. But how have the events of 2021 affected the choice of used car stock? Here’s what’s hot and what’s not!
As we delved into the numbers for 2021, we were especially intrigued by what our dealers are searching for – particularly with 96% admitting they’ve changing their stock profile strategy as a result of current supply constraints.
It’s clear that hatchbacks are ruling the roost – taking up eight of the top 10 slots. Compact cars have always been an attractive choice, due to their versatility; however, there could be several factors driving their immense popularity this year – including the flight from public transport and a backlog of young learner drivers.
Our top 10 also mirrors retail data – in Q2 2021, the top 5 used best-sellers were the Fiesta, Corsa, Focus, Golf and Astra. Interestingly, it’s been a similar picture for new cars too – the Corsa, Golf, Polo, Mercedes-Benz A-Class and Fiesta are the big hitters so far this year!
Two luxury brands made our ‘most wanted’ list – the BMW 3 Series and Mercedes-Benz C-Class – perhaps indicating that dealers have been expecting visits from consumers looking for a post-pandemic treat. Have you been seeing this trend amongst buyers?
Top of our ‘most searched for’ list is the Ford Fiesta, which is known for being a fast mover from the forecourt (and often topping the charts for the UK’s best-seller). But did this interest from dealers translate to bids?
It would appear so! After spending 2020 in the shadow of the Nissan Qashqai, the Ford Fiesta rules once more. In fact, the Qashqai is this year’s sixth bestseller and eighth most searched for model – again, suggesting that hatchbacks are the ones to watch going into 2022.
With competition high, used car dealers are having to use all their experience and knowledge, as well as the data that’s available to them. With this in mind, is it worth looking beyond the most searched for and best-seller lists?
Jumping on every opportunity
It’s certainly worth looking at different performance indicators. While hatchbacks are piquing dealers’ interest when searching for stock, other vehicle types are clocking up speedier sales. For example, the Qashqai might have lost its spot at the top of our best-sellers list, but SUVs are still contenders for your forecourt space – with seven entries in AutoTrader’s top 10 fastest selling used cars.
While the above stats might look like they contradict the popularity of hatchbacks in the wholesale sphere, they actually demonstrate how fast today’s market is moving, and therefore why accurate and real-time data is essential in staying ahead of the crowd!
Back up your instincts
Amidst the current stock delays, rising retail prices and intensified wholesale competition, savvy dealers are proving to be agile and adaptable in an ever-changing situation. The importance of real-time data cannot be rivalled – although knowing the ‘top 10’ searched for models is interesting, knowing what someone is looking for in your area right now is much more valuable.
Just because a model isn’t desirable in your area doesn’t mean it won’t be elsewhere! This also works the other way – a vehicle/brand might not be what you traditionally sell, but the data gives you the confidence you can sell it quickly and for a good profit.
We’re here to equip you with extra data and tools, so you never miss an opportunity. If you want to know more about how data can help you sell more cars, quicker and profitably, get in touch!