Q2. The quarter that brought us Northern Lights, a new Taylor Swift album and the first tease of summer (actually, perhaps not that one). But what did it mean to the used car market? Let’s dive into our data and see what it tells us.
Turn it up
Vehicles continued to flow through our platform in huge volumes in Q2 – we saw even more than we did in Q1, and at the time, we said that was busy. This surge was partly down to the market, but also thanks to our continued growth (hello new customers!). It also triggered 13% more email alerts. The average sold price dipped vs Q1 despite stock being of comparable age and mileage, but their total retail value soared. Proof, if it was ever needed, that the market continues to test even the most seasoned trader.
Money matters
We helped dealers find and buy almost £130 million worth of cars in Q2. That’s 28% more than in Q1. With some 600 auctions ending daily and bids flowing in 24/7 on everything from the humblest runaround to a £100,000 Bentley, Dealer Auction once again proved itself to be alive with activity. So far this year, we’ve helped our trade sellers generate almost £6 million in estimated trade profit. The numbers show choice, convenience and confidence continue to be a winning formula.
Plugged in
We may be starting from a low baseline, but the volume of EVs selling on Dealer Auction has grown 60% year-on-year. This number’s only going one way. If you’re serious about EV, speak to us about our exclusive sales of Novuna EV stock and keep an eye on our new EV Performance Monitor for insights on this burgeoning segment. EVs may be green but the top selling colours are still a monochrome image. We can’t wait for the day some colour returns to the market. Note too our average buyer fee this quarter: just £124.
Caffeine boost
The humble Vauxhall Mokka is a dark horse of the used market and tops our CAP clean performance league table this quarter. As they sell, stock what sells, not what you want yourself. Mazda’s CX-5 has been a consistent performer in our monthly Retail Margin Monitor too for good reason: it’s a brilliant performer at an appealing price point. And for regular readers, it comes as no surprise to find two JLR models in this quarter’s retail margin top five: buyers love them and are prepared to pay a premium.
Opportunities behind every click
Let’s not mention ‘new normal’ (oops, sorry, we did) but let’s be honest, that’s what we’re now seeing. The used market continues to ebb and flow as demand and stock availability fluctuates but this quarter’s dive into the data shows once more there’s opportunities aplenty for buyers and sellers. With auctions ending every few minutes, low buyer fees and exceptional stock performance Dealer Auction is here to help you win.
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