Electric MG4 proves most popular used car
The electric MG4 is the fastest-selling used car on the Auto Trader platform so far in April.
It is finding a buyer in just 14 days, compared to the market average of 27 days. Also popular are the Hyundai i10 and MG HS, which are both taking just 15 days to sell.
Further analysis of the data found intense competition for vehicles in the three to five-year category, with half of the 10 fastest-selling models in this age group, while demand is also strong for models aged five to 10-years old.
Volume brands remain the most popular among budget-conscious buyers, with average sales times of 25 days compared to 27 days for premium models.
Not surprisingly, diesel vehicles are proving even harder to shift as prices at the pumps continue to rise. The 10-to-15-year-old Mercedes-Benz C Class is selling in an average of 48 days, with the Land Rover Discovery and BMX X5 finding buyers in 38 and 35 days respectively.
Market stability
Marc Palmer, head of strategy and insights at Autotrader, said: “Against a backdrop of remarkable year-on-year market stability, what really stands out this month is the incredibly narrow window of sale. The gap between our fastest cars and the bulk of our slowest cars is just a matter of weeks, proving the entire market is operating at a highly accelerated pace.
“Within this, the three-to-five-year sourcing squeeze is more apparent than ever, driving immense demand for middle-aged stock and affordable, cheap-to-insure hatchbacks from volume brands.
“We are also seeing a maturing EV market where buyers snap up newer tech like the MG4 while passing on older or overpriced models. When you factor in the visible impact of £2-a-litre fuel on older premium diesels, it’s clear that running costs and efficiency are dictating the speed of the forecourt this spring.”
