Used car sales surge £10m at Dealer Auction
Dealer Auction has reported a sharp increase in used car sales volumes and values during March.
Its latest Retail Margin Monitor for March revealed that the number of vehicles added to the platform jumped by 20% during the month, resulting in nearly 80,000 bids and a rise in total retail value from £42m £52.6m.
In terms of models, the Citroën C3 topped the chart in the sub-£10,000 retail bracket for the first time. It was joined on the list by the Volkswagen Tiguan, the Peugeot 3008, Ford Kuga, Nissan Qashqai, Kia Sportage, Honda Civic and Jaguar XF saloon.
At brand level, Land Rover led the way in the same price bracket, followed by BMW and Mercedes-Benz.
Buyer demand
Dealer Auction marketplace director Kieran TeeBoon said: “February was characterised by a flight to safety in reliable favourites, while in March, we saw different car types, fuel types and brands appear in the top 10.
“As well as stock variety, dealers are reaping the benefits of competitive pricing. Stock is flying; the ‘days to sell’ metric for vehicles sold via natural auction was 2.7 days in March.
“It’s encouraging to see buyer demand increasing, especially amid the January caution of this year’s forecast drop in five- and six-year-old trade vehicles. It’s certainly been a strong start to the year.”
