Auto Trader Fastest Selling Index | July 2021
Volkswagen Touareg takes the top spot as the UK’s fastest selling used car as average days to turn tumbles
The 2016 Volkswagen Touareg (diesel automatic) has been revealed as the UK’s current (as of 15th July) fastest selling used car taking an average of just 22 days to leave forecourts.
According to the latest data from Auto Trader’s Fastest Selling Index, which tracks the potential speed at which vehicles will sell based on live supply and demand in the market, the German SUV, which won the Best Car for Towing award at this year’s Auto Trader New Car Awards is in similar company. In total eight 4x4s and crossovers made it on to the national top 10 list of fastest sellers.
SUVs are currently the most in demand body type on Auto Trader. Based on the volume of searches and advert views, demand levels have increased 10% year-on-year (as of 15th July 2021), whilst levels of supply have dropped -8.7%. This imbalance of supply and demand has not only given SUVs a very strong market health[1], a 20.5% increase year-on-year, but also helped drive used prices up significantly. Last week, the average price of a used SUV was £22,288, which is a year-on-year increase of 13.1%.
Commenting on the Index, Auto Trader’s director of commercial products, Karolina Edwards-Smajda, said:
We’ve seen already very strong levels of buyer demand accelerate following the reopening of physical forecourts in April, but it looks as though it’s been given an extra boost in anticipation of the easing of most COVID-19 restrictions this week. This is having a significant influence on the speed of sale and used car prices, as well as the overall market health. It is still crucial however, that retailers keep abreast of the micro and macro market conditions to inform their pricing and sourcing strategies, and ultimately, to ensure they are making as much profit from their forecourts as possible.
In a further sign of ongoing strength in demand, Auto Trader’s market analysis has revealed that the overall national average days to sell has seen a dramatic decrease since the start of the year. The data shows that it currently takes an average of just 23 days for used vehicles to turn on UK forecourts, down from 43 days at the start of the year and representing a decrease of -47%.
Commenting on the Touareg taking the top spot, Barny Francis, Volkswagen UK’s National Used Car Manager, said: “As our flagship SUV, the Touareg’s appeal is apparent. Every generation has combined luxury, quality, comfort and the latest technology to create a compelling packaging. The latest version, when specified as the striking-looking Black Edition, has proved a big hit with new car buyers, with features such as LED matrix headlights, air suspension, Digital Cockpit and a panoramic roof all included as standard. For used buyers this makes it so much more straightforward to find a car with all the equipment they need.
“Buyers purchasing a vehicle from our Volkswagen Approved Used scheme will also benefit from two years’ warranty cover, two years’ MOT, two years’ roadside assistance on all Approved Used cars purchased, and even two services included if they finance the vehicle through a Volkswagen Personal Contract Plan, which is an industry-leading offering. But wherever customers purchase a used Touareg from they are getting all the safety, convenience and dependability people expect from a Volkswagen SUV and we are delighted to see such a high demand for the model.”
Current fastest selling used cars (by days to turn) – as of 15th July 2021:
[1] Auto Trader’s Market Health metric is used to determine strength based on supply and demand levels in the market
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