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12 April 24 Press releases

PEUGEOT PIPS COMPETITION TO THE POST AS 3008 REVEALED AS UK’S CURRENT FASTEST SELLING USED CAR

The speed in which used cars are selling is a good barometer of the underlying health of the used car market, and since the start of the year, we’ve seen them leave retailers’ forecourts at a record pace. We’ve also seen a significant uptick in the number of visits to our marketplace over the quarter, reaching an all-time record of 89.1 million in March. Combined, these metrics serve to highlight the ongoing strength of the used car market and the very robust levels of demand from consumers. Whilst our outlook for the rest of the year is confident, retailers do face an incredibly nuanced and complex market; as ever, the devil is in the detail, and I’d urge retailers to analyse the data on a granular level to navigate the market and identify the stock that provides the most profitable opportunities for their forecourt.

 

According to the latest data from Auto Trader, the Peugeot 3008 is currently the UK’s fastest-selling used car, taking an average of just 12 days to leave retailers’ forecourts. Such is the demand for the petrol-hybrid version of the French SUV, which was crowned Auto Trader’s New Car of the Year in 2019, it’s leaving forecourts two weeks faster than the current national average.

So far this month, it’s taking an average of 26 days for used cars to sell across the UK, which is one day faster than the same period last year, and just one day slower than March 2024, which at an average of 25 days, was the fastest pace ever recorded by Auto Trader. It highlights the ongoing consumer demand for used cars, which was also reflected in the record 89.1 million cross platform visits to Auto Trader in March. 

Underpinning the strong consumer appetite for hybrid vehicles specifically, the Peugeot is joined by a further five on this month’s list of fastest sellers, whilst across the retail market as whole, hybrid vehicles are now the fastest selling of any fuel type, currently taking just 24 days to sell. So far this month on Auto Trader, levels of consumer demand for hybrid models (based on advert views and searches) is up a whopping 55% year-on-year.

Used petrol cars are taking an average of 25 days to sell, followed by diesel at 28, and electric cars are currently taking around 29 days. However, highlighting the considerable nuance in the used car market, and the significant variances across different segments and cohorts, electric vehicles (EV) aged 3-5 are currently taking an average of just 24 days to sell, putting them on par with hybrids. More broadly, demand for used electric cars on Auto Trader continues to far outpace that of their internal combustion engine counterparts, with current levels up 59% YoY compared to a more conservative growth of 7.7% for petrol and a decline of -6.9% for diesel. Demand for EVs aged 3-5 years old is up a massive 133% YoY.

Looking at the data by age, those aged between 10-15 years old are currently taking the longest to sell, which at 32 days is more than a week slower than the fastest cohort: 3–5-year-old cars are leaving forecourts in just 24 days. Despite a positive increase in overall demand on Auto Trader, up 2.8% YoY, this more mature age group is recording a large increase in supply growth (11.2% YoY), second only to those nearly new vehicles (46.8% YoY).

According to the data, volume cars are currently taking the least amount of time to sell, leaving forecourts on average in 25 days, compared to the 28 days for premium brands.

Current fastest-selling used cars (all fuel types)

Rank

Make

Model

Body Type

Fuel Type

Age Cohort

(years)

Average days to sell

1

Peugeot

3008

SUV

Petrol Hybrid

up to 1 Year

12

2

Mercedes-Benz

GLC Class

Coupe

Diesel Hybrid

up to 1 Year

12.5

3

CUPRA

Formentor

SUV

Petrol

3 to 5 Years

13.5

4

Mercedes-Benz

CLA Class

Saloon

Petrol Hybrid

up to 1 Year

14

5

SEAT

Leon

Hatchback

Petrol Plug-in Hybrid

3 to 5 Years

14

6

Ford

Grand Tourneo Connect

MPV

Diesel

up to 1 Year

14.5

7

SEAT

Leon

Estate

Petrol Plug-in Hybrid

1 to 3 Years

14.5

8

Ford

Focus

Estate

Diesel

up to 1 Year

15

9

Volvo

XC60

SUV

Diesel

1 to 3 Years

15

10

Hyundai

TUCSON

SUV

Petrol Hybrid

3 to 5 Years

15.5

Current slowest-selling used cars (all fuel types)

Rank

Make

Model

Body Type

Fuel Band

Age Cohort

(years)

Average days to sell

1

Citroen

C5 X

Hatchback

Petrol Plug-in Hybrid

1 to 3 Years

139

2

Alfa Romeo

Spider

Convertible

Petrol

10 to 15 Years

133

3

DS AUTOMOBILES

DS 9

Saloon

Petrol Plug-in Hybrid

1 to 3 Years

132.5

4

Alfa Romeo

Brera

Coupe

Petrol

10 to 15 Years

132

5

Citroen

C5 X

Hatchback

Petrol Plug-in Hybrid

up to 1 Year

126

6

Audi

Q5

SUV

Petrol Plug-in Hybrid

up to 1 Year

117.5

7

Audi

A7

Hatchback

Petrol

up to 1 Year

110.5

8

Bentley

Continental

Saloon

Petrol

10 to 15 Years

108.5

9

Lexus

LS 600h

Saloon

Petrol Hybrid

10 to 15 Years

106

10

Citroen

e-Berlingo

MPV

Electric

1 to 3 Years

105

Based on last four weeks

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