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05 July 24 Publications

Welcome to our Monthly Market Intelligence Report, featuring the latest insight from the UK's largest new and used car platform.

In this edition we explore topics such as:

  • Despite the short-term disruption from the Euros and general election, activity remained strong as site visits to Auto Trader grew by 10% year-on-year.
  • June marked the strongest market health for used cars in over a year, with a 15% year-on-year improvement - driven by supply constraints in younger cohorts and strong consumer demand.
  • With demand remaining strong and supply constrained, used cars sold every 29 days in June, two days faster than the same time last year.
  • Used car sales growth continued in June, with estimated transactions up 5% in the first half of 2024.
  • Used car retail prices continued to fall in June, declining 10% on a like-for-like and year-on-year basis, driven by pricing pressures in nearly new and 10-15-year-old cars where supply exceeds demand
  • Retail price growth improved in segments where supply was constrained and demand was strong, including 1-3 and 3-5 year old cars.
  • On a month-on-month basis, retail prices moved broadly in line with seasonal trends (-0.5%), although slightly below the pre-pandemic average.

 

 

 

 

 

Monthly Market Intelligence Report June 2024
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