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Big fall in used car sales reported during second coronavirus lockdown
Date: 10 December 2020 | Author: Sean Keywood
UK used car sales fell by 22.1% year-on-year in November, as the second coronavirus lockdown in England was enforced, according to market analyst Indicata.
It also reports that average prices also fell during the month, by 2.1%, as dealers saw a 2.6% increase in stock levels, and looked to stimulate demand for online sales while showrooms were shut.
Indicata says this was the first price drop seen since the spring lockdown, and argues that this shows how buoyant the used market has been when it has been trading.
It says prices rose again by 0.3% in the first few days of December, with the second lockdown ending.
In addition, it says demand for EVs and hybrids slowed for the second month in succession, with consumers turning to petrol and especially diesel for better value.
Group sales director Jon Mitchell said: "We saw our online wholesale portal stock levels rise during November but not dramatically as many dealers have been investing in new stock at the lower lockdown prices.
"Everybody is expecting a strong trading period over Christmas and into Q1."
