Used car sales in second lockdown were at 70% of typical level, Aston Barclay reports
11 December 2020
Author: Sean Keywood
Used car sales in November were at 70% of their usual level despite coronavirus lockdown restrictions, according to Aston Barclay.
The remarketing firm said that thousands of vehicles were sold despite showrooms being shut and many used car buyers on furlough.
Aston Barclay said that overall prices softened or remained static - however, the average price of 24-60-month-old ex-fleet stock was down by 9.5% to £10,638, although Aston Barclay considers this to be a short-term blip with values already starting to recover, and this average was still higher than that seen at the start of the year.
In a varied market, late and low prices were static at £16,486, while budget part exchange cars rose slightly in value to £1,312 on average.
However, 55-78-month-old part exchange cars were down by 9.9%, and 79-128-month-old part exchange car prices fell by £183 to £3,517.
EV and hybrid prices were down by 9.1%, which Aston Barclay said moved them closer to equivalent petrol and diesel models.
It said the trade is anticipating a strong end to December and start to January, but the firm's MD - customer Martin Potter warned that many factors outside the market's control could affect its progress.
He said: "Overall, we were very positive about how November performed compared with the first lockdown, but how Brexit may affect the used car market is still unclear. The likelihood is that it will impact the new car market more readily.
"Consumer confidence is still in the balance moving into 2021 with the unemployment rate continuing to rise which is countered by the positive news that the vaccine programme will start before Christmas.
"What I know is that the used car industry would love some consistency to return in 2021."