Used cars are taking longer to shift off forecourts as the market tightens.
That’s the view of Realtime Communications, which works with over 60% of the UK’s twelve largest retail groups in the UK and over a third of the largest 100 groups.
Used car stocking days are tracking at a 73 day average currently, up from 56 a few months ag
It found that more lower quality cars. (<20) & (20-39) banded based on Autotrader rating bands s are now t’over-priced’ than under; a reversal of the trend seen at the start of the year, creating a stock risk.
Conversely, higher quality car bands (40-59) (60-79) (>80) are still weighted towards being under-priced.
“Over the last eighteen months, used vehicle stocking adapted to an unprecedented demand exceeding supply position.
“Retailers moved to broaden their stock mix, often extending it to older stock and stocking day discipline has largely taken care of itself.
“Now, in a rapidly changing economic climate, it’s time to get back to robust, data-led, analytical practices for vehicle stocking.
“Our assessment is that right now, the used car opportunity rests in meeting the needs of a growing risk-averse consumer,” said Alistair Jeff, commercial director at REALtime Communications.