MINI car at Manheim auction

Market Tracker - July

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July wholesale data

Used car market remains stable despite new car market pressures

Whilst July trading started reasonably well and stock availability in the wholesale market did improve in July, according to results released by Cox Automotive, there has been a drop-off in consumer demand.

Both average wholesale prices and volumes experienced an increase of 5% MoM, whilst average mileage eased-up slightly to 61,463. Dealer part-exchanges also remained stable in July, with an increase of 8% in volume MoM and prices level. There was more optimism amongst fleet wholesale, with both volumes and prices increasing MoM to the highest levels seen in 2019.

Wholesale fuel data July

The average price for Alternative Fuel Vehicles continued to rise again in July as it had done in June.  All fuel-types experienced positive price increases, with a double-digit increase for AFVs.

Philip Nothard, Customer Insight and Strategy Director, said: “Whilst the wholesale market remains challenging and a tad inconsistent, it is positive to see stock availability improving. We are also seeing some dealers moving to Grade 3 product. The significant hike in AFVs prices demonstrates that there is a growing demand from consumers and a real appetite to evolve their stock profiles amongst dealers.”

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