INDICATA Market Watch: Online B2C used BEVs shooting ahead
Online B2C used BEVs shooting ahead
Online B2C sales of used BEVs continue to outperform the market with June year-on-year sales up 44% compared to the total market falling 7.3% YoY.
June total online B2C used car sales were10.8% up on May but that wasn’t enough to reverse the year-to-date performance with June YTD 5.8% down on last year and 3.1% lower than the same period in 2019.
Hybrids also saw some growth with June 2022 8% higher than June 2021 but used petrol cars and used diesel cars saw sales fall 14% and 20% respectively.
Whilst the Dutch market is not as stock constrained as others getting hold of the right quality stock remains a challenge with stock levels going into July 6.5% lower than at the start of June and 2.4% lower than a year earlier. A stock turn of 6.5x makes BEVs the fastest-selling powertrain thanks to a 55% YoY increase.
Whilst there was some evidence of manufacturer backed tactical registrations with sales of very young used cars under 1-year-old increasing by 11% in June compared to the previous month the semiconductor issue is limiting what they can do and what they did register was 31% less than we saw in June 2021.
Our price index is based on a consistent pool of vehicles indexed against January 2021 and has been reset for the start of the new year which creates a typical uplift of around 2%-4%, followed normally by a lifecycle driven downward curve in average prices. With stock levels still falling but strong demand prices jumped 0.8 percentage points in our used car price index going into July which means average online B2C car retail prices are now 7.2pp higher than at the end of last year.
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Background
On the 24th of March INDICATA published its first White Paper “COVID-19 To what extent will the used car market be affected (and how to survive)?”. This document explored:
Early market trends - Initial impact of the virus and the social distancing measures implemented.
Market scenarios – A range of impacts based on infection rate development and historical market data.
Mitigation – Risk assessment by sector coupled with potential corrective actions.
We committed to keeping the market updated with live data, volume, and price, to keep abreast of the fast-moving environment.
As such we are pleased to announce “Indicata Market Watch”.
How do we produce our data?
Indicata analyses 9m Used Vehicle adverts across Europe every day. To ensure data integrity, our system goes through extensive data cleansing processes.
The Sales (deinstall data) in this report are based on advertisements of recognised automotive retailers of true used vehicles. As such, it does not include data related to private (P2P) advertisements.
Where an advert is removed from the internet, it is classified as a “Sale”.
Appendix
INDICATA Market Watch July 2022 (The Netherlands)
INDICATA Market Watch July 2022 (Europe)
