INDICATA Market Watch: Online B2C used car sales for Q3 YTD 8.1% down
Online B2C used car sales for Q3 YTD 8.1% down
September’s online B2C used car sales were 21.9% up on the August results but it still meant they were 1.5% lower than in September 2021 and 4.7% behind the same month in 2019. This means sales for the first three quarters of the year are 8.1% lower than last year and 9.0% behind the first nine months of 2019.
AThe drop in year-on-year sales were driven by the traditional powertrains with online B2C used diesel car sales 3.1% lower in September 2022 than the same month last year whilst used petrol car sales dropped 6.4% over the same period. Used BEVs and hybrids managed to increase sales with both powertrains seeing a 16.4% YOY increase in sales.
The 51% increase MoM in young used cars less than 1-year-old may indicate manufacturer-backed tactical registrations have gone crazy but it is worth noting these levels are still 10% down on what was seen this time last year.
Stock levels going into October saw a small 2.0% improvement, but they are still 8.5% down on the same point last year.
Demand for BEVs may have seen a 1% MoM reduction with stock turn dropping to 4.5x, but they are still 11% up against September 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. As we are seeing in other markets used car inflation is slowing or even reversing. In the Dutch market average online B2C used car prices going into October are just 0.1 percentage points higher than a month earlier which puts them 10.0pp 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 October 2022 (The Netherlands)
INDICATA Market Watch October 2022 (Europe)
