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Data from Auto Trader, the UK’s largest marketplace for used and new cars, revealed that the 2017 MINI Cooper (petrol manual) was on average, the fastest selling used car in January, taking an average of just 17 days to leave forecourts. Second and third place on the national top 10 list were taken by the 2016 Fiat 500X (diesel manual) and 2015 Nissan Qashqai (diesel manual), both of which took on average an extra 10 days (27) to sell over the MINI.
Hatchbacks well and truly dominated the used car market last month; not only did seven make an appearance on the national top 10 list, but out of the thirteen regions and countries tracked, nine featured a hatchback as their respective fastest selling.
Despite the disappointing performance recorded in the new car market last month, in terms of regional desirability, used diesels got this year off to a solid start. As well as four making their way on to the national top 10 list, seven topped the regional tables as the fastest selling used car in January: East Midlands (2014 BMW 5 Series; diesel automatic), London (2014 Volkswagen Golf; diesel automatic), North West (2017 Volvo XC60; diesel automatic), Northern Ireland (2014 Hyundai ix35; diesel manual), Scotland (2016 Fiat 500X; diesel manual), Wales (2017 Nissan Qashqai; diesel manual) and West Midlands (2016 Fiat 500X; diesel manual).
As highlighted by the Auto Trader Retail Price Index, used diesels are continuing to hold their value, and are in fact growing. On average, a second-hand diesel cost £14,405 in January, which was a £777 increase on the same period in 2017. On a like-for-like basis, this represents a respectable 3% year-on-year growth.
Hitting targets will always be determined by how quickly a retailer can turn their stock around and using data is the key to speeding it up. Users of i-Control, Auto Trader’s data management solution, took an average of just 37 days to sell a car in January, compared to a market average of 74 – 53% faster than those that don’t use the data management tool.
Karolina Edwards-Smajda, Auto Trader Retailer & Consumer Products Director, said: “The start of the new year is always a busy time for the industry. And while it will face some challenges in 2018, the year ahead holds some exciting opportunities for retailers, not least an expanding used car market, increased used car finance, and the growing popularity of AFVs.
“To navigate these challenges and to successfully capitalise on the opportunities available, the ability to manage and read your data will be key. Using data, alongside your own experience and expertise, to understand what cars are the most desirable in your area, and how to price them based on the live retail market, will not only help you stand out in an increasingly competitive marketplace, but also to drive trust amongst today’s car buyers.”
The UK’s Top 10 Fastest Selling Used Cars in January 2018:
|Rank||Description||Average Days to Sell||Average Price Position||Average Retail Price|
|1||2017 MINI Hatch Cooper Hatchback Petrol Manual||17||97.05%||£16,112|
|2||2016 Fiat 500X Hatchback Diesel Manual||27||98.55%||£11,143|
|3||2015 Nissan Qashqai Hatchback Diesel Automatic||27||98.58%||£14,944|
|4||2016 Vauxhall Corsa Hatchback Diesel Manual||27||98.11%||£7,370|
|5||2016 Ford Ka Hatchback Petrol Manual||27||97.48%||£6,530|
|6||2017 Skoda Kodiaq SUV Petrol Automatic||27||99.22%||£28,694|
|7||2015 Peugeot 3008 Hatchback Diesel Automatic||28||99.12%||£11,725|
|8||2010 Volkswagen Scirocco Coupe Petrol Manual||29||101.21%||£8,369|
|9||2016 Nissan Micra Hatchback Petrol Automatic||30||99.44%||£8,920|
|10||2014 Toyota Auris Estate Electric Hybrid Automatic||31||98.46%||£12,238|