Used Cars For Sale Websites – Franchise dealers sell used cars faster than independent in October 2018, even though they carry 40% more stock, according to the latest figures from Motors.co.uk. Data from last month found cars sold by franchise dealers an average of 38 days in stock during October, an increase of 40 days they took in September 2018, but a day of more than 37 days reached in October 2017.
Cars sold by independent sites averaged 42 days for sale in October, longer than 38 achieved in September but ahead of the average 44 days in October 2017. However, franchises and independent car supermarkets are the fastest sellers in just 28 days, although this is longer than the 26 days they took in September and eight days longer than the average 20 days in October 2017.
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Dermot Kelleher, director of marketing and business intelligence at Motors.co.uk, said: “Although the new car market slumped in October, the sector used to remain stable with both franchise dealers and independently saw average day rates in inventories that were reasonable compared to the norm seasonal.
“Demand for used cars has remained stable throughout October with franchise dealers and independently reducing months to months in stocks while increasing their stock levels. The challenge facing all dealers now is to close this year by making their physical and virtual forcourts work as hard as possible. ”
This research is based on consumer responses to more than 800,000 vehicles used at Motors.co.uk and its partner site network including Top Gear and Honest John.
Independent franchises and forecourts both have higher stock levels from September and 12 months ago.
The average franchise site has 63 cars in inventory in October, compared to 58 in September and 64 in October 2017.
While independent on average only 45 cars are in stock in October, compared to 44 in both September and October 2017.
The best-selling market segment in October is 4X4 and lower-middle cars, on average 35 days, while coupes are the slowest in 40 days. The biggest increase in a year on sales speed was enjoyed by the large vehicle segment which sold 9% faster with an average of 39 days in October 2018.
Conversely, small and superminist cars sold 6% slower during the same time period.
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