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UK Sees Convertibles Among Top 10 Fastest-Selling Used Cars As Summer Arrives
Mercedes-Benz GLC has emerged as the fastest-selling used car in the UK, taking just 11 days to sell. This is significantly quicker than the national average of 29 days. Meanwhile, convertibles have entered the top 10 fastest sellers due to improved weather conditions.
The British summer's late arrival has reignited interest in soft tops. Data from Auto Trader shows that the Mercedes-Benz C-Class convertible and Mazda MX-5 RF are selling in about 16 days on average. This marks their first appearance among the fastest sellers in 2024.
Despite this, demand for convertibles is still down by 5.6% compared to June 2023, which was notably warmer. SUVs continue to dominate, with a 27% increase in demand over last year. The Mercedes-Benz GLC leads this category.
Scotland is currently experiencing the fastest sales rate for used cars, with vehicles taking an average of 24 days to sell. This is five days faster than the national average and eight days quicker than London, where cars linger for about 32 days.
Richard Walker, Auto Trader’s Data & Insights Director, commented: "The speed at which used cars sell is an accurate barometer of the strength of the used car market and our data suggests it remains in very robust health as we enter the summer months."
Sales Speed by Car Age
Middle-aged used cars (3-5 years old) are currently selling the quickest, averaging 26 days on forecourts. In contrast, cars under a year old take around 35 days to sell due to significant discounts on new vehicles.
Discounts on new cars have increased from an average of 6.4% last year to 8.8% now. Nearly eight out of ten new cars offer some level of discount, particularly electric vehicles.
Fastest-Selling Used Cars
{TABLE_X}Slowest-Selling Used Cars
{TABLE_X}The overall demand for used cars has risen by approximately 13% year-on-year based on around 85 million visits to Auto Trader last month. Volume models are selling in about 28 days, while premium marques take around 30 days.
This data underscores the high consumer demand in the market, with used cars selling three days faster than they did in June last year.
Auto Trader Group plc is a key player in the UK automotive market, listed on the London Stock Exchange since March 2015 and part of the FTSE 100 Index. The company aims to drive change responsibly and foster a diverse and inclusive culture.
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