The UK used car market demonstrates strong underlying health, with vehicles selling in an average of 30 days so far this month, according to Autotrader.
The petrol hybrid MG ZS (1-3 years) sold in 13.5 days on average, followed by the pure electric Polestar 2 and MG4 (17 days). MG, Tesla and Polestar account for seven of August’s top 10 fastest-selling used cars, with MG and Tesla each featuring three times.
Marc Palmer, head of strategy and insights at Autotrader, said: “August’s fastest-selling data highlights the continued strength of the retail used car market.
“Demand remains robust, with vehicles continuing to sell quickly and the best-performing stock moving well ahead of the market average.
“Electric remains the fastest-selling fuel type, whilst the strongest demand is concentrated among 3-to-5-year-old EVs, where greater affordability is helping drive some of the fastest sales in the market.”
The average 3-to-5-year-old electric car is selling within just 20 days, making it the fastest-turning segment of the market (10 days quicker than the wider market average).
In July, the average price of a 3-to-5-year-old EV was £20,037, compared with £18,731 for a petrol equivalent.
According to Autotrader’s latest Retail Price Index data, like-for-like values for 3-to-5-year-old electric cars rose 10.2% year-on-year in July.
Palmer added: “For retailers, that’s a reminder that opportunity often sits in the detail. Demand isn’t moving uniformly across every fuel type, age profile or model, and the vehicles performing best aren’t always the ones broader market trends might lead you to expect.
“Staying close to live retail demand and using data to inform sourcing, pricing and merchandising decisions remains critical to identifying where the strongest opportunities lie.”
