Dealer demand for diesels remains strong
Despite a continued downturn in new car registrations, the used car market is holding steady, with dealer demand for diesels also showing no signs of waning, according to Manheim parent Cox Automotive.
The firm noted that car supermarkets in particular are continuing to buy and this is driving the market forward, while franchise dealers appear to be a little more cautious.
Cox’s latest data shows the average sold price through Manheim held steady at £6,431 down 0.7% compared to October but a 6.3% uplift when compared to the same period last year. The average mileage of vehicles sold also stood steady at 58,779 (-0.7% on October).
Volumes through its physical and online Manheim auctions saw a month-on-month decrease in November compared to October; broadly in line with expected seasonal shifts. Year-to-date figures for Manheim show a stable market that is within 0.55% of 2016 (Jan-Nov 2016 vs. Jan-Nov 2017).
And despite a significant downward trend in the new car market for diesel, used diesel volumes through Manheim are up 1.33% year-to-date, and on course to achieve expectations set at the start of the year. However, data from Cox’s motors.co.uk division indicates that consumer behaviour is showing signs of changing, with views for diesel vehicles down year-on-year (-2%), despite there being an increase in their share of total stock (+3%).