Premium used SUVs in high demand as new car supplies dry up
Premium SUVs and saloons continue to top Aston Barclay’s used car desirability index, reflecting the increasing shortage of new cars currently available.
A total of 21 out of 25 used cars on the index in August were at the premium end of the market, as buyers turn to used cars during the ongoing semiconductor shortage.
Topping the index was the Lexus CT, closely followed by the BMW X5 and Range Rover.
Demand for low- or zero-emission cars also rose, with both Tesla Model 3 and Toyota Prius featuring for the first time in the index alongside the hybrid Lexus CT and IS.
German premium SUVs remained in high demand, with the Audi Q5 and Q7, Mercedes GLA and GLC and the BMW X4 and X5 all making the top 25.
But premium saloons are also proving popular; models such as the Mercedes-Benz E-Class and Volvo S60 were also in the top 25.
Martin Potter, Aston Barclay’s managing director – customer, said: “Our latest index reflects the current supply pressures in the new market caused by the semiconductor shortage. Consumers are switching to the used market for their premium SUV or saloon which means dealers are competing for the same make and model of used car. This continues to fuel high demand which is pushing up prices.”
Aston Barclay’s used car desirability index, which covers both its physical and online auction channels, is based on three key metrics: web views prior to sale, number of physical and online bids per sale, and the sale price achieved as a percentage of CAP average.
Used Car Desirability Index for August
|Make||Model||Score out of 100|
|Land Rover||Range Rover||72|