April 2021 is pandemic’s record used car month fuelled by strong hybrid and petrol sales reports INDICATA
- Volvo XC40 fastest-selling used car in April
- EV demand weakest of all fuel types
UK used car sales in April 2021 were the strongest of any month during the pandemic according to the latest INDICATA Market Watch used car insights report.
The market was fuelled by strong hybrid and petrol sales which rose by 30% and 23% respectively from March to April as dealers opened up showrooms again for the first time in three months.
April sales were higher than those of July 2020 when the market experienced a major increase on the back of lockdown 1.0 and when consumer spending switched from foreign holidays to buying used cars.
April’s fastest-selling used car up to four years of age was the Volvo XC40 with a stock turn of 18.4, which equates to just under 20 days to sell. Second was the Vauxhall Mokka X at 17.6 – which was also Europe’s fastest selling used car - followed by its stablemate the Zafira at 17.4.
Not surprisingly prices started rising in April and have continued through early May, a trend that may continue as semiconductor shortages look set to impact new car sales for the next few months at a time when used car are in short supply.
Demand for used EVs in April continued to be the weakest amongst all powertrains with a stock turn of just 6.1, equivalent to 59.8 days in stock per vehicle. In contrast used petrol cars at 9.9 and used diesels at 9.7 were selling at around 37 days.
“April was a record sales month, but already the pressure on supply is starting to show which is in turn forcing prices upwards. A shortage of semiconductors is already affecting new car sales so we predict prices will continue to rise,” explained Jon Mitchell, INDICATA’s sales director.
“We could be witnessing these market conditions throughout the summer months until the new car production challenges are resolved,” he added.
