October saw dealer used car inventories hit their highest level for the year as dealers assimilated the part-exchanges generated by the September plate-change.
Data from motors showed average stock levels grew 7% month-on-month (MoM) from 50 to 54 units, representing a 2% rise year-on-year (YoY).
It said the hike was powered by car supermarkets, where inventories grew 12.5% from 180 to 203 units, and franchised dealers, up 12% from 56 to 63 units. Independents also increased from 37 to 38 units.
The biggest increase in volume came from younger cars, under two years old, up 2% MoM and 9% YoY. MOTORS also recorded a more than five-fold MoM increase of 75-plate listings, as pre-registered cars entered the used car market.
Stock mix by fuel type remained stable with petrol (53%), hybrid (11%) and EVs (6%) all making small gains at the expense of diesel (29%). The combined share of alternative fuel cars increased YoY from 14% to 17%.
The availability of more stock in the market had a negligible impact on days to sell which increased MoM by just one day to 32. While the average price of a used car on MOTORS increased 1.3% (£228) to £17,877.
Lucy Tugby, marketing director of Motors, said: “October’s increased average stock volumes reflect the seasonality of part-exchanges from the September plate change and end of contract fleet cars. We also tracked an influx of pre-registered 75-plate cars filtering through to used forecourts.
“Our Market View data shows dealers continued to trade briskly in October and held firm on advertised prices, suggesting a positive start to the final quarter.”
The most viewed used car on MOTORS was the Volkswagen Golf, followed by the Ford Fiesta, Ford Focus, Vauxhall Corsa and Volkswagen Polo. While the top sellers were the Vauxhall Corsa. Nissan Qashqai, Ford Fiesta and Ford Focus.
Once again Wales was the cheapest part of the UK to buy a used car with prices averaging £14,638 and London remained the most expensive at £22,242.