Premium ICE SUVs and cheaper EVs and hybrids dominate used car demand
Larger premium SUVs were the most in-demand ICE used cars in August but slightly older and lower value EVs and hybrids also proved popular, according to Aston Barclay.
Its latest ICE desirability index was topped by the Jaguar F-Pace, closely followed by the VW Touareg and three Land Rover SUVs – the Velar, Discovery and Range Rover. Ford’s Puma and the Mazda MX-5 were also in the mix.
But while dealers have been bidding on more expensive premium petrol and diesel SUVs to satisfy individual customer demand, the data also shows a growing number of drivers moving away from ICE cars.
This has led to consistent demand for used EVs and hybrids during the summer, with the market still weighted more towards sub-£20,000 models.
The Toyota Prius topped the EV and hybrid desirability index, with the Kia Niro, Renault Zoe, and the Hyundai Ioniq in third, fourth and fifth place respectively. The only exception to the rule was the higher value Audi E-Tron in second place.
“Dealers are generally buying higher-value used premium SUVs to order rather than for stock to protect their cashflow,” explained Nick Thompson, Aston Barclay’s director of sales.
“Used EV prices and demand are also now stabilising with dealers focused on models that deliver good value for customers.
“We predict both these trends continuing. The introduction of ULEZ zones in the UK will drive some buyers towards low-emission cars for the first time, while dealers are likely to continue buying high value cars to satisfy sold orders to reduce stocking costs,” concluded Thompson.
Aston Barclay’s monthly index is based on three key metrics: web views prior to sale, number of physical and online sale bids, and sale price achieved as a percentage of CAP average.