Used market stock shortage drives record figures

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The provision of ex-fleet vehicles coming to public sale reached a file all-time low in Q3 to only one in 4 of used vehicles offered at Aston Barclay, as contract rent corporations have a 3rd of their fleet nonetheless on prolonged contracts.

This shortage of inventory contributed to fleet costs rising by 3.4% (£530) in Q3 to a file excessive of £15,808 as the common age and mileage remained constant at 40.9 months and 32,951 miles.

Late and low used vehicles as much as 24 months previous additionally broke a file in Q3 with costs rising by 3.2% (£773) to a excessive of £24,695. This was regardless of the common age rising from 14.2 to 16.0 months and common mileage rising from 11,419 in Q2 to 12,517 miles.

Inventory ranges rose in Q3 to six.0% of disposal volumes whereas conversion charges remained the best out of any market sector.

Used EV costs stalled for the primary time in 2022 throughout Q3 at £31,378 however reached a 6.2% share of used vehicles offered throughout the quarter, which was one other file.

“It’s nice to see so many data damaged in Q3, but it surely doesn’t conceal the very fact the market continues to be wanting inventory that’s contributing to those file highs and lows,” stated Mark Hankey, Aston Barclay’s chief income officer.

“Regardless of 225,000 new vehicles being registered in September we now have but to see many of those supplier half exchanges, or de-fleeted firm vehicles attain the used market. Sellers are typically hanging onto nearly all of their half exchanges to retail. They’ve needed to change their stocking technique to slot in with the market which has resulted in them providing a a lot wider inventory vary than ever earlier than.”

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