Used car demand increases

AutoExec Summary
The July edition of the Automotive Insights Report (AIR) shows that the market for used cars in Australia is tightening, with rising sales and falling listings leading to a narrowing gap between demand and supply. The report indicates a drop in listings of used cars by 5.8 per cent to 285,133, but sales jumped 11.6 per cent to 214,588 units. The average days to sell have stayed relatively steady at 43.6 days, with passenger vehicles showing the largest growth in demand. Retained values continue to decline, with small vehicles in the passenger segment holding their value the best. The Ford Ranger remains Australia’s best-selling used car.

Brands mentioned: Toyota, Suzuki, Ford