Dealers are managing their cashflow more efficiently by buying higher value premium used cars to order, rather than having multiple cars in stock, according to Aston Barclay’s May desirability index.
The demand for well-specced luxury SUVs in popular colours between £20,000 and £50,000, has heavily influenced this month’s index with dealers happy to do battle to secure the right vehicle.
The top five most desirable vehicles in May are all premium SUVs, with the Mercedes GLC taking the top spot, closely followed by the Land Rover Discovery, BMW X6 and X5, alongside the Audi Q7.
“Despite initial concern that the cost-of-living rise might see buyers turning away from premium offerings, the top-end of the market continues to demand luxury SUVs and dealers are making their purchases accordingly. Dealers are also investing their cash into lower value cars to accommodate the current change in retail confidence in the economy since Christmas,” commented Martin Potter, Aston Barclay’s Chief Customer Officer.
“The ongoing popularity of premium vehicles is in no doubt a response to the ongoing semi-conductor shortage; the scarcity of new vehicle stock is placing added demand on the luxury used market as there is simply not a high enough volume of new cars to meet the demand.”
Aston Barclay’s monthly index takes into consideration three key metrics: web views prior to sale, number of physical and online bids per sale, and the sale price achieved as a percentage of CAP average.