- The gap between prices at the bottom and top end of the used car market continues to grow
Premium SUVs, 4x4s and saloons are currently the most desirable used cars in demand in September according to the latest Aston Barclay desirability index.
Nineteen out of the top 20 places in the Aston Barclay index are taken up by premium brands with just one volume brand and model, the Toyota CH-R, making its way onto this month’s list.
The table is further proof that dealers continue to bid on and buy higher-value used cars at auction as and when they need them to reduce their stocking costs and improve cash flow. It also shows how the bread and butter used car market has softened during the holiday season based on a fall in consumer confidence.
The Audi Q7 topped the table, closely followed by the BMW 6 series and the Audi Q5, with a total of seven premium brands represented in the top 20.
The Tesla Model 3 was the only EV to make it onto the Aston Barclay table while the Toyota CH-R was the only hybrid as buyers continue to prefer petrol and diesel engines at the larger end of the used car market.
“This is the first time we have witnessed a major bias towards high end premium used cars across the entire index. The demand for used cars at the value end of the market has fallen, while demand for higher value premium used cars has risen. The gap between the bottom and the top of the used market increases with dealers prepared to bid for those high value used cars that remain in very short supply,” said Mark Hankey, Aston Barclay’s chief revenue officer.
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.