Diesel Tops the List as the UK’S Fastest Selling Used Fuel Type
Data from Auto Trader, the UK’s largest marketplace for used and new cars, revealed that despite wider market challenges, diesel was the UK’s fastest selling used car fuel type in April. Of the 13 regions and countries tracked, seven featured a diesel as their respective fastest selling, with the 2015 Mitsubishi Outlander diesel manual topping the national top 10. It took an average of just 14 days to sell last month.
Diesel was the most desirable in the East Midlands (2017 Ford Kuga – diesel manual – 18 days), North East (2015 Nissan Qashqai – diesel manual – 24 days), Northern Ireland (2015 VW Golf – diesel manual – 31 days), Scotland (2016 Ford Kuga – diesel manual – 15 days), South of England (2015 BMW 3 Series – diesel automatic – 19 days),Wales (2015 Ford Kuga – diesel manual – 22 days), and the West Midlands (2016 Ford Kuga – diesel manual – 21 days).
As highlighted by the Auto Trader Retail Price Index, although new diesel registrations continue to fall, the average price of a used diesel vehicle on Auto Trader was £14,555 in April, a £102 month-on-month increase and a £939 jump on the £13,616 recorded in April 2017. On a like-for-like basis, this represents a 5% increase, and the fastest rate of growth since September 2014.
Diesel wasn’t the only winner in April. In terms of body type, hatchbacks were clearly the most desirable, topping the list of eight of the 13 regions and countries tracked: East England (2015 VW Polo – petrol manual – 21 days), London (2015 Nissan Qashqai – petrol manual – 16 days), North East (2015 Nissan Qashqai – diesel manual – 24 days), North West (2013 VW Polo – petrol manual – 20 days), Northern Ireland (2015 VW Golf – diesel manual – 31 days), South East (2015 Nissan Qashqai – petrol automatic – 19 days), South West (2013 Ford Fiesta – petrol manual – 23 days) and Yorkshire (2011 Ford Fiesta – petrol manual – 21 days).
Hitting targets will always be determined by how quickly a retailer can turn their stock around and using data is the key to speeding it up. Users of i-Control, Auto Trader’s data management solution, took an average of just 27 days to sell a car in April, compared to a market average of 65 - 58% faster than those that don’t use the data management tool.
Karolina Edwards-Smajda, Auto TraderRetailer & Consumer Products Director, said: “It’s hugely reassuring to see that at a time when diesels are under growing pressure within the new car market, second hand diesels continue to show their resilience. And despite the negative headlines, diesels still offer excellent profit potential.
“Our research shows that the key to maximising profit and growth is the ability to turn stock quickly. On our marketplace the best performing retailers achieve this by applying best practice techniques, such as being more responsive to customer enquiries and of course creating trust through transparency, presenting clear images and videos that reflect the true condition of the car, as well as offering impartial reviews. These same retailers are also complementing their own expertise with data management tools. They’re using data to find the most desirable cars in their area and they’re using it to price according to the live retail market, offering greater price transparency and building more trust in the process.”