Car sales fall ‘dramatically’

The number of dealers that sold cars last week came in at 545, a significant drop from 865 the week prior, according to the latest figures from Apexdealerdata.com.

Statistics from the online platform reveal how trade has tumbled with the average number of sales per dealerships dropping from 23 to nine over the same timeframe.

Matt Grant, chief executive of Apexdealerdata.com, notes sales have fallen dramatically in the past week and the average number of days to sell a car has increased from 60 to “67 and climbing”.

The AI-driven decision engine also shows 17 per cent of stock nationwide last week was categorised as underpriced by $2,601.

Grant adds Apex has a new model overview feature that allows users to look at the total market and what's for sale down to make, model year, and specification level, which means dealers can “accurately price cars”. 

“This allows dealers to see what to advertise their stock for before putting it for sale and you also get to see what’s sold for the past three weeks.”

The Apexdealerdata.com market reports appear every Monday on Autofile Online.