Used market holding up

Used vehicle sales this month are reportedly tracking in-line with those of May despite fears of a big drop-off following a bumper number of registrations in June ahead of changes to the clean car discount.

Matt Grant, chief executive officer of Apexdealerdata.com, says the latest figures from the market show registration numbers are at a higher level than many people in the industry predicted.

The average number of sales per week per dealer stood at 12 last week, having peaked at 15 in June, and 785 dealers completed registrations. The average number of days to sell a car remains stable at 65.

According to the latest data from Apexdealerdata.com, the best-performing dealership last week was in Christchurch and sold 45 cars. 

Ninety-nine per cent of its stock was categorised as being priced “on market”, which the AI-driven online platform calculates as the best price to get the fastest return and most value for a vehicle.

At the other extreme, a dealer who only managed one sale had 98 per cent of its vehicles ranked as over-priced.

The figures are part of the weekly Apexdealerdata.com market report, which appears every Monday on Autofile Online.