The December 2023 Automotive Insights Report is now available for members. The Dealer exclusive report showcases a monthly analysis of used car sales, developed in partnership with AutoGrab.
December’s AIR shows that used car trading softened compared to the previous month, most likely due to seasonal factors. The average time taken to sell increased over time, while the retained values of used cars is edging down.
Some key insights from the monthly December figures include:
• Across Australia 276,268 vehicles were listed for sale and in that period 169,312 were sold.
• The data shows that the overwhelming majority of used cars being bought and sold have petrol or diesel engines.
• The used market for electric vehicles remains very immature with battery electric vehicles making up 0.7% of total cars sold and plug-in hybrid vehicles making up less than 0.2%.
• The average time to sell a used car is 50.9 days which is a slight reduction from the previous month, but the trend shows days to sell increasing.
• Retained values continue to decline after the record highs of recent years.
• Some popular used cars are worth more on average today than when they were sold new – examples include the Suzuki Jimny, Toyota Yaris/Yaris Cross, Toyota Landcruiser, Toyota Rav4 and Honda Jazz for vehicles aged between two and four years.
• The list of top selling cars in the used market closely reflects preferences in the new car market, with the Ford Ranger taking out top spot ahead of the Toyota Hilux.
The 2023 Annual Report rounding up the full calendar year of used car sales will be made available to members in the coming weeks.
Dealers seeking more granular and local data can contact AutoGrab directly for a tailored solution.
If you are a Dealer of a contributing brand and would like access to the monthly report please email Communications Manager Ashleigh Sykes on asykes@aada.asn.au.
