Used car desirability index to show what’s hot and what’s not
Aston Barclay has developed a used car desirability index to help both vendors and dealers understand what’s hot and what’s not in the current market.
The new solution draws on Aston Barclay’s comprehensive used car database and uses a unique formula to help guide dealers as to which used cars to stock on their forecourts.
It also helps vendors when it comes setting the correct reserve prices in this current busy used market.
The data takes into consideration three key metrics: web views prior to sale, physical and online bid volumes per sale and the sale price achieved as a percentage of CAP Average.
The formula was created to give an accurate representation of buyer habits during April and early May in Aston Barclay’s current hybrid physical and digital auction space, which has increased buyer attendance.
Physical buyers are currently purchasing 60% more used cars than online buyers currently and the index keeps in close touch with trends in both channels.
Of the top 25 cars on the list, 14 are – not surprisingly – SUVs, particularly at the premium end of the market such as the Audi Q5, Mercedes GLE, Jaguar F-Pace and BMW X5. Four out of the top 25 models were from Mercedes Benz, reinforcing the brand’s strength in the current used car space.
The Tesla Model 3 was the only full electric car on the list and the Kia Niro and Lexus NX the only hybrids, which indicates that the market’s current appetite still leans towards petrol and diesel cars. The Lexus NX topped the table, while the Mazda MX5, BMW 2-series, MINI Clubman and Countryman were the only smaller cars to appear in the top 25.
Aston Barclay also noted that many of the used premium cars coming up at auction have become more desirable in the past few weeks as semiconductor shortages continue to impact supplies of new cars. It also added that in this buoyant market, vendors are increasingly looking to their suppliers to help them price their products to maximise their returns.
Martin Potter, Aston Barclay’s managing director – customer, said: “We built the desirability index in response to the industry wanting to understand the latest trends following the market re-opening and us embracing our hybrid physical and digital strategy. We have taken data from across all our physical and digital platforms to provide valuable insights to help both buyers and vendors.”
|Tesla||Model 3 (electric)||55.3|
|Land Rover||Range Rover||47.4|
|Source: Aston Barclay|