Used cars are taking an average of just 29 days to sell so far this month which is one day faster than the same period in May 2024, says Auto Trader.
The current fastest selling body type in the UK is the hatchback, leaving forecourts in 29 days on average.
Marc Palmer, Auto Trader’s head of strategy & insights, said: “We continue to see used cars sell at a rapid pace, which is a very good barometer of market health.
“Despite what’s been a turbulent few months from an economic and political perspective, consumer demand for used cars remains very robust.
“However, whether it’s hatchbacks, convertibles, young or old, there’s huge nuance in the market, so I’d really encourage retailers to analyse the data and insights available to ensure the most profitable sourcing and pricing strategy.”
The Vauxhall Corsa is currently the UK’s ‘hottest’ used car. Despite being over thirty years old, the hatchback remains a favourite, with the petrol variant taking just 15 days to sell in May.
Convertibles did not make it onto the list of top 10 models but this body type is selling three days faster than in May 2024, with the average used convertible selling in 32 days.
Auto Trader’s data shows that used cars aged 5-10 years old have been consistently the fastest selling age bracket over the past 12 months, and in May to date. Vehicles in this age bracket are selling in just 27 days, a day faster than last year.
Despite making up half of this month’s top ten models, the ‘nearly new’ cohort (up to a year old) are the slowest-selling group, taking 34 days on average.
Alternatively fuelled vehicles make up 30% of the hottest cars this May, including two pure electric vehicles. Full/mild hybrid and electric vehicles are taking an average of 32 and 34 days to sell respectively.
Petrol accounts for 60% of models, including the Corsa in first place, and is the fastest fuel-type overall, with the average used petrol car selling in 28 days. The average used diesel car is selling in 30 days.