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Used car market showing growth as new declines, says Dealerweb

Martin Hill, chief executive, Dealerweb

Dealerweb data has revealed that dealers saw used car finance grow at 15.4% in November against the same month last year.

The strong growth in used car finance supported a leap in used sales of 12.3% in a trend which contrasts the new sector, which saw sales decline 1.1%. 

Also reflecting this pattern, Dealerweb saw new car leads drop by 13.5% as used car leads increased 10% during the period.

Demonstrations for used vehicles rose by 8.7%.

Dealerweb’s managing director, Martin Hill (pictured), said: “It is clear that 2018 has proven to be the year of the used car.

"Dealers see growth opportunities for used sales and associated income streams with increases in gap insurance, paint protection and finance. As we move into 2019, it is essential that every lead is managed with a robust process.”

Dealerweb supports dealer groups, and independent retailers maximise their sales performance through better lead management and smarter customer communication.

The data showed that dealers have improved new car sales conversion rates from 29% to 33%.

Hill said: “Dealers are operating in a golden age of data. Every aspect of a retail motor business can be quantified and measured, but it's important that the data is shared and acted upon to create a strong sales culture.” 

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