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Used car prices rose 1.5% in February, eBay Motors Group reports

Dermot Kelleher, head of marketing and research at eBay Motors Group

The average list price of a used car increased by 1.5% in February, climbing from £12,370 to £12,558, according to eBay Motors Group.

The online marketing specialist said that the rise had been led by independent dealers, whose advertised prices rose 3.3% from January to £10,705.

Prices at franchised dealers dipped 0.7%, while car supermarkets were down 0.9%.

Enquiry levels remained high with a 27% year-on-year increase in dealer leads, eBay Motors Group data indicated.

With showrooms still closed to customers, average days to sell remained unchanged month-on-month at 49.5 days. The fastest sales in February were achieved by independent retailers averaging 48.7 days, followed by franchised sites at 49.1 days. Both in line with their January averages.

Average month-on-month stock levels also remained steady dropping marginally to 50.6 from 51.5 units.

The car supermarket sector experienced the biggest month-on-month variations in both stock levels and days to sell. Stock volumes dropped 10.7% to 349 units, while days to sale increased 8.9% to 52.8 days.

“The overall picture for February was a steady month, in line with January, with car dealers still only able to transact online," said Dermot Kelleher, head of marketing and research at eBay Motors Group.

"However, with February last year marking the final full month of normal trading ahead of the covid lockdowns, it’s encouraging to see enquiry levels performing so strongly with a 27% year-on-year increase."

The fastest selling used car in February, according to eBay Motors Group, was the Ford Puma (30.9 days), followed by the Citroen C3 Aircross (31.4 days) and Hyundai Kona (31.7 days).

Petrol remains the fuel of choice for car buyers, accounting for 51.3% of views on and 54.4% of all stock advertised, as buyer intent continues to shift away from diesel.

Hybrids accounted for 1.9% of views and 2.4% of total advertised stock volumes. While electric vehicles accounted for 1% of views and stock.

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