Demand for used hybrid models is up 55% year-on-year with the petrol-hybrid Peugeot 3008 the UK’s fastest-selling used car, taking an average of just 12 days to leave retailers’ forecourts.
According to Auto Trader research, such is the demand for the French SUV, the model is leaving forecourts two weeks faster than the current national average.
So far this month, it’s taking an average of 26 days for used cars to sell across the UK, which is one day faster than the same period last year, and just one day slower than March 2024, which at an average of 25 days, was the fastest pace ever recorded by Auto Trader.
It highlights the ongoing consumer demand for used cars, which was also reflected in the record 89.1 million cross platform visits to Auto Trader in March.
The Peugeot is joined by a further five on this month’s list of fastest sellers, whilst across the retail market as whole, hybrid vehicles are now the fastest selling of any fuel type, currently taking just 24 days to sell.
Used petrol cars are taking an average of 25 days to sell, followed by diesel at 28, and electric cars are currently taking around 29 days. Electric vehicles (EV) aged 3-5 are currently taking an average of just 24 days to sell, putting them on par with hybrids.
More broadly, demand for used electric cars on Auto Trader continues to far outpace that of their internal combustion engine counterparts, with current levels up 59% YoY compared to a more conservative growth of 7.7% for petrol and a decline of -6.9% for diesel. Demand for EVs aged 3-5 years old is up a massive 133% YoY.
Looking at the data by age, those aged between 10-15 years old are currently taking the longest to sell, which at 32 days is more than a week slower than the fastest cohort: 3–5-year-old cars are leaving forecourts in just 24 days. Despite a positive increase in overall demand on Auto Trader, up 2.8% YoY, this more mature age group is recording a large increase in supply growth (11.2% YoY), second only to those nearly new vehicles (46.8% YoY).
According to the data, volume cars are currently taking the least amount of time to sell, leaving forecourts on average in 25 days, compared to the 28 days for premium brands.
Commenting, Richard Walker, Auto Trader’s data & insights director, said: “The speed in which used cars are selling is a good barometer of the underlying health of the used car market, and since the start of the year, we’ve seen them leave retailers’ forecourts at a record pace.
“We’ve also seen a significant uptick in the number of visits to our marketplace over the quarter, reaching an all-time record of 89.1 million in March. Combined, these metrics serve to highlight the ongoing strength of the used car market and the very robust levels of demand from consumers.
“Whilst our outlook for the rest of the year is confident, retailers do face an incredibly nuanced and complex market; as ever, the devil is in the detail, and I’d urge retailers to analyse the data on a granular level to navigate the market and identify the stock that provides the most profitable opportunities for their forecourt.”