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Data released by Cox Automotive showed a stable trade and consumer market in November.
Cox’s said its wholesale division was on course for a positive end to the year with year-on-year results that put its overall performance on par with 2016.
In November, its trade-to-trade online auction platform Dealer Auction reported a 7.4% year-on-year increase in the number of vehicles sold.
Volumes through its physical and online Manheim auctions saw a month-on-month decrease in November compared to October, which it said was is in line with expected seasonal shifts. Cox said demand for stock from car supermarkets was particularly strong in November.
It also said retail demand was strong with its Motors website seeing average sold prices up 12.4% up on November 2016, at £14,274. Remaining within 0.5% of October’s figures, and
Philip Nothard, head of external relations at Cox Automotive said: “New car sales were down 11.2% in November but this contrasts sharply with the story in the used car sector, where data demonstrates that the market is a continued area of focus for dealers, with great stability year-on-year.
“Our data shows that in auctions, the car supermarkets are continuing to buy and this is driving the market forward, while franchise dealers appear to be a little more cautious, which perhaps reflects their focus on a slowing new car market.
“Looking ahead, we anticipate that this will level out in 2018, with used cars continuing to be an area of focus for all dealers, as we move through the early quarters of next year.”