Activity on digital channels in the used car market soared in Q3 2019, with web views rising by almost two thirds, according to Aston Barclay.
The firm’s latest used car market report revealed a 61.8% increase in vehicle web views during Q3, with one in three of all sales taking place online.
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In addition, there was a 50% increase in mobile bids in the quarter as an increasing number of buyers used the buyer’s app to stock during the holiday season, particularly in August. The summer holiday season for responsible for a quarterly fall in auction hall bids, though the group maintained conversion rates above 90%.
Aston Barclay’s Cascade platform has attracted an increasing number of vendors, with some now converting over 50% of their used car stock upstream prior to physical sale. This has resulted in a reduction in stocking days from 5.58 to 1.8 days.
“Dealer buying habits are continually changing as they fight to buy the very best used stock,” said Darren Wiseman, digital strategy director at Aston Barclay. “Mobile bids more than doubled during August as buyers bid on stock from their Buyer’s App whilst on holiday with fingertip access to our physical and digital sales channels.
“In the current market where demand is very strong buyers are putting themselves in the box seat by using technology to search and bid on the best quality stock while still attending some auctions.”
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By GlobalDataMercedes-Benz cars achieved the highest amount of bids during Q3, followed by Ford in second and Vauxhall in third. Mercedes-Benz also topped the list for online sales with Volkswagen and Audi taking second and third place respectively.
This was achieved against a back drop of a 38% increase in the time buyers spent viewing stock on web pages to two minutes and 34 seconds, helped by an increasing number of images and detailed inspection reports on every car.
