The latest data from Auto Trader, a UK automotive marketplace, reveals that the Kia XCeed has claimed the top spot as the country’s fastest-selling used car, taking an average of 14 days to leave retailers’ forecourts.
Slightly trailing in joint second position are the all-electric Tesla Model 3 and the Mercedes-Benz EQC, both boasting an impressive 14.5 days to sell. Additional entries in the list include the Hyundai IONIQ at 15 days and the discontinued Ford Fiesta, changing hands in a swift 16 days.
Notably, SUVs dominate the list of the UK's fastest-selling used cars, with six out of the top ten featuring this body type. The petrol hybrid Ford Puma, Skoda Karoq, and Volvo XC60 are among the sought-after models.
In contrast, the top ten slowest-selling used cars have taken an average of over two months to leave retailer's forecourts. The Vauxhall Crossland is the slowest-selling used car in the UK, requiring an average of 75 days to sell. The Land Rover Range Rover follows at 72.5 days, with the Mazda CX 30 taking 70 days to find new owners.
Examining regional differences, Scotland emerges as the fastest-selling region, with dealers taking, on average, 24 days to sell their vehicle stock. The North East, West Midlands, and Yorkshire & the Humber tie for second place, each averaging 25 days.
In contrast, London emerges as the slowest-selling location, with retailers taking an average of 31 days to move used cars off their forecourts.
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For the past six months, EVs dominated as the fastest-selling fuel type. However, this month, used petrol cars have outpaced their battery-powered counterparts, taking just 26 days to sell, compared to 28 days for both EVs and diesel cars.
Notably, low-emission vehicles make up the majority (60%) of the current top 10.
Richard Walker, Data & Insight Director at Auto Trader, said: "Demand amongst consumers continues to remain strong at the start of 2024 with used cars flying off forecourts just as quickly as last year. With many of the fastest-selling used cars less than 12 months old, we're seeing plenty of appetite for the used versions of the latest models."
Walker added, "Although supply in this age cohort is up around 30% year-on-year, it remains below the very strong levels of demand, and as a result, offers a real profit opportunity. It highlights just how important it is to keep a close eye on the latest data to remain ahead of the curve."