Used car stock levels rose by 2.5% in January, driven by the market slowdown that was seen towards the end of 2021, data from INDICATA has revealed.

Sales of used cars fell by 19.3% in December, which is in line with typical market slowdowns at the end of the year. The increase in stock was further supported by some dealer groups de-fleeting ageing cars to boost their December year-end performance.

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INDICATA said there are signs that some vendors have held used cars back to sell in January, which is also boosting stock levels, but this will be a short-term measure as the semiconductor crisis looks set to restrict new car production for many more months to come.

Whilst used diesel sales remain the fastest-selling powertrain on average with a stock turn of 5.9 it is worth noting that BEVs tied for second place at 5.3 with petrol. EV volumes reached their highest level in late 2021 but still comprise a small fraction of total used car sales.

When looking at December’s top-seller’s table of cars less than four years of age the Ford Fiesta came top with a Market Day’s Supply (MDS) of 67.5 days, followed by the VW Golf at 69.2 days and the Mercedes A-Class at 75.4 days. The Porsche Taycan and the MG3 were the fastest-selling used cars.

“Stock levels have certainly improved very slightly moving into January, but we expect demand to continue to exceed supply and for prices to remain very high,” explained Jon Mitchell, INDICATA UK group sales director.

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“Used diesel cars continue to sell quickly despite the continued focus on EVs and hybrids. There is a strong market in place for used diesels especially in areas not affected by the Low Emission Zone regulations,” he added.

In 2021 as a whole, used car sales grew by 15.3% year-on-year, and by 0.8% over 2019 despite the market being under increased pressure from falling stock levels.