Whereas the brand new automotive market continues to stall, the used automotive business remains to be driving within the quick lane.
With document numbers of motorists promoting their automotive on Motorway, we’re flush with high quality inventory to purchase throughout all makes, fashions and costs.
To offer sellers a flavour of the vehicles which might be most in demand proper now, we’ve taken a glance underneath the bonnet to disclose the Prime 10 hottest vehicles bought over the summer season on our platform, based mostly on the variety of bids every automotive acquired.
There are actually greater than 5,000 sellers bidding and shopping for on Motorway and profiting from the 1,000+ automobiles going into our public sale every day.
With so many vehicles on the market, our sellers had been spoiled for alternative all through the summer season, whether or not they had been searching for SUVs, hatchbacks or sports activities vehicles.
But it surely was the electrical automobiles that basically captured our sellers’ consideration.
With motorists now lining as much as get their fingers on EVs, sellers have taken word and are stocking up on high quality used fashions as quick as they will.
There have been three mid-to-high-end EVs included in our Prime 10.
A Mini Cooper S Electrical from 2020 began a bidding frenzy on the platform, attracting an enormous variety of bids with a closing sale value of greater than £30k.
Whereas the Mini model persistently attracts quite a lot of consideration, its electrical fashions are a sizzling ticket proper now amongst motorists, and sellers are snapping them up.
Equally, the BMW i3 is in critical demand, owing to its fame for sturdiness – two particular fashions that went into public sale over the summer season created an actual buzz.
Each fashions had been well-maintained automobiles round 5 to 6 years outdated and with a full service document of primary sellers solely, which resulted in a closing sale value of between £17k and £18k.
The rising demand for used EVs, significantly in additional premium segments, exhibits no indicators of slowing down as we enter the third quarter of the 12 months.
Excessive-end vehicles are additionally attracting quite a lot of consideration proper now, almost definitely due to new automotive provide constraints.
Savvy sellers, acutely aware that would-be automotive patrons with excessive disposable incomes can’t get their fingers on new vehicles, are lining their forecourts with nearly-new luxurious vehicles to satisfy this rising demand.
In July, a Porsche 911 Turbo created a flurry of bids at public sale, ultimately going for greater than £200k.
With barely 4,000 miles on the clock and on the street for simply two years, this automotive – pictured at prime – was a dream purchase for a seller with a extra solvent buyer base.
It should come as no shock that the majority the vehicles in our Prime 10 are each nearly-new and low mileage.
The continued scarcity of provide within the nearly-new phase means younger fashions that go into our auctions create an actual bidding struggle.
From a one-year-old Hyundai Ioniq 5 to a 2019 Volkswagen Golf GTI and a 2018 Mini Cooper, sellers battled it out to safe these vehicles for one of the best value.
Lastly, the automotive that acquired essentially the most bids over the summer season was an ever-popular Fiat 500 Classic.
This specific automotive attracted essentially the most consideration because of its full service historical past, nice situation and low mileage relative to its age.
It’ll be attention-grabbing to see how properly the EV model of the Fiat 500 does after we begin seeing nearly-new variations hit our platform within the subsequent 12 months or so.
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