Read our latest weekly update on the state of the used car market containing analysis of prices, volume and clearance rates.
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- Prices continue strong rebound and have now recovered what was lost due to COVID-19
- Prices for ex-lease vehicles (+5.9%) and repossessed vehicles (+7.1%) saw strong increases this past week
- Clearance rates also increased, particularly for repossessed vehicles
- Sales volume dropped from last week, reflecting market feedback regarding lack of supply
- Sales volume for repossessions increased (+25.3%), although this was from a low base due to COVID-19
- Prices for most vehicles saw an increase
- Passenger vehicles, which are featuring less overall as volume sellers, saw the strongest overall increase
- Feedback still coming through from market participants that there is a shortage of used car stock
By Tanim Ahmed, Head of Product at Datium Insights
Tanim is a Macquarie University alumni with degrees in Finance and Economics. He has spent a decade in the Leasing and Finance industry, specializing in Residual Value risk.
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