Read our latest weekly update on the state of the used car market containing analysis of prices, volume and clearance rates.
- Monthly Truck & Equipment Update July 2023
- Monthly Truck & Equipment Update June 2023
- Monthly Truck & Equipment Update May 2023
- Monthly Truck & Equipment Update April 2023
- Prices continue to increase with a 1% gain overall this week
- A major change this week was an increase in supply (+17.9%), after several months of below average volume
- Councils continue to lead this supply rebound (+73.7%) but we’re now seeing finance (+35.5%) and leasing (12.8%+) businesses move back into market
- Light Commercial vehicles dominated this supply rebound (+34.1)
- Even with this increased supply, clearance rates have climbed to levels (+7.8%) unseen in the past 10 years – highlighting the demand in the market
- Prices for the top 15 traded vehicles were generally positive, with only Holden Commodore’s (-3.5%) and Colorado’s (-1.8%) declining – although they had climbed up the past several weeks
- Despite this supply rebound, consensus around the market is there continues to be 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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