Read our latest weekly update on the state of the used car market containing analysis of prices, volume and clearance rates.
- Global Slowdown in Car Trade Fuels Stock Shortages
- Australian Used Car Prices Bounce Back Despite COVID-19: New Datium Insights-Moody’s Analytics Index
- COVID-19 and Used Car Prices
- Are Used Car Prices Dropping?
- Prices were relatively flat this past week (+0.6%)
- Prices for ex-corporations (+3.8%) and repossessed cars (+3.1%) led the way in price increases
- Supply also flat (-0.1%) with ex-corporations (+75.9%) increasing significantly albeit over a small base
- Ex-fleet vehicles saw a strong increase in supply (+5.7%)
- Clearance rates saw a slight increase (+0.8%) to remain at historically high levels
- Prices for top 15 traded vehicles were mixed with the Subaru Forester having the strongest increase (+3%), while the Isuzu D-MAX (-4.5%) and Toyota Hiace (-3.7%) saw weakening
- Feedback from market participants still focused on shortage of stock
- Low new car sales, less repossessions, extensions of fleet leases and declining listings called out by market participants as drivers for stock shortage
- Conversely, superannuation withdrawals, JobKeeper and travel restrictions called out as drivers for price growth
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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