Peugeot 3008 Tops UK Market As Fastest Selling Used Car

The Peugeot 3008 has emerged as the UK's fastest-selling used car, with an average selling time of just 12 days. This figure is notably quicker than the national average, particularly for the petrol-hybrid variant of the SUV, which is being purchased two weeks faster. As of April, the average duration for used cars to be sold across the UK stood at 26 days, marking a slight improvement from the previous year by one day. This rate of sales is the second quickest ever recorded by Auto Trader, highlighting a robust demand for used cars.

Auto Trader, a leading data source in this sector, reported a record-breaking 89.1 million cross-platform visits in March. This surge in interest underscores the growing consumer appetite for used vehicles, especially hybrids, which are now the fastest-selling fuel type, taking an average of 24 days to sell. The popularity of hybrid vehicles is on a significant rise, with views and searches for these cars increasing by 55% year-on-year.

Following hybrids, used petrol cars are next in line, taking an average of 25 days to sell. Diesel vehicles lag slightly behind at 28 days, with electric cars taking around 29 days to sell. However, electric vehicles (EVs) aged between three to five years are selling as quickly as hybrids, averaging just 24 days on the market. The demand for used electric cars has seen a remarkable 59% year-on-year increase, outstripping the growth in demand for petrol and diesel vehicles.

Interestingly, within the used car market, vehicles aged between 10 to 15 years are taking the longest to sell, with an average of 32 days. In contrast, cars aged three to five years are being snapped up in just 24 days. When it comes to the type of cars selling fastest, volume cars lead the way with an average selling time of 25 days, while premium brands take slightly longer at 28 days.

Richard Walker, Auto Trader's Data & Insights Director, commented on these findings by stating that the quick turnover of used cars is a positive indicator of the market's health. He advised retailers to delve into these insights to better navigate the market and pinpoint profitable opportunities for their businesses.

Auto Trader stands as the UK's largest automotive marketplace and is dedicated to fostering a diverse and inclusive culture. The company also promotes environmentally friendly vehicle choices and publishes a monthly used car Retail Price Index. This index contributes to broader UK economic indicators used by entities such as the Bank of England.