June Sees Used Car Prices Up By Impressive 11%

Used car prices are continuing to rise as record levels of demand carry on into the summer, with June recording a year-on-year and like-for-like 11.1% increase.

The Auto Trader Retail Price Index has revealed that the average price for a second hand car in June was £14,276, just over £300 more than the previous month, with huge customer demand causing the surge. More good news for dealers is that new stock has been flying off the forecourts recently, with vehicles lasting an average of just 23 days before being sold.

Auto Trader have also reported an increase in dealerships making positive price adjustments, with 37% increasing sticker prices in the last week of June, and this percentage is already expected to have been topped at the start of July.

With increased demand and quicker stock turn, simplifying the process of creating, managing and advertising stock provides staff with more time to speak to customers and increase sales.

Dealers can benefit hugely from having a comprehensive dealer management system in place, allowing your whole business to be run from a single platform, as opposed to switching between different systems and inputting the same details over and over again.

The DragonDMS dealer management system has the added benefit of a live feed with Auto Trader, allowing car dealers to instantly update their advertised stock and receive current adjusted valuations for their vehicles, making it ideal for the current used car market and keeping on top of the change in prices.

Dragon2000 have been helping dealers and garages drive their businesses forward since 1995. Talk to our team today on 01327 222 333 or email sales@dragon2000.co.uk to find out how our dealer management system, car dealer websites and mobile apps can help your business increase profits and reduce costs.