{"id":196,"date":"2019-11-22T12:10:51","date_gmt":"2019-11-22T01:10:51","modified":"2019-11-26T10:39:38","type":"post","status":"publish","title":"Top selling used car sales for October 2019","content":"\n

Every month at Prices People Pay<\/a>, we analyse new data that our comprehensive used car price database has collected, to provide you the latest insights into the used car market. Here\u2019s our summary for the month of October.<\/p>\n\n\n\n

Top Sellers<\/h2>\n\n\n\n

During the winter period the market generally sees an influx\nof vehicles from the rental car industry, primarily consisting of Passenger and\nSUV vehicles, which adds to the supply. Passenger vehicles remain the primary\nseller in the market for October, followed by SUV\u2019s and Lig0068t Commercials.<\/p>\n\n\n\n

This contrasts with the new car market where SUV\u2019s are the biggest seller, highlighting the new car market trend of diminishing Passenger vehicle sales is still taking time to flow through into the used car market.<\/p>\n\n\n\n

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Total sales per vehicle type<\/figcaption><\/figure><\/div>\n\n\n\n

Looking at individual models, Toyota continues to dominate\nthe used car sales market with 3 of the top 5 most common sellers being Toyota\nbadged. While the Hilux and Ranger stay firm in the top 2 spots (making up the\nmajority of sellers in the light commercial space) the Camry, Corolla and Holden\nCommodore round out the remaining 3 spots.<\/p>\n\n\n\n

There\u2019s been very little change in the order of most popular selling models overall. The only exception is the Ford Territory which has dropped off versus last month. We\u2019ve been expecting this seeing as it was discontinued years ago.<\/p>\n\n\n\n

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Top sales by Model<\/figcaption><\/figure><\/div>\n\n\n\n

Comparing to last month<\/h2>\n\n\n\n

We expected a jump in supply in October which took place, with the largest increase in Passenger vehicles. As we move further into the summer months we expect supply overall to increase month to month as stock rolls off the fleet and rental markets.<\/p>\n\n\n\n

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Month to month swings by Vehicle Type<\/figcaption><\/figure><\/div>\n\n\n\n

Looking at individual models, there\u2019s unsurprisingly more positive movements in supply across the board. There\u2019s been an increase in Camry and Ranger stock being returned from fleet markets as leases begin the turnover process in the summer months. Aside from these two models, most vehicles have seen relatively small changes versus September.<\/p>\n\n\n\n

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Month to month swings by Model<\/figcaption><\/figure><\/div>\n\n\n\n

Comparing to last year<\/h2>\n\n\n\n

Year-on-Year we\u2019ve actually seen a reduction in sales across\nthe board for October, something we saw in September as well. Like September\nthe largest drop was in Passenger vehicles as well, although we also saw larger\nreductions in SUV and Light Commercial segments compared to last month as well.<\/p>\n\n\n\n

The reduction in new car sales over the past 18 months is beginning to have an effect in reducing supply entering the used car market, so we expect supply to decline somewhat gradually over the course of the next 12 months. Passenger vehicles have seen the sharpest decline in new car sales so unsurprisingly we are observing a similar trend in the used car market. <\/p>\n\n\n\n

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Year on year swings of vehicle types <\/figcaption><\/figure><\/div>\n\n\n\n

Similarly, we\u2019re seeing a reflection of activity in the new\ncar market in sales of individual models. Passenger vehicles like the Toyota\nCamry, Toyota Hilux and Holden Cruze have all seen sale numbers reduce compared\nto October last year. <\/p>\n\n\n\n

The Toyota Camry has seen a reduction even though it\u2019s been a strong seller in the new car market, explaining the stronger prices we\u2019ve seen for the Camry over the past few months due to short supply. <\/p>\n\n\n\n

While we\u2019ve seen reductions in sales of SUV\u2019s, some of the greatest reductions have been for the Holden Captiva and Ford Territory which are two models that have been discontinued. With declining stock entering the used car market due to a dampening of new car sales, it\u2019s likely we\u2019ll continue to see strong reductions in passenger vehicles, with potentially some slight increases in SUV and Light Commercial vehicles as consumers veer increasingly towards these models.<\/p>\n\n\n\n

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Month to month swings of vehicle models <\/figcaption><\/figure><\/div>\n\n\n\n

Data Source<\/h3>\n\n\n\n

Prices People Pay sources data exclusively from Datium Insights<\/a>. Feel free to check\nout their products and\nservices<\/a> page for more info.<\/p>\n","excerpt":"\nEvery month at Prices People Pay, we analyse new data that our comprehensive used car price database has collected, to provide you the latest insights \u2026","category":"Knowledge","link":"https:\/\/pricespeoplepay.com.au\/blog\/top-selling-used-car-sales-for-october-2019\/","image":"https:\/\/pricespeoplepay.com.au\/blog\/wp-content\/uploads\/2019\/09\/Untitled-design-83-1024x536.png","author":"Tanim Ahmed","categories_list":"Knowledge<\/a>"}