{"id":256,"date":"2020-02-17T11:31:54","date_gmt":"2020-02-17T00:31:54","modified":"2020-03-13T15:55:53","type":"post","status":"publish","title":"Top selling used car sales for January 2020","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 January.<\/p>\n\n\n\n

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

Passenger vehicles still lead the way in volume of sales and\nwe\u2019ve observed an increase for January. December generally sees a decline in\nstock due to the holiday season, so it\u2019s no surprise seeing this supply increase.\n<\/p>\n\n\n\n

As sales of passenger vehicles decline in the new car market\nwe expect to see people in the used car market turn them over as well to\nprocure SUV\u2019s and Light Commercials. This may explain some of the increased\nsales of passenger vehicles we saw however we expect the ongoing trend to be a\nsteady decline.<\/p>\n\n\n\n

SUV\u2019s have also seen a marked increase in sales, with light commercials seeing some decline. With fleets and businesses looking to extend the life of their trade vehicles we expect the volume of light commercials to remain suppressed for the medium term.<\/p>\n\n\n\n

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

Looking at individual models, the Toyota Camry retains the\nlead in January. Toyota continues to dominate the used car sales market with 4 of\nthe top 5 most common sellers being Toyota badged. While the Camry, Hilux and\nCorolla stay firm in the top 3 spots the Ranger and Rav4 round out the remaining\n2 spots. The Ranger has seen a little decline in stock however we expect this\nto increase in the coming months.<\/p>\n\n\n\n

SUV\u2019s and commercial vehicles dominate the list this month alongside a small of passenger cars, mainly hatchbacks. As fewer passenger vehicles enter the used car supply we expect the list to continue being dominated by SUV\u2019s in particular.<\/p>\n\n\n\n

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

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

We expected a large increase in supply in January which took place with all segments seeing an upswing. As we move into 2020 we expect supply overall to steadily increase as businesses re-open following the end of the holiday period in December.<\/p>\n\n\n\n

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

Looking at individual models, there\u2019s unsurprisingly more increasing\nmovements in supply across the board. Toyota has dominated most of the\nincreasing stock with the Camry, Kluger, Corolla and Hilux seeing the largest\nincrease in stock from last month.<\/p>\n\n\n\n

Interestingly the Audi Q5 saw a significant bump in January\nhowever we expect this to be a one off with supply petering out in the coming months.<\/p>\n\n\n\n

While the Commodore, Territory and Captiva still seem to be selling in some numbers we also expect stock of these vehicles to dwindle due to the end of their production over the past few years.<\/p>\n\n\n\n

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

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

Year-on-Year we\u2019ve actually seen a reduction in sales overall\nfor January, driven by a drop in Light Commercials. Due to the economic climate\nit\u2019s likely more businesses are holding onto their current trade vehicles as\nopposed to turning them over for new ones.<\/p>\n\n\n\n

The reduction in new car sales over the past 18 months is also continuing 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 and we\u2019ve seen that in the used car market in January.<\/p>\n\n\n\n

\"Year<\/figure>\n\n\n\n

Compared to last year we\u2019ve generally seen increases in\npassenger and SUV models like the Camry, Golf and Rav4. Conversely, light\ncommercials like the Hilux and Ranger have seen a decline, most likely due to\ncurrent economic conditions affecting businesses.<\/p>\n\n\n\n

Going into 2020 we expect supply for SUV\u2019s and Light Commercials to gradually pick up as businesses begin to spend capital and turnover their vehicles.<\/p>\n\n\n\n

\"Year
Year on year swings of vehicle models<\/figcaption><\/figure>\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-january-2020\/","image":"https:\/\/pricespeoplepay.com.au\/blog\/wp-content\/uploads\/2019\/09\/autos-technology-vw-multi-storey-car-park-63294.jpeg","author":"Tanim Ahmed","categories_list":"Knowledge<\/a>"}