{"id":278,"date":"2020-03-16T08:00:34","date_gmt":"2020-03-15T21:00:34","modified":"2020-03-13T16:21:19","type":"post","status":"publish","title":"Top selling used car sales for February 2020","content":"\n

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

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

Passenger vehicles still lead the way in volume of sales with\nFebruary being a shorter month we\u2019ve seen a reduction in stock available. <\/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. In February we\u2019ve seen the gap between stock of passenger and\nSUV vehicles narrow. Moving forward we expect this occurrence to become more\ncommon<\/p>\n\n\n\n

Light commercials continue to see 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 February. Toyota continues to dominate the used car sales market with 4\nof the top 5 most common sellers being Toyota badged. While the Camry and Hilux\nstay firm in the top 2 spots the Ranger, Corolla and Rav4 round out the\nremaining 3 spots.<\/p>\n\n\n\n

SUV\u2019s and commercial vehicles dominate the list this month alongside a small batch 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 decrease in supply in February which took place with all segments seeing a downswing. As we move into 2020 we usually expect supply overall to steadily increase as businesses re-open following the end of the holiday period in January. However, with the current state of the economy this may be dampened this year.<\/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 decreasing\nmovements in supply across the board. Toyota has dominated most of the decreasing\nstock with the Camry, Corolla and Hilux seeing the largest decreases in stock\nfrom last month.<\/p>\n\n\n\n

Interestingly the Suzuki saw a significant bump in February\nhowever we expect this to be a one off with supply petering out in the coming\nmonths.<\/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 February, driven by a drop in Light Commercials. Due to the economic\nclimate it\u2019s likely more businesses are holding onto their current trade\nvehicles as opposed 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 some of that flowing into the used car market in February.<\/p>\n\n\n\n

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

Compared to last year we\u2019ve generally seen increases in\npassenger and SUV models like the i30, Golf and Tiguan. 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\nPeople Pay, we analyse new data that our\ncomprehensive used car price database has collected, to provide you the latest\ninsights into the used \u2026","category":"News","link":"https:\/\/pricespeoplepay.com.au\/blog\/top-selling-used-car-sales-for-february-2020\/","image":"https:\/\/pricespeoplepay.com.au\/blog\/wp-content\/uploads\/2020\/03\/haidan-XcKeOMDXM5U-unsplash-1024x683.jpg","author":"Tanim Ahmed","categories_list":"News<\/a>"}