{"id":329,"date":"2020-04-08T16:00:10","date_gmt":"2020-04-08T06:00:10","modified":"2020-05-07T14:46:33","type":"post","status":"publish","title":"Top selling used car sales for March 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 March.<\/p>\n\n\n\n

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

The first 2 weeks of March saw increasing sales for the year\nin all segments.<\/p>\n\n\n\n

However, as the Coronavirus pandemic spread across Australia\nand social distancing measures were put in place we recorded a drop in sales\nactivity for the end of March.<\/p>\n\n\n\n

Demand has reduced with buyers reluctant to transact and\nsellers have also tightened release of stock to protect returns<\/p>\n\n\n\n

With federal and state governments announcing the current measures may stay in place for several months we expect subdued sales activity to continue for at least the next quarter.<\/p>\n\n\n\n

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

With buyer activity now in a depressed state, mainstay\nvehicles are seeing the most activity in the market. The Camry, Ranger and\nHilux are selling far more easily in the market largely to their common use\nwithin trade industries.<\/p>\n\n\n\n

\"\"<\/a><\/figure><\/div>\n\n\n\n

As we head into the remainder of the year we are likely to\nsee price reductions which will bring more balance to the market.<\/p>\n\n\n\n

Sales of less common makes and models are struggling to find traction in current market conditions.<\/p>\n\n\n\n

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

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

As expected we\u2019ve seen significant reductions this month due\nto the Coronavirus pandemic. All segments have been affected however the light\ncommercial segment has held up remarkably well in comparison. This is largely\ndue to their importance to trade industries and essential services that still\nneed to run despite social distancing measures being in place.<\/p>\n\n\n\n

SUV\u2019s took the brunt of the decline as buyers trended\ntowards cheaper, older passenger cars as an alternative.<\/p>\n\n\n\n

As we head into April we expect further reductions in supply as well as transactions overall due to tightening conditions in consumer spending and lending.<\/p>\n\n\n\n

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

Looking at individual models, there really hasn\u2019t been any\nwinners. The Isuzu D-max bucked the downward trend but we see this as a once\noff.<\/p>\n\n\n\n

SUV\u2019s such as the Rav4 and Kluger saw the most decline in\nthe market as buyers moved towards smaller, cheaper passenger cars.<\/p>\n\n\n\n

Coupled with the Easter long weekend, as we head into April we expect further decline.<\/p>\n\n\n\n

\"Month
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 seen significant decline across the\nboard.<\/p>\n\n\n\n

The past few months we saw SUV sales fare well due to their\nhigh demand but even this segment saw declines in March versus last year.<\/p>\n\n\n\n

Traditionally, April is a slower month due to a number of public holidays in the larger states around the country. Coupled with the Coronavirus pandemic we expect substantial decline in activity in the market place in April.<\/p>\n\n\n\n

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

It\u2019s a similar story looking at individual makes as no brand\ncame out a winner. Even though the Nissan Qashqai bucked the trend we see this\nas a once off for the month.<\/p>\n\n\n\n

Even though some of the large volume sellers look to have seen the most decline, on a percentage basis they are faring better than some of the more niche and uncommon brands. <\/p>\n\n\n\n

For the remainder of the year we expect most of the focus to be on mainstay vehicles like the Ranger, Hilux, Camry as well as small hatchbacks. We expect buyer activity from essential services as well as greater interest in smaller, cheaper vehicles to direct demand towards these areas of the market most. <\/p>\n\n\n\n

\"Year
Year on year 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":"News","link":"https:\/\/pricespeoplepay.com.au\/blog\/top-selling-used-car-sales-for-march-2020\/","image":"https:\/\/pricespeoplepay.com.au\/blog\/wp-content\/uploads\/2020\/04\/alexander-popov-Xbh_OGLRfUM-unsplash.jpg","author":"Tanim Ahmed","categories_list":"News<\/a>"}