{"id":347,"date":"2020-05-07T14:46:03","date_gmt":"2020-05-07T04:46:03","modified":"2020-06-23T10:59:08","type":"post","status":"publish","title":"Top selling used car sales for April 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 April.<\/p>\n\n\n\n

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

April saw a significant decline in supply and transactions\nas social distancing measures restricting activity across the market.<\/p>\n\n\n\n

We saw sales decline by roughly 50% as buyers left the\nmarket due to concerns about the economic environment, with prices also seeing\ndecline.<\/p>\n\n\n\n

Mid-April saw the peak in the downturn, with the last 2\nweeks of April seeing signs of a recovery.<\/p>\n\n\n\n

For the first time in recent history, Light Commercial\nvehicles outsold SUV\u2019s. This is largely due to demand from the trades sector\nwhereas consumer demand for SUV\u2019s was hit stronger.<\/p>\n\n\n\n

As social distancing measures are gradually relaxed across the country we expect transaction activity to also gradually increase followed by a recovery in price.<\/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 Hilux and Ranger are\nselling far more easily in the market largely to their common use within trade\nindustries.<\/p>\n\n\n\n

As we head into the remainder of the year we are likely to\nsee continued softening in prices 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

Passenger and SUV vehicles took the brunt of the decline as\nbuyers left the market. In the latter half of April however we did see a\nrecovery, particularly in SUV\u2019s.<\/p>\n\n\n\n

As we head into May we expect an increase in transactions as built up stock slowly filters through the market. Despite this there is likely to be stressed conditions for the next few months.<\/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 Toyota Camry saw the largest decline however this was off an\nalready high base compared to other vehicles.<\/p>\n\n\n\n

The top 5 was dominated by passenger cars with the Ranger\nthe lone non-passenger vehicle making the list.<\/p>\n\n\n\n

More light commercial made the list this month compared to last, highlighting the continuing strain that businesses are facing.<\/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

Passenger vehicles saw a large decline as demand in this\nsegment dried up.<\/p>\n\n\n\n

As mentioned earlier, we\u2019re seeing signs of recovery in the market with greater participation by buyers. Our expectations are that May will see a recovery of sorts after 2 months of significant market erosion.<\/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. Pretty much ever model saw some decline, with the Toyota\nCamry seeing the largest.<\/p>\n\n\n\n

Even though some of the large volume sellers look to have seen\nthe most decline, on a percentage basis they are faring better than some of the\nmore 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-april-2020\/","image":"https:\/\/pricespeoplepay.com.au\/blog\/wp-content\/uploads\/2019\/09\/blur-car-city-1662570-1024x684.jpg","author":"Tanim Ahmed","categories_list":"News<\/a>"}