The sturdy demand tracked all through H1 on Supplier Public sale’s platform continued into Q3. Complete estimated commerce revenue rose from £2.6 million to £3.5 million within the three-month interval from July to September 2024.
Kieran TeeBoon, Supplier Public sale’s market director, mentioned: “Q3 noticed optimistic trade-to-trade exercise on the Supplier Public sale platform – demand is powerful, vehicles are promoting faster and we’re seeing extra bids.
“This is indicative of the quick and decisive action from used car dealers, who are using all the tools at their disposal to boost their bottom line.”
The platform’s days to promote complete mark is round 4 days. Sellers positioned virtually 235,322 bids on inventory.
There was a slight fall in common offered worth (£5,988 vs £6,089), regardless of inventory being the same age (9 years vs 9.2 years) and carrying comparable mileage across the 75,000 mark. CAP clear efficiency rose to 102% (100% in Q2).
AFVs signify a small proportion of the autos however Q3 noticed diesel lose a slim margin (falling from 43% to 40.74%) to hybrid (rising from 3.2% to 4.06%).
TeeBoon mentioned: “We’ve despatched out over 3.2 million alerts this quarter, matching the proper inventory to the proper patrons. Our CAP clear efficiency remained – underlining how we proceed to ship sturdy efficiency for sellers.
“Although there was a fall in the number of auctions ending and average sold price, this was expected for this time of year. The key takeaway for Q3 is: profit up, confidence high!”
