Wednesday, 01 October 2014

Eco-conscious buyers push Prius sales

Toyota’s Prius tops the Glass’s league of fastest selling used cars during August, taking an average of just 25 days to find a buyer

This environmentally friendly favourite, whose hybrid technology has proved to be cost-effective and reliable, leads a family-orientated top 10 that contains five compact SUVs - reinforcing that sector’s trend for increased sales during the summer months.

Glass’s league of fastest selling used cars – best performing

Manufacturer Model Average selling time (days)

Toyota Prius 25.0

Chevrolet Orlando 27.2

Ford Focus 27.3

Vauxhall Zafira 31.7

Land Rover Evoque 31.7

BMW 1 Series 33.7

Peugeot 307 33.8

Honda FR-V 34.0

Citroen Nemo 34.6

Ford Grand C-Max 34.9

Other patterns noted by Glass’s Head of Valuations, Rupert Pontin, include the almost complete absence of the big three German brands from the top 10 - except for the BMW 1 Series. ‘This is interesting, as it usually doesn’t make the top cut. Its appearance may be due to a reduction of the number in the trade at present.’

He also singled out the Land Rover Evoque for comment. ‘The demand for this car is phenomenal in both the new and used car markets. Used examples are hard to find in the trade and they sell quickly all year round.’

He noted that although the peak of the open-topped motoring season is over, Peugeot’s 307 and Ford’s Focus are still in the top 10. ‘Stylish and practical, these tin-top convertibles offer great value for money. While neither of them set the new car market alight, from a used car perspective they are very popular indeed.’

The average selling price of cars in August’s top 10 is £11,572, which contrasts with £14,270 for the 10 slowest sellers. Slowest of all is the Mercedes-Benz CL-Class luxury sports car, which has been lingering on forecourts for over 91 days on average. ‘This is a surprise in some respects,’ said Rupert, ‘as they are often considered to be summer fun cars - although high running costs and purchase prices could be the reason for poor performance.’

Glass’s league of fastest selling used cars – worst performing

Manufacturer Model Average selling time (days)

Vauxhall Adam 70.9

Vauxhall Cascada 71.1

Skoda Rapid Spaceback 74.2

Subaru Forester 74.7

Skoda Rapid 75.9

Mitsubishi Mirage 76.1

MINI Mini Paceman 76.2

Nissan Micra 76.4

Renault Scenic 83.5

Mercedes-Benz CL-Class 91.5

Among other surprises for Rupert Pontin is the presence of a convertible in the league’s lower reaches. ‘If ever there was a time for Vauxhall’s Cascada to rise out of the bottom 10, this would be it! But no such luck… and the question is, what will Vauxhall have to do to find buyers for this car? The same goes for Vauxhall’s Adam, whose uninspiring looks and confusing model offerings, with an excess of personalisation, are the key to low demand from used buyers.’

He believes the most likely explanation for seeing both the Rapid and the Rapid Spaceback from Skoda in the bottom 10 is that the company is looking to achieve a high retail price for a ‘new model’. However, he also feels that the cars are slightly misunderstood and that buyers tend to see the Rapid as confusing when compared to the existing Octavia which itself is such a cost-effective family car.

Meanwhile, the Renault Scenic, once a very popular family car, has been unable to rally even in the top-selling month for compact SUVs. ‘It seems to have hit rock bottom, and this has to be driven by reliability,’ Rupert explained: ‘As for the unexpected sight of the Nissan Micra among the slowest sellers, look to volume for the answer. There are just too many of these in the used car market right now.’