Also, the latest Market View from Motors.co.uk shows that independents sold used cars faster and held lower stock levels than their counterparts in the franchised sector.
Stock levels in franchised sites averaged 62 cars, taking 49 days to sell. Independents averaged 46 cars in 46 days, while supermarkets stocked an average of 1,950 cars and averaged just 30 days in stock.
Dermot Kelleher, Motors.co.uk’s director of marketing and business intelligence, said: “Used car forecourts were busy in February with dealers achieving a solid performance of 44 days in stock, compared with the 47 days it was taking them to sell cars in January.
“However, the rise in stock volumes suggests some dealers were carrying extra vehicles with an average of seven additional cars per forecourt, potentially in an attempt to maximise conversions from forecourt visits to sales by ensuring they had more choice.
“While this is clearly good for buyers, some dealers would have been nervous at making the extra investment and will be looking to trade those cars as quickly and profitably as possible.”
50% of used cars for sale were diesels, down from 54% 12 months ago, with petrol growing from 44% to 50%.
Diesels sold faster than they did 12 months ago at an average of 43 days, compared with 56 days last year. Petrol cars averaged 44 days in stock, compared with 42 days a year ago.
