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Used Car Market Picks Up Pace as VIC Edges NSW

Compiled by ADME Newsroom from 1 source

First reported by AADA · 9 September at 9:35 am

Who's covering this — 1 article

Industry trade: 1

Image: AADA

The quick read

Full coverage

AADAIndustry trade9 September at 9:35 am

Used Car Market Picks Up Pace as VIC Edges NSW

Key Headlines National used and demonstrator vehicle sales rose 1.3 per cent in August to 243,514 vehicles, the second consecutive monthly increase. Sales of one-to-five-year-old used vehicles…

Read at AADA →

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← Newsroom/Sales & market

Used Car Market Picks Up Pace as VIC Edges NSW

Compiled by ADME Newsroom from 1 source

First reported by AADA · 9 September at 9:35 am

Who's covering this — 1 article

Industry trade: 1

Image: AADA

The quick read

National used and demonstrator vehicle sales rose 1.3 per cent in August to 243,514 vehicles.
Sales of one-to-five-year-old used vehicles are driving the market's growth.
Victoria has edged out New South Wales in used car sales.
The used car market has experienced its second consecutive monthly increase.

For dealers: Australian dealers must adapt their stock management and pricing strategies to capitalize on the growing demand for one-to-five-year-old used vehicles.

AI-assisted summary of the coverage below — check the original reporting before relying on specifics.

ADME commentary

The ADME angle

The used car market's second consecutive monthly increase has significant implications for Australian dealers, particularly in terms of stock management and pricing strategies.

Market Trends

The 1.3 per cent rise in national used and demonstrator vehicle sales in August indicates a shift in consumer behaviour, with buyers opting for newer used vehicles, specifically one-to-five-year-old models.

This trend suggests that dealers should focus on stocking and promoting these in-demand vehicles to meet customer needs and stay competitive.

Competitor Response

Dealers in Victoria, which has edged out New South Wales in used car sales, should be prepared to respond to competitor pricing and marketing strategies to maintain their market share.

The fact that sales have increased for two consecutive months indicates a level of stability in the market, allowing dealers to make more informed decisions about stock and pricing.

Actionable Insights

Dealers can take advantage of this trend by reviewing their current stock and adjusting their pricing and marketing strategies to focus on one-to-five-year-old used vehicles, which are in high demand.

By doing so, dealers can increase sales and revenue, particularly in states like Victoria where the used car market is thriving.

This week, dealers can take decisive action by conducting a thorough review of their stock and identifying opportunities to acquire and promote more one-to-five-year-old used vehicles.

Go deeper — ADME analysis

The quick read

Full coverage

AADAIndustry trade9 September at 9:35 am

Used Car Market Picks Up Pace as VIC Edges NSW

Key Headlines National used and demonstrator vehicle sales rose 1.3 per cent in August to 243,514 vehicles, the second consecutive monthly increase. Sales of one-to-five-year-old used vehicles…

Read at AADA →