March 2024 marked a notable trend in the used car market with small, medium, and large SUVs leading the sales, particularly in electric vehicle (EV) models. According to the latest data from Motors, nine out of the top ten fastest-selling used cars belonged to the SUV category, reflecting a robust consumer preference for this vehicle type in the motor trade.

The Audi e-tron topped the list as the fastest-selling second-hand car, being sold in just 10.8 days on average. This performance underscores the growing market appetite for premium electric vehicles. Audi was a prominent player in March, with its models—the Q5, Q4, and Q2—also appearing on the top ten list, collectively representing 40% of the fastest-selling cars.

The data reveals that March was the quickest month for used car sales in the first quarter of 2024, with Motors' marketing director, Lucy Tugby, attributing this to the downward realignment of EV prices. This adjustment has reportedly made EVs more accessible and appealing, especially models from premium brands like Audi and Polestar. The Polestar 2, another fully electric model, followed closely behind the e-tron with an average selling time of 11.4 days.

Interestingly, despite a significant price increase of 11% in late-plate models, Volvo's C40 EV also featured on the list, taking an average of 15.2 days to sell. This indicates a sustained interest in Volvo’s electric offerings, even amid price hikes.

The overall market performance for used cars was notably quicker in March with an average stock duration of 35 days, suggesting a robust month for sales in the sector. Motors’ “Market View” analysis highlighted that the top ten fastest sellers significantly outperformed the wider market, a testament to the strong demand for specific models, particularly SUVs and EVs.

This shift towards electric SUVs and the performance of these models in the used car market suggest a crucial trend that dealerships can leverage to sell more cars by aligning their offerings with consumer preferences for eco-friendly and versatile vehicle options.

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