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CarGurus UK Vehicle Availability Index & Insights Report – June 2022

Posted by Kevin Roberts on July 8, 2022

As we reach the midpoint of the year, the UK remains an outlier in the used vehicle market, especially compared to the US and Canada.

Used vehicle inventory declined 2.3% from last month, which runs counter to most regions which are seeing used inventory increase as prices reach historic highs. Why did used inventory decline? Likely due to a continued drop in used vehicle prices that are comparatively lower compared to other markets on a two-year basis (UK is up 28.5% while US is up 58%). For June, UK prices on average dropped due to a decline in vehicles priced above £20k. Finally, days-on-market did rise slightly by 2.7% in June as certain vehicles sat on market for longer.

While uncertainty continues to exist in the vehicle market, the UK used market looks to be in a relatively better position than other markets.

To learn more about the trends impacting vehicle inventory, download the June 2022 edition of the CarGurus UK Vehicle Availability Index & Insights Report.   

Topics: industry insights, inventory, stock, used vehicles, vehicle availability