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CarGurus UK Vehicle Availability Index & Insights report – March 2022

Posted by Kevin Roberts on April 6, 2022

The UK market saw a shift in March that was contrary to North American markets, with inventory levels improving for used, but due to an increase in inventory below the average listing price instead of above it.

The UK Used Vehicle Availability Index increased by 7.7% from February, with levels now closely on par with 2020, although total inventory levels remain below pre-Covid levels. Interestingly, in March, the source of these inventory gains was vehicles priced £10k – £20k, helping to reduce the average listing price by 0.9% from February – however, levels remain up 34.7% compared to last year. Finally, days-on-market declined 6.5% in March, and while the year-over-year levels look stark at a decline of 30.7%, the comparison to 2020 is relatively better at down 12.1%. Vehicles are sitting for less time, but the comparison time frame will become more important as we come out of Covid-impacted numbers.

With this shift in inventory, we could potentially start to see a return to normal seasonal trends – however, with continued exogenous shocks impacting the automotive industry, there are likely to be further disruptions on the path towards a ‘new normal’.

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

Topics: industry insights, trends, used vehicles, vehicle availability