Younger, cheaper, better stock expected by car dealers in 2024

Dealers are expecting to be able to buy younger, cheaper, better stock in 2024, according to October’s new Startline Used Car Tracker.

The new research shows that 63% say the condition of cars available will improve, 60% that they will be newer and 57% that prices will be lower.

In addition, improved availability of cars of all ages is being forecasted, with 47% saying that supply will improve for 1-3 year old models, 62% for 4-7 years and 58% for eight years and over.

Paul Burgess, CEO at Startline Motor Finance, said: “In last month’s Tracker, we already recorded an increased level of dealer optimism about 2024 and the picture that is painted here about stock availability reflects that upbeat mindset. It’s clear that new car supply is easing, which is having a knock-on effect in the used market, and dealers expect this to have a positive effect on all aspects of stock supply next year.

“They anticipate retailing lower cost, younger cars in better condition. Whether the real world supply can tick all of these boxes is perhaps open to question but what this perhaps really indicates is that retailers think the worst of the stock shortages we have seen in recent years are over.”

Overall, 63% say that stock supply will improve % and 67% plan to stock more electric vehicles (EVs) in 2024.

Paul added: “Despite the 2035 deadline delay by the government, electrification is going to continue at a rapid pace and it is clear that the majority of dealers expect to have more EVs on their forecourts.”

The Startline Used Car Tracker is compiled monthly for Startline Motor Finance by APD Global Research, well-known in the motor industry for their business intelligence reporting and customer experience programs. This time, 336 consumers and 60 dealers were questioned.

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