Latest carsales data suggests used car resilience as lockdowns ease
Evidence of a cooling Australian used car market has been put forward by financial intelligence company, Moody’s Analytics.
Moody’s ‘Australian Used-Vehicle Third-Quarter Price Report’ states the segment ‘finally took a breather’, with the first month-on-month used car price drop recorded over August and September 2021.
The company’s Datium Insights-Moody’s Analytics Price Index, which tracks wholesale used car prices, showed prices had fallen by almost five per cent sine a July 2021 peak, though still 11 per cent up on September 2020 and 36 per cent up compared to ‘pre-pandemic’ levels.
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In contrast, carsales internal data showed used listing prices remained strong in August, recording a median used listing price of $28,850 – the highest figure over the last 12 months.
A slight pull-back was seen in September, though the $28,490 median for that month sits comfortably above the $27,412 average recorded over the last 12 months… and is 23.9 per cent up on the previous September’s average.
| Month | Median used listing price |
| September 2020 | $23,000 |
| October 2020 | $23,990 |
| November 2020 | $24,990 |
| December 2020 | $25,000 |
| January 2021 | $25,999 |
| February 2021 | $26,990 |
| March 2021 | $27,990 |
| April 2021 | $28,000 |
| May 2021 | $28,500 |
| June 2021 | $28,490 |
| July 2021 | $28,500 |
| August 2021 | $28,850 |
| September 2021 | $28,490 |
Source: carsales internal data, 2020-21
State by state
South Australia has bucked the stagnation, recording a 1.7 per cent increase in median used car sales from August to September 2021.
Victoria and Tasmania were hardest hit, both recording 3.0 per cent declines. It is worth noting that these two states remain the largest gainers over the last year.
The ACT also dropped off 2.7 per cent month-to-month but retains the third step on the ‘12-month growth’ podium.
All other states remained steady on the monthly change… however all retain double digit growth over the last 12 months, indicating the ride isn’t quite over yet.
| State | September
2020 |
August
2021 |
September
2021 |
% Change
Sep20 – Aug21 |
% Change
Aug21 – Sep21 |
| ACT | $21,990 | $29,800 | $29,000 | +31.9% | -2.7% |
| NSW | $24,000 | $27,999 | $27,990 | +16.6% | 0.0% |
| NT | $27,990 | $31,990 | $31,990 | +14.3% | 0.0% |
| QLD | $23,990 | $27,000 | $26,990 | +12.5% | 0.0% |
| SA | $22,970 | $26,990 | $27,450 | +19.5% | +1.7% |
| TAS | $23,990 | $32,990 | $31,990 | +33.3% | -3.0% |
| VIC | $20,990 | $28,870 | $28,000 | +33.4% | -3.0% |
| WA | $27,490 | $31,988 | $32,000 | +16.4% | 0.0% |
Source: carsales internal data, 2020-21
Cool, but not cold
With ongoing new car supply constraints and an eastern state rush to re-opened showrooms, dealers need to proactively manage their stock positions to ensure a quality used car alternative for those consumers that are unwilling to wait.
The next carsales webinar on 27th October focuses in on supercharging your supply chain and is full of expert tips to ensure your inventory remains highly engaged. Sign up here.
