Latest / Motor Trade Radio / 💡 TRADE VALUES SPECIAL: We're joined by Brego's Rupert Pontin for an exclusive sneak preview of October's trade values trends (E66, S12)

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💡 TRADE VALUES SPECIAL: We're joined by Brego's Rupert Pontin for an exclusive sneak preview of October's trade values trends (E66, S12) · Motor Trade Radio

• 0:04
  Speaker: Hello and welcome to this Motor
• 0:06
  Speaker: Trade Radio Trade Value special
• 0:09
  Speaker: with Braigo powered by kazoo
• 0:14
  Speaker: hosted by Philip Nathan and
• 0:16
  Speaker: Curtis Hutchinson.
• 0:24
  Speaker: Thank you for joining us on the
• 0:26
  Speaker: Motor Trade Radio podcast today
• 0:28
  Speaker: we've got our regular monthly
• 0:30
  Speaker: episode looking at the
• 0:32
  Speaker: performance of used car trade
• 0:34
  Speaker: values.
• 0:35
  Speaker: And once again, we're joined by
• 0:36
  Speaker: a friend of the pod, Rupert
• 0:38
  Speaker: Pontin, head of insight and
• 0:40
  Speaker: communication at Braigo, who
• 0:41
  Speaker: will take us through the key
• 0:43
  Speaker: trends that impacted trade
• 0:45
  Speaker: values over the course of
• 0:46
  Speaker: October.
• 0:47
  Speaker: Hello, Rupert.
• 0:48
  Speaker: Good to have you back on the pod.
• 0:51
  Speaker: Hi, Curtis, how are you?
• 0:52
  Speaker: I'm very well, thanks.
• 0:53
  Speaker: Very well indeed.
• 0:54
  Speaker: I can't believe another month has gone around.
• 0:57
  Speaker: And we're talking about the previous month's, Some trade
• 1:01
  Speaker: values already, but I imagine you've had a busy few days
• 1:05
  Speaker: pulling everything together.
• 1:06
  Speaker: Yes I have it's it's time has flown by.
• 1:09
  Speaker: It goes very, very fast at the moment.
• 1:10
  Speaker: I think in part because there's so much going on in the
• 1:13
  Speaker: marketplace and in the auto sector as a whole, really.
• 1:17
  Speaker: But yeah, the last couple of days, pretty, pretty busy
• 1:19
  Speaker: pulling it all together.
• 1:20
  Speaker: I have way more data than I need to talk about today, but it's
• 1:24
  Speaker: better to be prepared than not.
• 1:25
  Speaker: Don't you agree?
• 1:26
  Speaker: Yeah.
• 1:27
  Speaker: We'll drag it all out.
• 1:30
  Speaker: We will drag it out of you.
• 1:32
  Speaker: So as you said, I mean, welcome back on.
• 1:36
  Speaker: We're talking sort of October now.
• 1:38
  Speaker: So we've done September.
• 1:40
  Speaker: We're now talking about October
• 1:41
  Speaker: and probably more the the
• 1:42
  Speaker: aftermaths of what happened in
• 1:44
  Speaker: September and the impact in
• 1:46
  Speaker: October.
• 1:47
  Speaker: So let's, let's get underway.
• 1:49
  Speaker: I mean, talk us through, you
• 1:50
  Speaker: know, the headline figures for
• 1:52
  Speaker: the trade values that you saw in
• 1:54
  Speaker: October.
• 1:55
  Speaker: And, you know, how have they
• 1:56
  Speaker: been trending over over recent
• 1:58
  Speaker: months?
• 1:59
  Speaker: Yeah, well, it's been an interesting month, hasn't it?
• 2:02
  Speaker: There's been lots of stuff going on in the used car marketplace,
• 2:05
  Speaker: and I think that's had multiple impacts on pricing.
• 2:11
  Speaker: Uh, if we look at the market as
• 2:12
  Speaker: a whole this time of year, we
• 2:15
  Speaker: tend to see prices start to
• 2:16
  Speaker: drift off.
• 2:17
  Speaker: And I think that's what's been the case in October so far.
• 2:21
  Speaker: So the data we're looking at is running between the first and
• 2:23
  Speaker: the twenty fourth and is, as you well know, towards the end of
• 2:26
  Speaker: the month, it can get, uh, it can get a little busier.
• 2:30
  Speaker: Um, but the whole market saw a drop of two percent in its
• 2:35
  Speaker: average trade price.
• 2:36
  Speaker: Um, which is for me not necessarily uncommon, as I said,
• 2:40
  Speaker: at this time of year, if we look at the average price overall,
• 2:45
  Speaker: it's fourteen thousand five hundred and seventy five pounds.
• 2:48
  Speaker: And that in comparison with
• 2:51
  Speaker: September, as I say, two percent
• 2:52
  Speaker: lower.
• 2:53
  Speaker: If we look at it year on year, then there is a slight drop.
• 2:58
  Speaker: It's a very similar sort of level.
• 2:59
  Speaker: It's only oh point two percent lower than it was in October
• 3:03
  Speaker: last year for the same period, which I found interesting.
• 3:06
  Speaker: And was it as you expected?
• 3:08
  Speaker: I mean, you know, as you said at the start there, that, you know,
• 3:11
  Speaker: the year on year marginal drop on on last year and we'll
• 3:14
  Speaker: probably get into, you know, why that that was.
• 3:17
  Speaker: But you know, as you say, you
• 3:19
  Speaker: know, we've we've come out of
• 3:20
  Speaker: big September overflow into
• 3:23
  Speaker: October fourth quarter of the
• 3:25
  Speaker: year.
• 3:26
  Speaker: I mean, was this the sort of numbers that you were expecting
• 3:28
  Speaker: to see when you ran the data?
• 3:30
  Speaker: Yeah, I think it probably was.
• 3:32
  Speaker: But the the devil is always in the detail and we'll get to that
• 3:36
  Speaker: a little bit more.
• 3:37
  Speaker: But I think for me, when I was
• 3:39
  Speaker: looking at it by age category, I
• 3:41
  Speaker: was I was quite surprised to see
• 3:42
  Speaker: that actually trade prices at
• 3:45
  Speaker: the older end of the market, um,
• 3:46
  Speaker: at ten years old, they actually
• 3:48
  Speaker: increased by three point four
• 3:49
  Speaker: percent.
• 3:50
  Speaker: Um, but it is very dependent on age.
• 3:53
  Speaker: If you look at vehicles that are under a year, um, they dropped
• 3:57
  Speaker: by four percent.
• 3:59
  Speaker: And I think that is probably.
• 4:01
  Speaker: And I'm sure we'll come on to it in more detail later.
• 4:04
  Speaker: That's probably due to some pre-reg activity.
• 4:07
  Speaker: And Rupert, to give some context
• 4:11
  Speaker: to to our chat in terms of the
• 4:14
  Speaker: number of used cars on sale,
• 4:16
  Speaker: which is I, I know it's
• 4:18
  Speaker: something you look at every
• 4:19
  Speaker: month and you measure it within
• 4:21
  Speaker: your retail advert volumes
• 4:24
  Speaker: analysis.
• 4:25
  Speaker: Um, so as I say, just to give us
• 4:27
  Speaker: some context, how did those
• 4:28
  Speaker: volumes look in October compared
• 4:32
  Speaker: with September and indeed
• 4:33
  Speaker: previous months.
• 4:35
  Speaker: MM. Okay.
• 4:36
  Speaker: So the the volume of adverts
• 4:39
  Speaker: tends to increase at this time
• 4:41
  Speaker: of year.
• 4:41
  Speaker: And that is generally driven by activity in the new plate from
• 4:45
  Speaker: the new plate.
• 4:46
  Speaker: And we did see an increase across the whole market of of
• 4:50
  Speaker: one and a half percent.
• 4:52
  Speaker: Um so on average we were seeing
• 4:55
  Speaker: just just north of eight hundred
• 4:56
  Speaker: thousand vehicles on sale each
• 4:58
  Speaker: day.
• 4:59
  Speaker: Um, so that is in line with what I expected.
• 5:03
  Speaker: It's actually slightly lower than it was this time last year.
• 5:06
  Speaker: Um, so point nine percent lower than in advert volume as it was,
• 5:10
  Speaker: uh, last year.
• 5:11
  Speaker: Um, but the, you know, again, you've got to look at some of
• 5:16
  Speaker: the age bandings where we've seen some significant increases
• 5:19
  Speaker: and I wonder if you can guess which years I'm at what age
• 5:22
  Speaker: vehicles I'm talking about.
• 5:24
  Speaker: Um, well, you already said about the ten year olds going up, so
• 5:28
  Speaker: I'm going to go for those five year old cars, those Covid cars.
• 5:32
  Speaker: So that's interesting.
• 5:33
  Speaker: Actually, we've seen quite an
• 5:35
  Speaker: increase in three year old
• 5:36
  Speaker: vehicles up ten point nine
• 5:38
  Speaker: percent.
• 5:38
  Speaker: And actually that is that volume is um, some nineteen percent up
• 5:44
  Speaker: on the same period last year.
• 5:45
  Speaker: So in October last year, which was interesting.
• 5:48
  Speaker: But of course, the other area, uh, is pre-reg.
• 5:51
  Speaker: Um, and there was an increase
• 5:54
  Speaker: month on month of thirty seven
• 5:56
  Speaker: and a half percent in Pre-reg
• 5:57
  Speaker: adverts.
• 5:58
  Speaker: So you think that um, obviously,
• 6:01
  Speaker: I mean you talk about the
• 6:02
  Speaker: increase in three year old that
• 6:04
  Speaker: that's you know that was now
• 6:06
  Speaker: think about it now in sort of
• 6:07
  Speaker: end of twenty twenty six, that
• 6:08
  Speaker: was kind of that bounce back
• 6:10
  Speaker: period.
• 6:11
  Speaker: Once after the shortage of, of
• 6:13
  Speaker: availability of product, that
• 6:15
  Speaker: production started to pick up a
• 6:17
  Speaker: little bit.
• 6:17
  Speaker: So that's kind of when you start thinking of year on year, that's
• 6:20
  Speaker: where you'll start to see a bit of that bounce back, won't you?
• 6:23
  Speaker: I think you're right in part.
• 6:24
  Speaker: I think the other piece that's taking place at the moment is
• 6:28
  Speaker: that fleets are changing vehicles with the new plate.
• 6:31
  Speaker: Um, and I think that there's been quite a thump of the sort
• 6:36
  Speaker: of fleet volume come into the marketplace, uh, which, you
• 6:39
  Speaker: know, is, is to be expected at this time of year.
• 6:42
  Speaker: Uh, the interesting thing is watching, um, what of course
• 6:46
  Speaker: they buy as a replacement for that, but, uh, yeah, so I think
• 6:51
  Speaker: that's probably probably right.
• 6:53
  Speaker: Philip.
• 6:53
  Speaker: Yeah.
• 6:54
  Speaker: And I mean, we'll dig into the
• 6:55
  Speaker: pre-reg discussion after the
• 6:57
  Speaker: break.
• 6:57
  Speaker: But I think, you know, thinking about October and thinking
• 7:01
  Speaker: about, you know, what's been happening in October.
• 7:03
  Speaker: And you mentioned that some of
• 7:04
  Speaker: that older plate stuff, we're
• 7:05
  Speaker: going to talk after the break
• 7:06
  Speaker: about the Pre-reg and what that
• 7:08
  Speaker: does to that nearly new
• 7:09
  Speaker: marketplace.
• 7:11
  Speaker: What did you see in October by,
• 7:13
  Speaker: you know, thinking about fuel
• 7:14
  Speaker: type performance sector and age
• 7:16
  Speaker: profiles, you know, that, you
• 7:18
  Speaker: know, what's happening with like
• 7:19
  Speaker: MPV, SUV, that kind of sectors
• 7:23
  Speaker: in October.
• 7:25
  Speaker: Well, for looking at market sector, the biggest shift has
• 7:29
  Speaker: been actually you nailed it there SUV medium.
• 7:33
  Speaker: And in terms of adverts we saw an increase of two and a half
• 7:36
  Speaker: percent over the volume of cars being advertised in September.
• 7:39
  Speaker: Um, so that to me indicates a
• 7:41
  Speaker: little bit that we've seen, uh,
• 7:43
  Speaker: some activity perhaps in the
• 7:45
  Speaker: family marketplace.
• 7:46
  Speaker: Um, and those cars have churned back into, uh, retail adverts.
• 7:51
  Speaker: The other area we saw a growth was uh, prestige, lower medium.
• 7:56
  Speaker: Um, and uh, that was again two point four percent there.
• 8:01
  Speaker: Uh, and I'm not sure if you've a view on why you feel that is
• 8:03
  Speaker: because I was a little bit stumped as to why that would
• 8:06
  Speaker: have been the case.
• 8:08
  Speaker: No, I mean, yeah, I mean, this is the thing, isn't it, that I
• 8:10
  Speaker: think at the minute, it's how these vehicles are being
• 8:14
  Speaker: categorised in terms of each of the sector and what volumes
• 8:18
  Speaker: being driven through through that marketplace now.
• 8:20
  Speaker: And as you say there, I think
• 8:22
  Speaker: the the fleet sector, the
• 8:24
  Speaker: benefit in kind that company car
• 8:26
  Speaker: is, is really been driving that
• 8:28
  Speaker: volume over the last several
• 8:29
  Speaker: years.
• 8:30
  Speaker: That was the conclusion that I came to, you know, tying up with
• 8:33
  Speaker: what we were saying a few moments ago that it was X fleet,
• 8:37
  Speaker: three year old product.
• 8:38
  Speaker: It could well be that these this is a reflection of that activity
• 8:43
  Speaker: because, you know, fleets have a lot of prestige lower cars on,
• 8:46
  Speaker: on their books.
• 8:48
  Speaker: And the one thing that did surprise me, which was a little
• 8:51
  Speaker: bit out of character, is the.
• 8:54
  Speaker: There was a drop of one point eight percent in the number of
• 8:56
  Speaker: small cars being advertised, so I felt that was perhaps because
• 9:02
  Speaker: of an uplift in sales.
• 9:03
  Speaker: And I can confirm that in just a
• 9:04
  Speaker: second when I flick screens on
• 9:06
  Speaker: the data.
• 9:07
  Speaker: But, um, the volume of, uh,
• 9:09
  Speaker: small cars in market is in
• 9:12
  Speaker: September, sorry, in October
• 9:15
  Speaker: down one point eight percent, as
• 9:16
  Speaker: I said, but seventeen percent
• 9:18
  Speaker: lower than it was this time last
• 9:19
  Speaker: year.
• 9:20
  Speaker: Now, that is quite a surprising trend for me, and that requires
• 9:25
  Speaker: a little bit more exploration, if I'm honest with you.
• 9:28
  Speaker: Do you think that could be,
• 9:29
  Speaker: again, a Covid production
• 9:32
  Speaker: impact?
• 9:33
  Speaker: Because we know that through the pandemic period, it depends on
• 9:37
  Speaker: the age profile that you see in that that shift.
• 9:39
  Speaker: But through the pandemic period, a lot of manufacturers moved
• 9:42
  Speaker: away from the small car market because it was not profitable.
• 9:46
  Speaker: They didn't have the availability of the supply chain
• 9:49
  Speaker: and parts, etc., and very much moved into the larger, more,
• 9:53
  Speaker: more profitable marketplace.
• 9:55
  Speaker: And I don't know, is it is it that you know, is that again, a
• 10:00
  Speaker: consequence of that?
• 10:01
  Speaker: Or is it that, you know, a
• 10:03
  Speaker: consequence of the EV market,
• 10:05
  Speaker: etc.?
• 10:05
  Speaker: I'm not so sure.
• 10:07
  Speaker: I don't think it's necessarily the EV market.
• 10:08
  Speaker: I'm just racking my brains
• 10:09
  Speaker: trying to remember when Ford
• 10:11
  Speaker: stopped production of the
• 10:12
  Speaker: Fiesta, actually.
• 10:13
  Speaker: Yes.
• 10:14
  Speaker: Because if that if that was
• 10:16
  Speaker: three years ago, then that would
• 10:17
  Speaker: explain why there are less of
• 10:18
  Speaker: those about.
• 10:19
  Speaker: Because of course they moved production really onto the Puma,
• 10:22
  Speaker: didn't they, which was more profitable for them, but
• 10:24
  Speaker: obviously a different classification of car.
• 10:27
  Speaker: Yeah, I think it was about three years ago.
• 10:29
  Speaker: Rupert.
• 10:30
  Speaker: Yeah, yeah.
• 10:31
  Speaker: It feels like that because I
• 10:32
  Speaker: mean, it was I mean, you think
• 10:33
  Speaker: about the volume that the Ford
• 10:34
  Speaker: Fiesta did in the market, not
• 10:36
  Speaker: just new, but through that used
• 10:38
  Speaker: car market.
• 10:39
  Speaker: I mean it was a big volume player.
• 10:40
  Speaker: Yeah, yeah it was it was the primary car.
• 10:43
  Speaker: And you can still see that in when you look at sales at older
• 10:47
  Speaker: ages, they're often the fastest sellers or the best sellers.
• 10:51
  Speaker: Um, but that is because there's so many market.
• 10:54
  Speaker: Well, we'll be back after this
• 10:55
  Speaker: brief break with more from
• 10:56
  Speaker: Borrego on trade values from
• 10:59
  Speaker: Rupert.
• 11:01
  Speaker: You're listening to a motor trade radio trade value special
• 11:05
  Speaker: with Braigo powered by kazoo.
• 11:09
  Speaker: So welcome back to our exclusive
• 11:11
  Speaker: first look at logos trade values
• 11:13
  Speaker: for October.
• 11:15
  Speaker: So, um, one of the key questions that we put to you every month
• 11:20
  Speaker: is, uh, around fuel types.
• 11:22
  Speaker: So what trends did you see by fuel type in October?
• 11:28
  Speaker: Yeah.
• 11:28
  Speaker: So the fuel type is very important at the moment.
• 11:31
  Speaker: Very relevant from the point of view of, uh, changes in market
• 11:36
  Speaker: by fuel type.
• 11:37
  Speaker: We saw quite a bit of activity around diesel cars.
• 11:41
  Speaker: And there's quite a lot of
• 11:42
  Speaker: discussion around, um, the cost
• 11:44
  Speaker: of fuel and diesel at the
• 11:46
  Speaker: moment.
• 11:47
  Speaker: Um, particularly as, you know, topping two pounds a litre.
• 11:50
  Speaker: And I think my perspective on it was that we might actually see a
• 11:54
  Speaker: bit of a bounce back in demand for the diesel product.
• 11:57
  Speaker: Yes, it's more expensive to fuel the car, but we are still in a
• 12:01
  Speaker: position where consumers are worried about costs.
• 12:04
  Speaker: And as a result of that, um, you
• 12:07
  Speaker: know, having a car that will do
• 12:08
  Speaker: fifty five, sixty, sixty five
• 12:10
  Speaker: miles to the gallon is very,
• 12:11
  Speaker: very appealing.
• 12:12
  Speaker: Um, but in terms of trade price, actually, we saw a drop of two
• 12:16
  Speaker: and a half percent for diesel, and we saw an increase of five
• 12:20
  Speaker: and a half percent for, uh, plug in hybrid diesels.
• 12:24
  Speaker: Um, now there aren't many of those out in the marketplace,
• 12:26
  Speaker: but it was interesting to see them take quite a jump.
• 12:30
  Speaker: The other fuel type that we saw, a jumping was plug in hybrids,
• 12:35
  Speaker: and we saw an increase of twelve percent, um, in trade price for
• 12:40
  Speaker: plug in hybrids.
• 12:42
  Speaker: Now that can be affected by the type of product that's actually
• 12:46
  Speaker: being released into the marketplace, but it's still an
• 12:48
  Speaker: interesting trend, I thought.
• 12:50
  Speaker: Yeah, most definitely.
• 12:51
  Speaker: And in terms of we always look at some of the standout
• 12:57
  Speaker: performers in terms of upward and downward movements by model
• 13:01
  Speaker: and by fuel type.
• 13:03
  Speaker: What did you see this month?
• 13:05
  Speaker: So looking at the best sellers in marketplace, um, I'm just
• 13:10
  Speaker: looking through a couple of pages here to find exactly what
• 13:14
  Speaker: I'm talking about.
• 13:15
  Speaker: And the answer to that is that
• 13:18
  Speaker: the best sellers, uh, for, uh,
• 13:22
  Speaker: October were if we're looking at
• 13:25
  Speaker: petrol cars, it was the Vauxhall
• 13:27
  Speaker: Corsa one point two turbo design
• 13:29
  Speaker: model.
• 13:30
  Speaker: Uh, and that took an average of eleven and a half days to sale.
• 13:34
  Speaker: Um, if we're looking at, uh,
• 13:36
  Speaker: electric vehicles, it was a BYD
• 13:39
  Speaker: atto, uh, the BYD atto two, uh,
• 13:41
  Speaker: and that was at nine days to
• 13:43
  Speaker: sale.
• 13:44
  Speaker: Um, so plug in hybrids.
• 13:47
  Speaker: Now this is an indication of the Pre-reg market.
• 13:54
  Speaker: It was the Geely story.
• 13:56
  Speaker: Now, I've only ever seen one of these on the road.
• 13:58
  Speaker: I don't know about you guys.
• 14:00
  Speaker: No, that's a new one on me.
• 14:02
  Speaker: So that's already appearing as a used car?
• 14:04
  Speaker: It is.
• 14:05
  Speaker: And so therefore you have to
• 14:07
  Speaker: accept that that is a you know,
• 14:09
  Speaker: that's a result of pre-reg
• 14:10
  Speaker: activity.
• 14:11
  Speaker: So um, yeah, so fastest sellers
• 14:13
  Speaker: for the whole market in first
• 14:14
  Speaker: place, the BYD oh two second
• 14:17
  Speaker: place, the Renault Symbiosis
• 14:18
  Speaker: estate and third place, the Land
• 14:21
  Speaker: Rover Defender D two fifty x
• 14:23
  Speaker: dynamic h s oh interesting
• 14:26
  Speaker: interesting.
• 14:27
  Speaker: So I mean we touched on it earlier.
• 14:30
  Speaker: You've just touched on it a bit there in terms of pre-reg.
• 14:33
  Speaker: I've been pretty vocal about it in the in the marketplace.
• 14:37
  Speaker: What have you seen?
• 14:39
  Speaker: I mean, you know, we know three
• 14:40
  Speaker: hundred and fifty thousand
• 14:41
  Speaker: registrations.
• 14:42
  Speaker: Curtis and I talked about on the podcast recently, potentially
• 14:46
  Speaker: one hundred thousand registered in the final three days.
• 14:49
  Speaker: You know, that gives us back to
• 14:50
  Speaker: the twenty nineteen days of
• 14:53
  Speaker: activity.
• 14:55
  Speaker: Peter Smyth mentioned his fleet
• 14:57
  Speaker: department, you know,
• 14:58
  Speaker: registering cars up until six
• 15:00
  Speaker: o'clock on the the last day of
• 15:01
  Speaker: the month.
• 15:03
  Speaker: From your perspective, looking at the data, you know, you
• 15:06
  Speaker: mentioned the Gila there.
• 15:07
  Speaker: We mentioned, you know, the
• 15:08
  Speaker: activity in terms of that growth
• 15:12
  Speaker: in Pre-reg.
• 15:13
  Speaker: What have you seen in that that
• 15:14
  Speaker: retail marketplace of vehicles
• 15:16
  Speaker: being advertised on a seventy
• 15:17
  Speaker: six plate?
• 15:19
  Speaker: Yeah.
• 15:19
  Speaker: I mean, as we said earlier, it's been an increase of thirty seven
• 15:23
  Speaker: and a half percent.
• 15:24
  Speaker: And if you compare that with October last year, it's a sixty
• 15:28
  Speaker: five percent increase.
• 15:30
  Speaker: The activity I think, um, you
• 15:33
  Speaker: know, from a point of view of
• 15:36
  Speaker: adverts, you know, that that's a
• 15:38
  Speaker: big increase.
• 15:38
  Speaker: If you look at sales for those vehicles, they increased by
• 15:41
  Speaker: eleven point seven percent.
• 15:42
  Speaker: So what this is saying to me is
• 15:44
  Speaker: that there's a bit of an
• 15:45
  Speaker: oversupply of this product at
• 15:46
  Speaker: the moment.
• 15:47
  Speaker: Um, the average days to sell for
• 15:49
  Speaker: Pre-reg is at thirty eight point
• 15:51
  Speaker: three.
• 15:52
  Speaker: Um, that's four days quicker than it was um, last year.
• 15:58
  Speaker: Uh, and roughly the same as it was last month in September.
• 16:02
  Speaker: But um, yeah, I mean pre-reg,
• 16:05
  Speaker: but if you look at it by, the
• 16:06
  Speaker: other thing I wanted to do was
• 16:07
  Speaker: look at it by fuel type as well,
• 16:09
  Speaker: because, you know, it's easy for
• 16:11
  Speaker: us to just to assume that it
• 16:13
  Speaker: might be all EV or something
• 16:14
  Speaker: like that.
• 16:15
  Speaker: But the actual answer is that the biggest jump was for petrol,
• 16:21
  Speaker: um hybrid vehicles.
• 16:22
  Speaker: Um, the plug in hybrid volume of
• 16:26
  Speaker: plug in hybrid in market
• 16:27
  Speaker: increased by seventy one point
• 16:28
  Speaker: five percent over the previous
• 16:30
  Speaker: month.
• 16:31
  Speaker: Um, for just standard hybrids, it was twenty six point eight
• 16:34
  Speaker: percent EVs, fifteen percent.
• 16:36
  Speaker: So it is the new fuel types that are being pushed.
• 16:39
  Speaker: It'll come as no surprise to
• 16:40
  Speaker: hear, obviously, that diesel is
• 16:41
  Speaker: down by seven point five
• 16:42
  Speaker: percent.
• 16:43
  Speaker: Only one hundred and twenty four vehicles we saw in October.
• 16:46
  Speaker: But, uh, yeah, that that's where the push is.
• 16:49
  Speaker: It is around the new fuel types and that I think, you know, I
• 16:54
  Speaker: think that ties in with what we're seeing from the new
• 16:56
  Speaker: entrants coming into the marketplace, particularly the
• 16:59
  Speaker: Chinese manufacturers who are pushing plug in hybrids very
• 17:02
  Speaker: hard at the moment.
• 17:03
  Speaker: And as you said there, I mean, you mentioned the Geely product
• 17:07
  Speaker: that, as you say, you know, you wonder how many of those have
• 17:10
  Speaker: been pushed through that, that tactical activity marketplace,
• 17:14
  Speaker: you know, for what essentially is still a new brand in the
• 17:18
  Speaker: marketplace and a model as well.
• 17:20
  Speaker: Yeah, absolutely.
• 17:21
  Speaker: Right.
• 17:22
  Speaker: Um, and just looking here at the pre reg fastest sellers, and
• 17:27
  Speaker: actually the top of the list for that is a Renault Symbios, uh,
• 17:31
  Speaker: one eight E-tech uh, hybrid.
• 17:33
  Speaker: Second place is, as you say, the Geely.
• 17:36
  Speaker: I think we identified that earlier.
• 17:38
  Speaker: Uh, you know, four point nine
• 17:39
  Speaker: days to sale for a plug in
• 17:40
  Speaker: hybrid.
• 17:41
  Speaker: And then there's the, the Chery
• 17:43
  Speaker: Tiggo nine, uh, sitting in third
• 17:45
  Speaker: place, um, at six point six days
• 17:47
  Speaker: to sale.
• 17:48
  Speaker: So you know, that that gives a clear indication for me that it
• 17:51
  Speaker: is, you know, it's hybrid technology that's being really
• 17:54
  Speaker: pumped into the market.
• 17:55
  Speaker: And are you seeing anything?
• 17:56
  Speaker: I mean, you mentioned some of that sort of strengths and
• 17:59
  Speaker: weaknesses earlier around the the age profile.
• 18:02
  Speaker: Are you seeing any indications yet of the impact?
• 18:05
  Speaker: Because, you know, we talk about tactical activity.
• 18:07
  Speaker: It takes a while for it to flush
• 18:08
  Speaker: through the marketplace, doesn't
• 18:10
  Speaker: it?
• 18:10
  Speaker: Because, you know, a lot of it is the registrations at the end
• 18:13
  Speaker: of the month, not necessarily the physical vehicle itself
• 18:16
  Speaker: moving through the, the system.
• 18:18
  Speaker: Are you seeing anything in terms of that weakness in that naught
• 18:22
  Speaker: to six, naught to twelve month marketplace as yet happening?
• 18:26
  Speaker: Um, I don't see that at the moment.
• 18:29
  Speaker: So if we, um, I'm just flicking through to some data as we talk.
• 18:34
  Speaker: Um, I don't see that as
• 18:36
  Speaker: significantly, but to be fair, I
• 18:39
  Speaker: didn't specifically check for
• 18:40
  Speaker: it.
• 18:41
  Speaker: So, um, there may be some underlying data that I don't
• 18:43
  Speaker: have in front of me.
• 18:44
  Speaker: It might be model specific, might it, and again, we might
• 18:47
  Speaker: not fully see it yet in the in the retail adverts.
• 18:51
  Speaker: Well I think, I think you are right there.
• 18:53
  Speaker: I'm racking my brains because I had a conversation at an event
• 18:56
  Speaker: earlier this week.
• 18:57
  Speaker: Um, sorry, the tail end of last week where this topic came up
• 19:01
  Speaker: and it's not coming to me.
• 19:03
  Speaker: If it does, I shall interrupt
• 19:04
  Speaker: the conversation and give it
• 19:05
  Speaker: back.
• 19:06
  Speaker: Um, and, um, and finally,
• 19:08
  Speaker: Rupert, I mean, just to recap
• 19:11
  Speaker: from, from what you've been
• 19:12
  Speaker: saying, October was very much
• 19:14
  Speaker: sort of steady as she goes in
• 19:15
  Speaker: terms of trade values across the
• 19:17
  Speaker: market.
• 19:18
  Speaker: Do you expect more of the same going into November?
• 19:23
  Speaker: I think it will be my take on it is I think it'll be reasonably
• 19:27
  Speaker: similar downward movement.
• 19:28
  Speaker: Um, but I'm expecting, uh, activity towards the end of
• 19:32
  Speaker: November, beginning of December, excuse me to tail off quite
• 19:36
  Speaker: markedly and, uh, as we head into the festive period, but
• 19:40
  Speaker: that's not unusual.
• 19:42
  Speaker: Um, but I don't think it will be a huge drop because gone are the
• 19:47
  Speaker: days where, you know, everybody was completely clearing out of
• 19:51
  Speaker: used car stock before they headed into the new year.
• 19:53
  Speaker: And we saw that New year bounce.
• 19:54
  Speaker: That doesn't really happen anymore.
• 19:56
  Speaker: It doesn't, does it?
• 19:57
  Speaker: It's gone.
• 19:58
  Speaker: Yeah.
• 19:59
  Speaker: So I mean, again, I mean, it's
• 20:02
  Speaker: fascinating having you on and
• 20:04
  Speaker: talking through through some of
• 20:06
  Speaker: this.
• 20:06
  Speaker: I mean, some of those figures.
• 20:07
  Speaker: And as you say, there's probably
• 20:08
  Speaker: a deeper dive into some of this
• 20:11
  Speaker: around, you know, what is having
• 20:12
  Speaker: the impact around those small
• 20:14
  Speaker: car supply?
• 20:16
  Speaker: You know, what is the, you know,
• 20:18
  Speaker: do we start to see some of the
• 20:20
  Speaker: weakness in that, that nearly
• 20:21
  Speaker: new market through the the
• 20:23
  Speaker: tactical activity, you know,
• 20:25
  Speaker: will we see it, you know, or is
• 20:26
  Speaker: it is it just, you know, because
• 20:28
  Speaker: we've seen now for some time
• 20:30
  Speaker: with a heavy incentives and
• 20:31
  Speaker: heavy discounts in the new car
• 20:33
  Speaker: market.
• 20:33
  Speaker: So other tactical activity
• 20:35
  Speaker: prevented vehicles going to
• 20:37
  Speaker: change what's already been
• 20:39
  Speaker: happening.
• 20:39
  Speaker: We don't know do we.
• 20:40
  Speaker: That might be why you're not seeing anything as obvious now.
• 20:43
  Speaker: We don't know.
• 20:44
  Speaker: You're right.
• 20:44
  Speaker: But the tactical activity that's in market at the moment in some
• 20:48
  Speaker: instances is just phenomenal.
• 20:50
  Speaker: Um, you know, you can see some amazing leasing deals out there.
• 20:53
  Speaker: Uh, the new entrants are doing some, uh, very, very cheap
• 20:56
  Speaker: finance in many, in often cases, uh, naught percent.
• 21:00
  Speaker: And, you know, it's not
• 21:01
  Speaker: difficult to poke around and see
• 21:02
  Speaker: those cars being heavily
• 21:04
  Speaker: discounted.
• 21:04
  Speaker: So I think it has to have an effect.
• 21:07
  Speaker: And, uh, that, that, that I
• 21:08
  Speaker: think that will become clearer
• 21:10
  Speaker: as we head towards the end of
• 21:11
  Speaker: the year.
• 21:12
  Speaker: Yeah, definitely.
• 21:13
  Speaker: Definitely.
• 21:13
  Speaker: I mean, just to finish on then.
• 21:14
  Speaker: So, I mean, you know, we've
• 21:15
  Speaker: talked a lot there, you know,
• 21:16
  Speaker: thinking about what's happening
• 21:17
  Speaker: in biofuel type that, you know,
• 21:19
  Speaker: the seasonality shift and year
• 21:21
  Speaker: on year performance for anybody
• 21:23
  Speaker: that's listening to the podcast
• 21:24
  Speaker: today.
• 21:25
  Speaker: But how do they get in touch with you?
• 21:27
  Speaker: I mean, there's probably areas
• 21:28
  Speaker: that some people might want to
• 21:29
  Speaker: do a deeper dive into some of
• 21:31
  Speaker: this data and have some deeper
• 21:33
  Speaker: conversations with you and look
• 21:34
  Speaker: at the data with you and talk
• 21:36
  Speaker: through it.
• 21:36
  Speaker: How do they how can they get in touch with you?
• 21:39
  Speaker: Sure.
• 21:39
  Speaker: Well, the best way is either to reach out to me on LinkedIn.
• 21:42
  Speaker: Uh, and, uh, I can put you in
• 21:45
  Speaker: touch with the guys that will
• 21:46
  Speaker: show you the Borrego platform,
• 21:47
  Speaker: which has, as you would imagine,
• 21:49
  Speaker: an AI based tool that allows
• 21:51
  Speaker: people to query the entire
• 21:54
  Speaker: Borrego database with whatever
• 21:56
  Speaker: they wish.
• 21:57
  Speaker: Um, alternatively, uh, go to our
• 21:59
  Speaker: website at w w w dot dot io and
• 22:03
  Speaker: you can contact us through that
• 22:05
  Speaker: website.
• 22:07
  Speaker: Well, that is all for now.
• 22:09
  Speaker: So many thanks, Rupert, for joining us.
• 22:11
  Speaker: We'll catch up again this time
• 22:13
  Speaker: next month to see how November
• 22:15
  Speaker: performed.
• 22:16
  Speaker: Many thanks to you for listening.
• 22:17
  Speaker: We hope you found this trade values insights useful.
• 22:21
  Speaker: Philip and I are back with all
• 22:22
  Speaker: the big car retailing headlines
• 22:24
  Speaker: this weekend.
• 22:25
  Speaker: Until then, it's goodbye from me and it's goodbye from him.
• 22:32
  Speaker: Thank you for listening to this
• 22:33
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• 22:35
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