Martin Hill Dealerweb
Dealerweb's Martin Hill
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USED car sales increased by 7.8% in October against the same month last year.

Vehicle retail experts at Dealerweb also reported an 18.1% increase in used vehicle finance and a 15.4% increase in GAP insurance sales. Paint protection insurance sales increased 7.4%

Managing Director Martin Hill said: “It is clear that used car operations continue to provide a valuable revenue opportunity for dealers

“The data shows that all aspects of used car retail showed growth in October and we expect this to be a focus well into 2019.”

Finance penetration for used vehicles increased from 44.2% in 2017 to 48.5% last month. Dealerweb argues the growth of used car finance presents a valuable opportunity for dealers as it lags behind new vehicle levels.

Overall used leads increased by 7% showing an increase in conversion by dealers on the same month last year. Digital enquiries leapt by 15.6% while walk-ins dropped by 0.5%.

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