Online views for used Jaguar and Land Rover cars declined in September as potential buyers steered clear of both brands following the cyber attack that halted Jaguar Land Rover (JLR) production.
MOTORS’ Market View analysis identified an increase in views for the top 30 brands in September, with Jaguar and Land Rover both tracking below average and falling sharply in the final week.
Lucy Tugby, Marketing Director of MOTORS, said: “The cyber attack on JLR generated a succession of news headlines throughout September with our data showing how it knocked the confidence of used car buyers for both brands.
“Despite used Jaguar and Land Rover stock levels remaining flat over the course of the month, buyers steered clear with views per vehicle listed falling by up to 40% for both brands. Even though the cyber attack is impacting new car production, this is clearly flowing through into reduced interest in used JLR vehicles.”
With Jaguar electing to halt new car sales and production at the end of last year, as it retools its plants for new generation EVs, Market View has tracked a 23% drop in used models listed by dealers since April as stocks diminish.
For the used car market overall, September proved to be a stable month with Market View identifying minimal fluctuations across prices, days to sell and dealer stock levels.
The average price of a used car listed on MOTORS was £17,625, down just 0.4% (£68) month-on-month (MoM) but up 2% (£348) year-on-year (YoY). The rise was mostly driven by electric vehicles (EVs) which increased MoM by 1.8% (£315) to £25,5474, although this represented a YoY drop of 8.5% (£2,633).
Dealer stock levels increased by just one unit to 51. While days to sell were unchanged MoM at 30 with the fastest sales achieved by car supermarkets at 19 days.
The fastest selling car on MOTORS was the MG S5 EV with nearly new versions under six months old selling in just 10 days.
Although prices remained relatively soft across most regions, Market View did identify some small rises with south central England up 3% MoM to £17,414; south east England up 2% to £18,198; and East Anglia up 1% to £18,527.
London remained the most expensive place to buy a used car (£22,395) and Wales the cheapest (£14,403).