Dealers saw used car finance grow at 15.4% in November against the same month last year, according to new Dealerweb data.

The strong growth in used car finance supported a leap in used sales of 12.3%. The trend is in marked contrast to the new sector, which saw sales decline 1.1%.

New car leads dropped 13.5% while used car leads increased 10%. Demonstrations for used vehicles rose by 8.7%.

Martin Hill, our Managing Director said:

It is clear that 2018 has proven to be the year of the used car. Dealers see growth opportunities for used sales and associated income streams with increases in gap insurance, paint protection and finance. As we move into 2019, it is essential that every lead is managed with a robust process.

Dealers are operating in a golden age of data. Every aspect of a retail motor business can be quantified and measured, but it's important that the data is shared and acted upon to create a strong sales culture.”

Our data also showed that dealers have improved new car sales conversion rates from 29% to 33%.