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INSIGHTSUSED MARKET REPORT Q2 2021Q2 PRICES RISE ASDEALERS REMAINSHORT OF STOCKQ2 FLEET PRICESRISE BY 16%BUDGET CARS FALLAS STOCK LEVELSRISE BY 57%

WELCOME FROM MARTIN POTTER, MD – CUSTOMERUsed prices rise on the back of a shortage of newvehicle salesUsed car prices rose at auction acrossthe board during Q2 – late and low roseby 25% and fleet prices by 16% whichreinforces thetrend of increaseddemand for arestricted numberof used cars.Only prices in theBudget sector(126 months), fellbut that was downto stock rising by57% in Q2. LCVsand double-cabpick-ups alsoexperiencedhealthy price risesin the quarter.sales online is working well withpractically all auctions reporting a 100%conversion rate. Used hybrid car pricesare typically in linewith average fleetage and price of 40months and 13,000and have becomean accepted sectorof the used marketwith dealers andconsumers. However,EVs continue toarrive at auction atjust 12 months of ageat an average priceof 28,000 whichhas hampered saletimes.Our hybrid auction strategy of runningphysical sales for dealer part exchangesOverall Q2 was a strong market forvendors but dealers remain desperatelyand LCVs and keeping fleet and OEMshort of stock.2INSIGHTSUSED MARKET REPORT Q2 2021Used Car and Van outlookThere is no sign of car or van makersgetting production levels back tonormal anytime soon. There is talkthat it could even be Q1 2022 beforeproduction starts to properly recover.This will continue to put additionalpressure on the used market withdemand exceeding supply.Prices are likely to remain high asrestricted numbers of part exchangesand ex-fleet stock come to the market.Large order books are being reportedby all the leasing companies and bymanufacturers so when new car andvan supply begins to improve, we willsee more used vehicles arriving atauction at a higher average age andmileage than usual. This will meanworking with vendors to accuratelyassess reserve prices to help themadapt to the ‘new normal.’

OVERALL MARKET TRENDMike Hawes, SMMT Chief Executive, said: “With the final phases of the UK’s vaccinerollout well underway and confidence increasing, the automotive sector is now battlingagainst a ‘long Covid’ of vehicle supply challenges. The semiconductor shortages arisingfrom Covid-constrained output globally are affecting vehicle production, disruptingsupply on certain models and restricting the automotive recovery. However, rebuildingfor the next decade is now well underway with investment in local battery productionbeginning and a raft of new electrified models in showrooms. With the end of domesticrestrictions later this month looking more likely, business and consumer optimism shouldimprove further, fuelling increased spending, especially as the industry looks towardsSeptember and advanced orders for the next plate change.”350,000New Car Registrations (Source: 03INSIGHTSCar RegistrationsUSED MARKET REPORT Q2 2021AprJulOct2021AprYear To DateSource SMMT www.smmt.co.uk/vehicle-data

LATE AND LOW MARKET PROFILE(0-24 months)SUMMARYMILEAGEAGE22,0002321,500 18,35021,00022.520,5002220,00021.519,50021 17,01919,00020.518,500 16,38318,0002017,50019.517,00016,50016,000 15,12919 15,26118.515,500 ,5001612,00015.511,5001511,000Q1 2020AVERAGE PRICE4INSIGHTSQ2 2020Q3 2020AVERAGE MILEAGEUSED MARKET REPORT Q2 2021Q4 2020AVERAGE AGEQ1 2021Q2 2021 P rices in Q2 rose 25%( 3,723) in Q2 to 18,350which is an all-time high forthe sector. T his was assisted by an ageand mileage correction andby the massive demandfor late and low usedcars caused by the newcar production challengecaused by the shortage insemiconductors. T his sector looks set to beshort of supply for manymonths which will keepprices high.

FLEET MARKET PROFILE(24-54 months)SUMMARYMILEAGEAGE57,00043.056,000 12,10955,00042.654,000 11,65353,00042.442.252,000 11,18651,00042.0 10,93850,00041.849,00041.648,000 10,41141.447,00046,00042.841.2 0Q1 2020AVERAGE PRICE5INSIGHTSQ2 2020Q3 2020AVERAGE MILEAGEUSED MARKET REPORT Q2 2021Q4 2020AVERAGE AGEQ1 2021Q2 2021 P rices rose by 16% ( 1,698)in Q2 to a record high of 12,109. T his was in line with CAPbook moves in the pastthree months. A ge and mileage haveremained consistent at 41months and 39,000 miles. V olumes were at the samelevel as Q1 2020, the finalquarter before lockdown.

OVERALL MARKET FUEL TYPESNB: Prices were affectedby a 57% Q2 increase inbudget cars. 15,00014,00013,00011,000 A FVs typically account foraround 10% of current fleetvolumes and around 4% oftotal used market volumes.10,0009,0008,0007,0006,0005,0004,000Q1 2020HYBRID/ELECTRIC6INSIGHTSQ2 2020DIESELUSED MARKET REPORT Q2 2021Q3 2020PETROLQ4 2020Q1 2021Q2 2021 5,435 7,548 14,698 5,408 7,707 12,871 6,152 9,070 14,208 6,506 9,933 14,027 6,948 9,999 14,275 4,910 7,6130 13,3323,0001,000 A FV prices rose again toa record high of 14,698.Much of this increase wasdue to the average age ofEVs being at 12 months andaround 28,000. A verage hybrid prices aretypically more in line withfleet stock at around 40months and 13,000.12,0002,000SUMMARY

DEALER MARKET PROFILE - YOUNG PART EXCHANGES(55-75 months)SUMMARYMILEAGE 8,34571,00070,0007069.569,00069.0 7,70868,00068.567,000 7,22766,00068.0 7,114 6,97165,00067.567.064,00063,000AGE 8,00064.057,00063.556,00063.055,000Q1 2020AVERAGE PRICE7INSIGHTSQ2 2020Q3 2020AVERAGE MILEAGEUSED MARKET REPORT Q2 2021Q4 2020AVERAGE AGEQ1 2021Q2 2021 S aw a 17.3% increase( 1,234) in Q2 to 8,345caused by a restrictedsupply of dealer partexchanges and highdemand. A rise in average agecountered a fall inaverage mileage.

DEALER MARKET PROFILE - OLD PART EXCHANGES(78-125 months)SUMMARYMILEAGEAGE86,000 4,11385,500 4,02185,000104.4104.2104.084,500103.884,00083,500 3,756 3,700103.6103.4 3,63383,00082,500104.6 0.675,500100.5100.475,000Q1 2020AVERAGE PRICE8INSIGHTSQ2 2020Q3 2020AVERAGE MILEAGEUSED MARKET REPORT Q2 2021Q4 2020AVERAGE AGEQ1 2021Q2 2021 P rices rose by 9.5% from 3,756 to 4,113 in Q2. T his sector provides thebiggest opportunity fordealers to satisfy retaildemand for 4-7,000 stock. S tock is typically comingfrom second generationpart exchanges.

DEALER MARKET PROFILE - BUDGET PART EXCHANGES(126 months)SUMMARYMILEAGEAGE163.099,00098,500 1,50498,000162.5 1,412162.097,500 1,38097,000 1,25296,00095,500161.5 1,31396,500161.0 157.090,000Q1 2020AVERAGE PRICE9INSIGHTSQ2 2020Q3 2020AVERAGE MILEAGEUSED MARKET REPORT Q2 2021Q4 2020AVERAGE AGEQ1 2021Q2 2021 W as the only sector wheresupply increased dramaticallyin Q2. S old stock rose by 57% fromQ1 to Q2 which reinforces whyprices softened slightly. P rices fell by 92 in Q2.

USED CAR DESIRABILITY INDEXSUMMARYDESIRABILITYSCORE I t is clear to see that dealersare keen to get their handson cars from the premium carmakers.1098 1 9 out of the top 25 placeswere taken up by BMW,Mercedes-Benz, Volvo, Jaguar,Range Rover and LEARFPACSKEODAYETI0Our data takes into consideration three key metrics: web viewsprior to sale, number of physical and online bids per sale andthe sale price achieved as a percentage of CAP Average.10INSIGHTSUSED MARKET REPORT Q2 2021 H igher end SUVs and sportscars are most sought after asthe semiconductor-inducednew car supply challengeshave caused an increaseddemand for used cars. T he Fiat 500C, Suzuki Jimnyand the Skoda Yeti reflects thehigh demand at the lower priceend of the market for cars thatare in short supply.

USED VAN DESIRABILITY INDEXSUMMARYDESIRABILITYSCORE P rices in the used van markethave been buoyant for the pasttwo years and our July indexsees demand for two vansahead of all the others.1098 T he VW Transporter reflectsthe demand for panel vansparticularly from the SME andparcel delivery sectors.6.566.672.53.03.03.23.33.43.53.5 T he Daily meanwhile is in highdemand from businesses thatneed to carry higher ENTERBERLINGO0Our data takes into consideration three key metrics: web viewsprior to sale, number of physical and online bids per sale andthe sale price achieved as a percentage of CAP Average.11INSIGHTSUSED MARKET REPORT Q2 2021 A total of 10 panel vans appearin the top 25, four pick-upsand 11 car derived vans, all ofwhich are making record pricesat auction.

VAN MARKET 000105,000 7,608104,000103,00073.0 7,080102,000 7,304101,00072.071.0100,00099,000 6,20498,00070.0 5,94997,00069.096,00068.095,00094,000 00064.087,00086,00063.0Q1 2020AVERAGE PRICE12INSIGHTSQ2 2020Q3 2020AVERAGE MILEAGEUSED MARKET REPORT Q2 2021Q4 2020AVERAGE AGEQ1 2021Q2 2021 V an prices remained strongduring Q2 rising to 7,304,this represents a rise of 2,381 since Q1 2020. A verage age continues toincrease which has startedto impact on prices veryslightly. V an makers have the samesemiconductor challenge asthe car makers contributingto used demand exceedingsupply.

DOUBLE-CAB PICK-UP MARKET PROFILESUMMARYMILEAGEAGE69.075,00074,000 14,11773,00067.0 0063.067,00062.0 11,21166,00065,000 10,65764,00063,00062,00061.060.0 10,16959.0 7,00053.056,00052.055,00051.054,00050.053,000Q1 2020AVERAGE PRICE13INSIGHTSQ2 2020Q3 2020AVERAGE MILEAGEUSED MARKET REPORT Q2 2021Q4 2020AVERAGE AGEQ1 2021Q2 2021 P rices have risen by 44.7%( 4,360) since Q1 2020 to 14,117 in Q2 2021 P rices rose despite Q2average mileage increasingby more than 10,000 miles A verage age remains ataround 62 months

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The VW Transporter reflects the demand for panel vans particularly from the SME and parcel delivery sectors. The Daily meanwhile is in high demand from businesses that need to carry higher payloads. A total of 10 panel vans appear in the top 25, four pick-ups and 11 car derive