Q2 used car prices fall across the board reports Autorola

Tuesday, July 16, 2019 - 09:19
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Jon Mitchell, Autorola UK’s Group Sales Director.

Prices of used diesels, petrols, hybrid and electric cars all fell during Q2 according to the latest report from Autorola.

An increase in part exchanges from the new 19-plate in March and the general apathy caused by Brexit helped contribute to the price fall of used cars sold via the Autorola online portal.

Average used diesels fell by £1,317 from £13,385 in Q1 to £12,068 in Q2, following a similar price pattern to Q2 2018, while used petrols fell by £555 from £10,435 in Q1 to £9,880 in Q2.

Average age and mileage of used diesels and petrols remained static at 34 months and 28,637 miles, and 32 months and 18,187 miles respectively.

Used electric and hybrid prices fell by £780 from £17,455 in Q1 to £16,675 in Q2, with average age increasing from 16-18 months and mileage remaining static at 7,813 miles.

After seeing a record number of used electric and hybrid used cars sold online in Q1, stock availability and choice was very restricted during Q2 which helped contribute to the fall in prices.

“It has been an unusual quarter with some large dealer group and car supermarket buyers putting a stop on purchasing used stock in April based on the uncertainty caused by Brexit,” explained Jon Mitchell, Autorola UK’s group sales director.

“May and June were much more consistent with buyers investing in used stock again, while dealer vendors made decisions on which part exchanges to keep and which ones to sell which injected life into the market.

“We hope to see the used car market return to business as usual in Q3,” he added.

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