Increasing used diesel car prices reported
09 April 2019
Author: Sean Keywood
The average price of a used diesel car rose by 5.6% in the first quarter of 2019, according to remarketing firm Autorola.
The increase took the average price to £13,226, the highest Autorola has seen since it starting logging prices in 2015.
Used petrol car prices were also up by 2.1%, to a record high of £10,598. Despite that, Autorola warns that prices have slowed during the period.
The rise in diesel prices came despite an average mileage increase of 639 miles to 28,068. The average age of diesel cars sold stayed at 33 months.
For petrol cars, the average mileage was up by 581 miles to 18,636, and the average age rose from 31 to 32 months.
Prices of electric and hybrid cars rocketed by £4,595 to £16,783, but Autorola says a dramatic change in stock profile makes quarterly comparison different, with the average mileage and age of vehicles falling from 17,482 miles and 28 months to 9,504 miles and 19 months.
Autorola saw three times as many hybrid and electric cars sold in the period than in the preceding quarter, although it says volumes are still low compared with petrol and diesel.
Autorola UK group sales director Jon Mitchell said: "Demand for diesel has been very strong across the board - everything from Focus to SUVs - resulting in a strong quarterly price performance.
"Petrol continues to create interest with buyers although prices have slowed down, while the supply of hybrids and electric vehicles reaching the market has increased, but consistency of supply and stock profile remains erratic.
"In the run up to the original Brexit [date] in March we saw a slight softening of buyer bids and demand, but this is now changing, and we are seeing some great used stock coming into the market, fuelled by the 19-plate change."