Rise in used diesel and petrol car prices reported
11 October 2019
Author: Sean Keywood
The average price of used diesel and petrol cars rose in the third quarter of 2019, according to online remarketing firm Autorola.
It says that as the second-hand market recovered from a second quarter slump, the average used diesel car price was up by £237 (1.9%) to £12,305, while used petrols were up by £220 (2.2%) to £10,100.
The diesel price rise came despite an average mileage increase of 714 miles to 29,351 miles, while average age stayed at 34 months.
The petrol price rise came with a fall in average age from 32 to 31 months, while mileage remained static at 18,400 miles.
Sales of hybrid and electric cars through Autorola doubled during the quarter, but due to big rises in the average age - from 18 months to 43 months - and mileage - from 7,813 miles to 19,061 miles - the average price fell by £4,081 (24%).
Overall Autorola saw a 21% increase in sales in the third quarter of the year compared with the second.
Autorola UK group sales director Jon Mitchell said: "The Q3 used market has been very busy with confidence coming back from buyers and sellers alike. Prices have increased very slightly but more importantly the market is thriving.
"We haven't seen the pre-registered cars coming into the market impact on our platform sales as generally the average age of used cars is between 24-36 months of age.
"What we have seen is the continued increase in interest for low or zero emission cars in the used market which is likely to continue to grow."