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Used diesel car prices reach record high, Autorola reports

Date: 12 April 2021   |   Author: Sean Keywood

Prices of used diesel cars hit a new high during the first quarter of 2021, according to remarketing firm Autorola.

It said the average sale price of the vehicles was £14,769, a 6.6% increase on the fourth quarter of 2020, with average age and mileage at 33 months and 25,437 miles. 

Wholesale diesel sales also reached record levels for the second successive quarter, comprising 43.6% of all used cars Autorola sold online during Q1. 

Hybrid used car sales were also strong during Q1, accounting for 5% of Autorola sales, although the average price dropped slightly to £14,812 on the back of a rise in average age and mileage to 35 months and 24,797 miles.

The average EV price fell by 19.6% to £16,047, as the average age of vehicle sold rose from 24 to 27 months, while the number sold halved, which Autorola attributed to the trade clearing out its less desirable stock.

It said EV values continued to be highly volatile, having been as low as £11,100 and as high as £19,900 during the past 15 months.

As for used petrol car prices, they were up by 2.6% on average to £10,992, with average age rising and mileage falling.

Autorola UK group sales director Jon Mitchell said: "Diesels have been written off by many simply because new car sales have fallen dramatically, but in the used market demand and prices have been very strong for the past 12 months.

"We are likely to see this continue as used stocks begin to fall over the coming years. 

"The popularity of hybrids is becoming very consistent, while EV prices continue their rollercoaster ride and show no signs of stability."