Average age and mileage of used cars for sale rising, Autorola reports
07 July 2022
Author: Sean Keywood
The average age and mileage of cars on the used market continued to rise during the second quarter of this year, according to remarketing firm Autorola.
It put this down to a continuing trend of finance contracts being extended to cope with new car supply delays.
Its data showed used diesel cars were most affected, with average age and mileage of stock up from 35 months and 25,718 miles in Q1 to 43 months and 31,050 miles. This corresponded with the average price falling by 12.4% to £18,907.
The average age and mileage of used petrol cars increased from 35 months and 17,897 miles to 39 months and 20,508 miles, with prices also falling by 12.4% to £14,387.
As for electrified cars, hybrids also saw their average age and mileage rise, but despite this prices were up by 10.5%, while average used EV prices rose by 3%, to £29,866, with age and mileage static.
Autorola UK sales director Jon Mitchell said: "The trends show how the market is changing as some leasing and finance companies report that up to 40% of their fleets remain on extended contracts. Used cars continue to get older."