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The used car market broke multiple price and stock availability records in the third quarter of 2022, according to auction company Aston Barclay.
It said the supply of ex-fleet cars going to auction reached an all-time low, making up just one in four cars sold, due to contract hire companies still having a third of their fleets on extended contracts.
This scarcity of stock is said to have contributed to ex-fleet prices rising by 3.4% to a record high average of £15,808, with average age and mileage remaining stable.
Used cars up to 24 months old also hit a new record high average price, at £24,695, despite average age and mileage rising.
Stock levels rose for the first time in many months, to 6% of disposal volumes, while conversion rates remained the highest of any market sector.
Used EV prices however stalled for the first time this year, at £31,378 on average, but these vehicles did reach a 6.2% share of cars sold during the quarter - another record.
Aston Barclay chief revenue officer Mark Hankey said: "It's great to see so many records broken in Q3, but it doesn't hide the fact the market is still short of stock which is contributing to these record highs and lows.
"Despite 225,000 new cars being registered in September we have yet to see many of these dealer part exchanges, or de-fleeted company cars reach the used market.
"Dealers tend to be hanging onto the majority of their part exchanges to retail. They have had to change their stocking strategy to fit in with the market which has resulted in them offering a much wider stock range than ever before."
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