Price of diesel cars increase
The average price of a used diesel car has increased by 2.4 per cent since the start of 2018.
This puts an end to the decrese on diesel prices throughout 2017 when values tumbled on the back of constant negative news. The analysis from Motorway.co.uk also shows equivalent used petrol cars have fallen 0.7 per cent since the start of this year.
Motorway.co.uk analysed valuations for more than 60,000 used diesel and petrol cars aged five years old or less, valued on its website between January 2017 and April 2018.
Monthly figures reveal the average price of a used diesel during April 2018 was £13,637, compared to £13,315 in December 2017 – a rise of 2.4 per cent. The average used petrol car price in April 2018 was £9,477, down 0.7 per cent on the average price in December 2017 of £9,543.
However, after the aggressive price falls last year, average diesel prices are still substantially lower than the same time last year, dropping from £14,339 in Q1 2017 to £13,640 in Q1 2018 – a difference of almost £700. This compares with the average price of a used petrol car, which has risen from £8,916 to £9,754 during the same period, as diesel fears switched buying habits towards petrol variants.
Alex Buttle, director of Motorway.co.uk commented, ‘A 2.4 per cent rise in average values isn’t quite diesel’s ‘phoenix from the flames’ moment, but it is a positive step after a year of significant price falls. Having been demonised by the Government and ripped apart by the press, it seems diesel’s price slump has now reached the bottom and valuations are finally showing signs of resilience.’