Used diesel prices increase

According to results from the Auto Trader Retail Price Index, the average price of a second-hand car increased and used diesel prices continued to grow.

Auto Trader found in its report that used diesel prices are at the highest level of growth since May 2015. Also, the average price of a used car in March was £12,732, a 6% increase on the same period last year.

Whilst new diesel registrations continue to fall, prices for used diesels are increasing and recorded year-on-year growth of 3% in March, which was the highest level of price growth since May 2015.

The average cost of a used diesel vehicle on Auto Trader was £14,453 in March, a £53 month-on-month increase and a £905 rise on the £13,548 recorded in March 2017.

Karolina Edwards-Smajda, Auto Trader’s retailer and consumer product director, said ‘It’s encouraging to see yet more evidence that used diesel prices are holding up, both month-on-month and year-on-year, despite lower numbers of new diesel registrations. We list more than 470,000 cars each day on our marketplace, so this is comprehensive data that is clearly pointing towards a resilient pricing environment. However, we have seen price growth start to flatten out, both in diesel and overall, since the end of last year.’