Motors Market View reveals used car price stability
The used car market showed further signs of price stability in April with average prices up rising to £17,541, according to the latest Motors Market View.
This represents a 0.8% month-on-month increase and a 0.9% uplift on average used car prices in the same month last year.
The data also found that for the third consecutive month the average price of used electric vehicles was cheaper than hybrids, £23,849 compared to £24,820, although petrol continues to account for half of all cars listed, with diesels making up 33% of stock, hybrids 10% and EVs seven per cent.
Meanwhile, days to sell improved from 30 days in March to 28 days in April, with petrol models under six months old the fastest selling models at less than six days.
Lucy Tugby, marketing director of Motors, said: “April saw a continuation of the trends we have now been tracking for several months, with dealers benefiting from market stability and strong prices. Although the late Easter break and school holidays inevitably took some used car buyers out of the market, dealers remained active online and were rewarded by the fastest sales of the year so far.
“The processing of part-exchanges and de-fleets from the company car and leasing sectors, triggered by the March plate-change, saw franchised dealers and car supermarkets increase their stock levels which we expect to generate plenty of online marketing activity over the coming weeks.”
