Alternative fuel cars show biggest year-on-year price increase (6.5%).
- Alternative fuel cars also show largest year-on-year market share growth (0.36%)
- Diesel market average prices fall below petrol for first time
Auto Trader has revealed a strong gain in market share for alternative fuel cars, currently showing the highest year-on-year market growth compared with petrol and diesel models.
Launched this month, the Auto Trader Retail Price Index tracks the market value of all cars advertised by retailers on AutoTrader.co.uk, the UK’s largest automotive marketplace for new and used cars. Tracking the trends and changes driven by supply and demand dynamics across makes, models, segments and fuel types – the Auto Trader Retail Price Index offers detailed insight into any significant movements in used car prices and overall market shares.
Data for November 2015 has revealed there are 3,000 more alternative fuel cars in the market compared to 2014, marking a 62% increase in alternative fuel cars within the marketplace year-on-year. Diesel model volumes have been rising, increasing the diesel market share by 0.23% – with petrol cars decreasing at a rate of 0.59%.
Year-on-year fuel type market shares and average values
|Market Share 2015||1.12%||45.81%||53.06%|
|Market Share 2014||0.76%||45.59%||53.65%|
|% Year-on-year difference||0.36%||0.23%||-0.59%|
|Average value 2014||£20,186||£10,132||£9,078|
|Average value 2015||£21,510||£10,008||£10,109|
Prices for alternative fuel cars have risen this year on average by 6.5%, which is largely due to a combination of increasing demand and marketplace model mix. In response to the increase in market share, diesel models were the only fuel type to decrease in price, with buyers reportedly paying £124 less on average for diesel cars compared to 2014. This significant shift brings diesel price averages below petrol for the very first time, a result of more diesel models entering the market and the overall market share for petrol shrinking.
Three month rolling price averages by fuel type
Karolina Edwards-Smajda, Auto Trader Retailer and Consumer Products Director, said, “One of the most interesting observations for the year-on-year November period has been the rise in market share of alternative fuel vehicles, giving the industry more insight into the UK’s growing appetite for electric and hybrid vehicles.
There’s been a big drive from most of the manufacturers to launch desirable alternative fuel cars which is set to grow further, only recently Ford announced its plans for large-scale investment into this area.”
This latest data also reveals two distinct trends within the alternative fuel vehicle segment. Hybrid cars are depreciating the least initially compared to other fuel types, but trends are showing signs of depreciation eventually levelling out at rates similar to petrol and diesel models.
Karolina Edwards-Smajda, added, “Despite the positive outlook for hybrid car depreciation, we are seeing very different trends with electric vehicles, as the latest data shows electric cars depreciating at much higher rates – especially within the first two years – losing value much quicker than hybrid, petrol and diesel cars.”
Key findings from the Auto Trader Retail Price Index are shared every quarter.
Notes to Editors:
About the Auto Trader Retail Price Index
The Auto Trader Retail Price Index tracks the market value of all cars advertised by retailers on AutoTrader.co.uk, the UK’s largest automotive marketplace for new and used cars. Tracking the trends and changes driven by supply and demand dynamics across makes, models, segments and fuel types – the Auto Trader Retail Price Index offers detailed insight into any significant movements in used car prices and overall market shares.
About Auto Trader
Auto Trader Group plc is a 100% digital business having successfully completed the transition from a print title in 2013. Auto Trader sits at the heart of the UK’s vehicle buying process and operates the UK’s largest digital automotive marketplace.
Auto Trader’s primary activity is to help vehicle retailers compete effectively on the Marketplace in order to sell more vehicles, faster. The Marketplace brings together the largest and most engaged consumer audience. Autotrader.co.uk attracts around 43 million monthly cross-platform visits on its sites, with around 68% of visits coming through mobile devices, with the largest pool of vehicle sellers (listing more than 400,000 cars each day). In fact over 80% of all time spent on classified sites is spent on Auto Trader. The Group does not buy or sell any vehicles itself.
Auto Trader has around 92% prompted brand awareness in the UK, with 80% of UK retailer forecourts advertising via the website and around 65% of UK used car transactions involving cars listed on autotrader.co.uk.
Auto Trader’s market-leading position enables it to generate and collect large amounts of data on the UK’s automotive marketplace and leverage it to create a suite of services that allow retailers to:
- BUY – buy the right vehicles, at the right price
- MARKET – market their brands and businesses effectively in the digital world
- SELL- sell more vehicles through advertising on the UK’s largest digital automotive marketplace
- MANAGE – optimise their stock turn and vehicle margin.
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