Press release

Auto Trader Retail Price Index | August 2019

Average used car prices contract but EVs record unprecedented growth

  • Price growth for used EVs is 30.4% in August – the highest ever recorded
  • Year-on-year like for like prices have declined by 1.3%
  • Cars aged 10-15 years still at positive price growth of 0.8% but younger car values have decreased slightly

According to the Auto Trader Retail Price Index, the average price of a used car advertised by retailers remained stable in August at an average of £13,001; a slight decline on the £13,115 recorded in July.

After removing the impact of mix (changes in the types of vehicle entering or leaving the market), like-for-like advertised prices in August contracted -1.3% year- on- year. Used car advertised prices have been impacted by the market corrections to trade valuations which were made through the summer. These marginal decreases in residual values follows the automotive boom of new car registrations in 2015 and 2016 which resulted in a large volume of stock for cars in the three to five-year age range. Cars aged 10 to 15 years still show like-for-like price growth (0.8%).

Like-for-like prices for diesel and petrol vehicles decreased by -1.7% and -1.4% respectively while alternatively fuelled vehicles (AFVs) continued their upward trend, recording 5.7% year-on-year growth in August. Petrol vehicles have an average advertised price of £11,556, diesels £14,202 and AFVs £21,782.

Despite the slight dip in sticker prices, the demand for second-hand cars remains solid as reflected in the number of searches on the Auto Trader marketplace. In August, searches for used and ‘nearly used’ vehicles saw a 4% year-on-year increase.

Karolina Edwards-Smadja, Director of Commercial Products at Auto Trader, explains, “Used car prices will naturally fluctuate, but over the last few months there’s been a variety of unprecedented factors affecting average prices, not least the realignment of market values over the summer, which resulted in some cars having up to £1,000 knocked off their sticker price.

“Supply and demand is less of an issue, but we shouldn’t entirely dismiss the impact the spike in new car registrations three to four years ago has had.  Add to the mix the ongoing   economic uncertainty and there’s clearly been an unusual amount of pressure placed on second-hand car values. It will be interesting to see whether these factors have any further influence during the closing quarter of 2019.”

Search volumes

The percentage of searches by fuel type changed slightly in August. Petrol cars are still the most popular, accounting for half of all fuel searches (50%), diesel cars have increased to 42% (up from 41% last month) while 7% of searches by fuel type are for AFVs.

About the Auto Trader Retail Price Index

The Auto Trader Retail Price Index combines and analyses data from c. 500,000 trade used car listings every day, as well as additional dealer forecourt and website data (manufacturer, fleet and leasing disposal prices, in addition to pricing data from over 3,000 car dealership websites), ensuring the Index is the most accurate reflection of the live retail market.

Just over a week to go to this year's @Auto30Club annual conference which we're proud to be hosting in our London offices. We're looking forward to what's set to be a fantastic day of unique insights, best practice and networking https://t.co/Phfymugcnw
On the 28th November at 11am we'll be hosting a webinar regarding our forthcoming changes to the consumer experience on our marketplace. Don't miss the opportunity to ask all your questions & comments to Beth, Chris and Marc. Sign up today here: https://t.co/2cSKLzsh8F https://t.co/vZhu7jXBBg
We're excited to partner with @gard_x to incorporate its innovative SpinCar technology onto our marketplace which we believe will further help retailers stand out in today’s increasingly competitive market. Read all about it on @AMchatter here https://t.co/AWdNtYWVWL
Two weeks to go! If you're not a member of the @Auto30Club (yet!) and would like to attend this one day seminar please get in touch with victoria@automotive30club.co.uk https://t.co/5w61NEY23R
We're proud to sponsor this year's @Auto30Club conference on 28 Nov. The event will see a host of brilliant guest speakers from inside & outside the industry sharing unmissable insight. For non members wishing to attend please get in touch with victoria@automotive30club.co.uk https://t.co/pr5hIwac0L
Did you know 88% of car buyers are worried they’re not getting a fair deal & 86% are worried they can’t trust the retailer. To help instil more confidence in the vehicle, the price & the retailer we're evolving the consumer experience. Find out more here https://t.co/kJyCtRAkTm https://t.co/PbvVn2RR5h
Throughout May & June we hosted a series of Dealer Open Golf Championship qualifiers around the UK with 192 golfers taking part. Last month we held the final at The Grove - it was a fantastic day & the brilliant team from @HiltonGarage lifted the trophy. Congratulations guys 🏆 https://t.co/xUQfHwt390
Good luck everyone!🏆 https://t.co/1eUedGX8Vp
We're very honoured to have been invited to @TrustFordUK's brilliant annual employee conference today. Our Insight Director Nick King loved the opportunity to share some of our latest insights from the Market Report and Car Buyers Report. Thank you for having us! https://t.co/GgP3OBzAzR
The latest figures from the AT Fastest Selling Index show that the Renault ZOE isn't only the fastest selling used car in the UK, it's the 2nd too. It's just the 3rd time a pure EV has taken the top spot & the first to get the one-two. Read more here: https://t.co/UmqSVkDRFN https://t.co/KN1NeyR9Fe

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