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.

Missed this week's webinar with special guest @vertumotors? Well fear not - the whole webinar is now available on demand at https://t.co/A8vB2i49FU https://t.co/fpMbEkaRgB
Driving long distances? Well the best car for the job is the @UKVolkswagen Golf which scooped the Best Car for Long Distances award at the Auto Trader New Car Awards 2020. Find out what owners said at https://t.co/TAtdeRojpZ https://t.co/4Sj9ANaFK6
For those looking for a 7 seater you can do no better than the @VolvoCarUK #XC90. That's according to the 181,000 car owners who voted it the best 7 seater in this year's Auto Trader New Car Awards! https://t.co/M7t1X3Ic9S https://t.co/csJOtcU63N
Exactly one week ago @MrRoryReid & @ErinBakerMotors announced the winners of the Auto Trader New Car Awards – revealing the best #newcars in the UK according to over 181,000 car owners! You can check out the #award winners at https://t.co/FMgf5HByCM #ThrowbackThursday https://t.co/CLdSORmOV0
Exactly one week ago when @MrRoryReid & @ErinBakerMotors announced the winners of the Auto Trader New Car Awards – revealing the best #newcars in the UK according to over 181,000 car owners! You can check out the #award winners at https://t.co/FMgf5HByCM #ThrowbackThursday https://t.co/SAFHIczDhl
#Dacia have done it once again! The @daciauk Duster once again won the Best Value New Car at the Auto Trader New Car Awards 2020 - an award they also took home in 2019! https://t.co/vf00Z0g60W https://t.co/rn5qZX59Gh
We've seen a record number of #newcar and van #leads with new car retailers enjoying a massive 91% monthly increase in leads! Discover the latest new car data and how to drive even more leads as we see demand continue to spike now > https://t.co/8l2Mkx0ldn
Big thanks to everyone who joined today's webinar and of course to our guest speaker @vertumotors!
Reminder that next week we'll be launching #ATHighlyRated! Retailers who met the criteria will be receiving a pack next week to promote their achievements to consumers. https://t.co/UJgS71ytoP
Over to @stuart_trader who reveals the result of our earlier poll - a majority discounting prices much less or maintaining pre-#covid19 approach https://t.co/t8PfkUzrtU

Auto Trader Group plc
Registered in England (Company number: 09439967)

Auto Trader Limited
Registered in England and Wales (Company number: 03909628)

Registered address:

1 Tony Wilson Place
Manchester
M15 4FN
VAT number: GB 614 8918 20

Keep in touch

We use social media to speak to the UK’s largest car buying audience