Press release

Used car prices reach record levels of growth

According to the latest data from Auto Trader, the exceptionally strong levels of used car price growth continues to accelerate. This is being fuelled by high demand and tightening supply in the market. In fact, based on the circa 440,000 used vehicles currently advertised on its marketplace, the average price of a used car increased a record 9.7% year-on-year (YoY) on a like-for-like basis last week. It not only marks 57 weeks of consecutive price growth, but a huge acceleration on the 5.7% YoY growth recorded during the week of 12th April. Since this time, growth levels have increased consistently week-on-week (WoW).

This rocketing trajectory has been driven, in part, by the very strong levels of consumer demand that remain in the market. On Auto Trader last week, there were over 15.3 million cross platform visits, which represents a 29% increase on the same week[1] in 2019. And despite the huge surge in demand following the reopening of non-essential retail in June 2020 after the first lockdown, traffic to its marketplace is still up 1.0% YoY. This demonstrates quite how strong and consistent the level of demand has been.

As a result of this increased activity on site, the average number of leads being sent to retailers grew 60% last week when compared to the same period in 2019. As well as highlighting the very strong levels of consumer demand, it also reflects the change in buyer behaviour of making contact before visiting a forecourt. 

Another testament to the underlying levels of demand in the market is the increased speed at which retailers are selling cars.  Last week, it took an average of just 22 days for stock to leave forecourts, which is 24% fewer days than w/c 12th April when physical showrooms were permitted to reopen.

This price growth has also been affected by ongoing supply challenges in the market. According to the Auto Trader Market Insight tool, which is free to use for all retailers, supply was down -10.8% last week when compared to 2019.

Pricing behaviour highlights retailer confidence

Looking at the pricing behaviour of retailers last week, the number of those making price changes and the value of their adjustments highlight the current strength of the market.

An average of 2,284 retailers made daily price adjustments, which is circa 350 fewer than the same period in 2019. What’s more, an average of 12,527 vehicles were repriced every day last week, which is 27% fewer when compared to 2019. The data also suggests retailers were making significantly smaller reductions to sticker prices, averaging at just -£15, which is 96% less than the average adjustment made in 2019 (-£335).

There’s also been a notable acceleration in the number of retailers making positive price adjustments. In fact, of those retailers who made daily adjustments last week, 37% increased sticker prices across their entire forecourts. This is up on the 32% recorded in May, and 22% in April.

Commenting, Auto Trader’s director of data and insight, Richard Walker, said: “After eight weeks of acceleration, we’ve seen another record set for price growth rates. And with consumer demand set to continue, fuelled by a positive sentiment shift towards car ownership, more disposable income, an aversion to public transport. This coupled with the ongoing supply challenges, we don’t see any reason for this growth to ease anytime soon.

 “Despite the inflation in trade prices, our data highlights the margins available. Prices are high, days to turn are low, and demand is incredibly strong; I highly recommend retailers adopt a retail back approach to their pricing and sourcing strategies and make the most of this opportunity. Retailers should also assess the pricing across their whole forecourt and ensure older stock reflects the positive movement of the market too, otherwise they risk leaving margin opportunities on the table.”

 Used diesel and petrol cars see record price growth

Looking at the data on a more granular level, the movements in petrol and diesel prices largely mirror the wider market, with both recording very strong rates of growth. In fact, the average price of a used diesel car increased a record 11.5% YoY last week, which is up on the already huge 10.3% recorded the prior week. Levels of growth in used petrol prices was only just behind its diesel counterpart, increasing 9.4% YoY. It marked a similarly huge leap on the prior week (8.0%).

The average price of a used volume[2] electric vehicle (EV) recorded an equally impressive rate of growth, increasing 5.5% YoY. And, whilst there’s healthy levels of demand for premium[3] EVs in the market, it failed to match the very strong levels of supply, which as a result saw prices contract -1.1% last week. However, it represents the lowest rate of contraction since early February 2021.


[1] It’s now more accurate to compare the current performance against 2019 given the growing impact of COVID-19 this time last year, in this instance 7th – 13th June 2021 versus 10th -16th June 2019

[2] Volume EV brands categorised as: Ford, Volkswagen, Vauxhall, Peugeot, Nissan, Citroen, Kia, Hyundai, MG, Renault, SEAT, SKODA, Honda, Toyota, Fiat, Suzuki, Mazda, Mitsubishi, Smart, Dacia, Jeep, Subaru

[3] Premium EV brands categorised as: Audi, BMW, Mercedes-Benz, Land Rover, Jaguar, Tesla, Volvo, MINI, DS AUTOMOBILES, Lexus, Abarth, Alfa Romeo

We're excited to announce that, as of 1st July, we'll be powering the used car pages on @whatcar and its sister site, @autocar.
We're excited to announce that, as of 1st July, we'll be powering the used car pages on @whatcar and its sister site, @autocar.
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