12:47 pm, August 25, 2022
Recent years have seen unprecedented price growth in the used car market but not all models have seen their values soar.
A new study by Car Dealer Podcast sponsor, CarGurus, has uncovered several models which have bucked market trends and reduced in price over the last 12 months.
It found that, despite used car market prices being up 12.9 per cent year-over-year, a number of cars are not rising at the same rate.
The 2019 BMW 2 Series was found to have gone down in average listing price the most, failing from £27,532 in July 2021 to £22,458 12 months later – an overall price reduction of £5,074 (percentage reduction 18.4 per cent).
In second place was the 2020 Hyundai Kona, reducing in price from £26,104 to £21,608 (17.2 per cent), followed by Volkswagen’s 2019 Golf, which went from £23,272 to £19,393 in 12 months (16.7 per cent).
Other models in the top 10 were the 2020 Peugeot 3008 (15.4 per cent), 2019 BMW 5 Series (15.1 per cent), 2021 Renault Captur (14.7 per cent), 2019 Jaguar F-Pace (13.4 per cent), 2015 Land Rover Discovery Sport (13 per cent), 2019 Honda HR-V (12.7 per cent) and 2016 BMW X1 (12.6 per cent).
Chris Knapman, CarGurus editor, said: ‘In this past couple of years used car prices have risen to unprecedented levels, which will no doubt be putting additional pressure on consumers’ wallets.
‘With the used car market now showing signs of stabilising, and prices of some models even coming down from their peak, we wanted to highlight those cars where values have fallen by the most.
‘In many cases, such as the BMW 2 Series, Renault Captur and Honda HR-V, depreciation has been accelerated by the launch of newer models, meaning it can be a great time to pick up an example from the previous generation.’
CarGuru’s ten models that have depreciated most in the last year
1. BMW 2 Series (2019)
Average listing price in July 2021: £27,532
Average listing price in July 2022: £22,458
Price reduction: £5,074
Percentage reduction: 18.4 per cent
2. Hyundai Kona (2020)
Average listing price in July 2021: £26,104
Average listing price in July 2022: £21,608
Price reduction: 4,496
Percentage reduction: 17.2 per cent
3. Volkswagen Golf (2019)
Average listing price in July 2021: £23,272
Average listing price in July 2022: £19,393
Price reduction: £3,879
Percentage reduction: 16.7 per cent
4. Peugeot 3008 (2020)
Average listing price in July 2021: £29,037
Average listing price in July 2022: £24,577
Price reduction: £4,460
Percentage reduction: 15.4 per cent
5. BMW 5 Series (2019)
Average listing price in July 2021: £36,163
Average listing price in July 2022: £30,717
Price reduction: £5,446
Percentage reduction: 15.1 per cent
6. Renault Captur (2021)
Average listing price in July 2021: £22,416
Average listing price in July 2022: £19,110
Price reduction: £3,306
Percentage reduction: 14.7 per cent
7. Jaguar F-Pace (2019)
Average listing price in July 2021: £42,051
Average listing price in July 2022: £36,410
Price reduction: £5,641
Percentage reduction: 13.4 per cent
8. Land Rover Discovery Sport (2015)
Average listing price in July 2021: £22,336
Average listing price in July 2022: £19,422
Price reduction: £2,914
Percentage reduction: 13.0 per cent
9. Honda HR-V (2019)
Average listing price in July 2021: £22,073
Average listing price in July 2022: £19,263
Price reduction: £2,810
Percentage reduction: 12.7 per cent
10. BMW X1 (2016)
Average listing price in July 2021: £20,405
Average listing price in July 2022: £17,829
Price reduction: £2,576
Percentage reduction: 12.6 per cent
