7:25 am, January 29, 2025
Used car prices fell just £60 on average last month as buyers rushed back into auctions to snap up stock.
Used car dealers have reported a buoyant start to the year which has kept prices in the wholesale market steady.
Valuations experts Cap HPI – which looks at the price of used cars changing hands between dealers – said three-year-old cars fell just 0.1% in January.
Editors said that if the deadline for its report was just a few days later it could have even reported an increase in prices.
Electric cars dropped the most in value, falling 1.1% while diesels were the strongest performer with an increase of 0.2%. Petrol cars fell 0.1% and hybrids were down 0.6%.
The January used car price performance was the fourth strongest on record going back to 2012 when the trade valuations firm started tracking prices in this way.
Biggest falling used cars
Source: Cap HPI, January 2025
- Mini Cooper (19-24) Electric – down 5.9% (-£755)
- Tesla Model 3 – down 5.8% (-£1,187)
- Bentley Flying Spur (19-) – down 4.9% (-£5,778)
- Toyota Proace Verso (16-23) Diesel – down 4.0% (-£912)
- Citroën Berlingo (21-) Electric – down 4.0% (-£562)
- Polestar 2 (19-) Electric – down 4.0% (-£813)
- Renault Twizy (20-22) – down 4.0% (-£200)
- Aston Martin DBS (18-) – down 4.0% (-£4,700)
- Kia XCeed (19-21) Diesel – down 3.9% (-£500)
- Polestar 3 (22-) Electric – down 3.9% (-£2,050)
Biggest rising used cars
Source: Cap HPI, January 2025
- Vauxhall Insignia Grand Sport (17-20) Diesel – up 5.4% (+£600)
- Renault Megane (16-21) Diesel – up 5.1% (+£528)
- BMW 2 Series Active Tourer (14-22) Diesel – up 5.0% (+£652)
- Peugeot 308 (13-21) Diesel – up 4.9% (+£531)
- Kia Ceed (18-22) Diesel – up 4.9% (+£557)
- BMW 2 Series Gran Tourer (15-21) Diesel – up 4.9% (+£779)
- Mazda MX-5 RF (16-) – up 4.1% (+£633)
- Mercedes-Benz E-Class Cabriolet (17-23) – up 4.0% (+£1,050)
- Mercedes-Benz E-Class Coupe (16-23) – up 4.0% (+£1,183)
- Mercedes-Benz C-Class Cabriolet (18-23) – up 3.9% (+£762)
Jeremy Yea, senior valuations editor, said subscribers to its Cap Live product may even see values turn positive in the coming days.
He added: ‘It’s a bit of a myth that values go up in January, as since the introduction of Cap Live in 2012, the average monthly movement for this period is a negligible -0.2%.
‘January ended broadly in line with our short-term forecast position and overall expectation.
‘It has been a good solid month for most retailers, auctions and wholesale vendors, but with some adverse weather perhaps affecting a more positive outcome.
‘February will likely continue on a positive trajectory, with demand increasing as stock becomes thinner on the ground the closer we get to March.’
