8:31 am, May 1, 2025
Used car prices slipped by 1.5% in April as experts feel the market is returning to ‘seasonal norms’.
Latest figures from Cap HPI shows that at the three-year/60,000-mile benchmark, average trade values of second-hand cars dropped by 1.5% or £270.
The firm’s data shows that a typical April, aside from Covid-hit 2020 and pent-up demand in 2021, is -1.2% since Cap Live began 12 years ago, prompting the company to suggest seasonal norms have returned to the used car market.
However, despite the slip, April 2025 was the fourth strongest April performance in those 12 years.
Cap HPI said that towards the end of April it saw values start to ‘soften’, but that it moved quickly to adjust values to mirror sold data it was receiving.
Vehicles aged 10 years and older dropped the most in value, 2.1% or £100, with this type of stock now proving to be the most difficult to sell.
Values of coupes and convertibles, meanwhile, were up for a third consecutive month. April saw prices nudge up by 0.9% with notable movers being the BMW 2 Series Convertible (3%/£400), Jaguar F-Type Convertible (2%/£650) and the Mazda MX-5 RF (0.9%/£130).
SUVs took a 40% share of sold data in April, with vehicles up to three years old taking 65%. Prices have slipped the most in this bracket due to high volumes, with the Range Rover Evoque Hybrid (-8.7%/£1,900), Vauxhall Crossland X (-4.3%/£375), Mini Countryman (-4%/£690), and the Ford Puma (-2.2%/£285) being the most significant movers.
Prices of BEVs, or pure-electric cars, dropped by 2.7%, the worst drop of all fuel types.
April marked the fifth consecutive month for falling three-year-old BEV values, with Cap HPI saying the drop underscored ‘persistent challenges’ in the sector.
Of all models aged three-years old, 80% dropped in value, said Cap HPI, with the biggest fallers being the Citroen Berlingo and Vauxhall Vivaro Life at -6.9% (£790 and £850, respectively), followed by the Ora Cat at -6% (£475) and the Mini Cooper at -5.8% (£550).
In contrast, models such as the Polestar 2 and 3, Volvo EX90, and Renault Megane E-Tech held their value throughout the month.
Values of Teslas, meanwhile, also slipped with the Model 3 seeing a 1.1% (£190) fall, and the Model Y experiencing a 3.9%n drop – the latter as a result of ‘increased disposals’.
Cap HPI said there’s a ‘heightened level of caution’ from car dealers when it comes to electric cars due to volatility of used prices, more supply, and attractive new EV offers.
