11:51 am, October 25, 2021
The average price of a used car reached £19,254 last week – a rise of almost a quarter when compared to the same period last year.
Data from Auto Trader found that in the week beginning October 18, the average price of a used car was up by 24.9 per cent on 2020.
The figure also rose by 0.5 per cent on the week before, with vehicles taking an average of 24 days to sell on the online platform.
The model with the largest price increase was the Jaguar XK which shot up 44.8 per cent to £28,813.
It was joined at the top of the list by the Hyundai i30 which rose by 42.9 per cent to £12,958 and the Land Rover Defender 110 which saw a rise of 42 per cent to £79,816.
The top five was completed by the Ford Focus and Kuga which rose by 40.4 and 36.5 per cent respectively.
A second-hand Focus now costs an average of £14,418 while a Kuga is likely to sell for £19,721.
Despite the rising prices, there were still a number of models that saw their values drop.
The largest decrease came for the BMW 8 Series, which saw fell by 4.3 per cent to £62,461.
That was closely followed by the Bentley Bentayga, which is has an average asking price of £110,946 – a decrease in value of 4.2 per cent.
Five models that have seen the largest price increase
Jaguar XK
Average asking price: £28,813
Price increase: 44.8%
Hyundai i30
Average asking price: £12,958
Price increase: 42.9%
Land Rover Defender 110
Average asking price: £79,816
Price increase: 42%
Ford Focus
Average asking price: £14,418
Price increase: 40.4%
Ford Kuga
Average asking price: £19,721
Price increase: 36.5%
Five models that have seen the largest price drops
BMW 8 Series
Average asking price: £62,461
Price drop: 4.3%
Bentley Bentayga
Average asking price: £110,946
Price drop: – 4.2%
Jaguar I-Pace
Average asking price: £59,949
Price drop: 3.9%
BMW i3
Average asking price: £24,525
Price drop: 3.4%
Lexus ES 300H
Average asking price: £35,087
Price drop: 2.8%
