8:08 am, June 18, 2021
Used car prices have continued to rise for the 57th consecutive week on Auto Trader, up an incredible 9.7 per cent year-on-year.
Between June 7 and 13, the car classified website has seen demand grow with 15.3m users visiting its platform – a 29 per cent increase on the same week in 2019.
Despite the boom in June 2020, when showrooms reopened following two months of lockdown, this figure is one per cent higher than the same week last year too.
Auto Trader has exclusively revealed to Car Dealer the top 20 highest climbers in price, showing the higher prices customers are willing to pay retail to get their hands on some cars.
According to Auto Trader, supply was down 10.8 per cent last week compared to 2019.
The company said that there had been a notable increase in sticker prices, following advice from Auto Trader to not forget about updating cars that have been in stock for longer, with 37 per cent rising prices across their entire forecourt.
That’s up on the record seen in May of 32 per cent and 22 per cent in April.
The highest price increase, year-on-year, seen last week was for the Land Rover Defender 90. Prices recorded were up more than a third of the price last year, by 37 per cent to £64,852.
However, on average, less dealers are making daily changes than in 2019 at 2,284 car dealers. Further, 27 per cent less vehicles were repriced each day compared to the same week in 2019.
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.’
Top 20 used car price increases
Here are the 20 cars that rose the most in price year-on-year between June 7 – 13, 2021.
1. Land Rover Defender 90
- Up 37 per cent
- Average asking price: £64,852
2. Audi RS3
- Up 32.8 per cent
- Average asking price: £39,035
3. Mitsubishi Shogun
- Up 31.5 per cent
- Average asking price: £17,106
4. Mazda MX-5
- Up 30.8 per cent
- Average asking price: £11,980
5. Audi A4 Cabriolet
- Up 27.8 per cent
- Average asking price: £4,918
6. Audi A3 Cabriolet
- Up 27.7 per cent
- Average asking price: £11,547
7. Land Rover Discovery 4
- Up 27.2 per cent
- Average asking price: £21,616
8. Audi TTS
- Up 25.2 per cent
- Average asking price: £22,393
9. BMW X5
- Up 25.1 per cent
- Average asking price: £33,286
10. BMW Z4
- Up 24 per cent
- Average asking price: £18,107
11. BMW M2
- Up 23.9 per cent
- Average asking price: £40,002
12. Mercedes-Benz SLK
- Up 22.9 per cent
- Average asking price: £11,596
13. BMW X3
- Up 22.7 per cent
- Average asking price: £24,646
14. Audi TT
- Up 22.7 per cent
- Average asking price: £15,139
15. BMW M3
- Up 22.7 per cent
- Average asking price: £40,196
16. Audi S5
- Up 22.2 per cent
- Average asking price: £27,519
17. Jaguar XKR
- Up 21.9 per cent
- Average asking price: £23,184
18. Mini Roadster
- Up 21.9 per cent
- Average asking price: £9,508
19. Honda Accord
- Up 21.6 per cent
- Average asking price: £5,238
20. Mercedes-Benz CLK
- Up 21.1 per cent
- Average asking price: £6,102
