Biggest used car prices dropsBiggest used car prices drops


Electric cars dominate list of the biggest used car price drops so far in 2024

  • Biggest risers and fallers in used car market exclusively revealed
  • Auto Trader data shows electric cars are the biggest falling used cars this year
  • Data revealed as June shows prices are firming up month on month despite 10% drop on last year

Time 11:00 am, July 2, 2024

Electric cars dominate the list of the used cars that have lost the most money so far in 2024 – with some losing more than a quarter of their value.

Models from Tesla, Nissan, Audi and Vauxhall feature in the heavy droppers list compiled by used car advertising marketplace Auto Trader exclusively for Car Dealer.

Meanwhile, a number of used cars have actually grown in value this year – but only marginally, and from some obscure brands.

Chrysler – now defunct in the UK – has seen two of its models, the 300C and Grand Voyager, both rise in value.

The biggest loser, however, is a Vauxhall Corsa-e which has lost 25% of its value so far this year with an average asking price now of £15,377. 

New Corsa-e prices are around £33k, but there are some heavy discounts available. Car Dealer found franchised dealer Perrys offering one for sale at £18,495 – complete with an incredible £12,995 discount.

In second place, dropping 24.2% is the Audi e-tron GT, now costing an average of £61,555 in the used market and in third was the Tesla Model Y, which has dropped 24% and now costs an average £37,832.

Biggest falling used cars 2024

Vauxhall Corsa-e, March 2020
Source: Auto Trader, prices to date 2024

  1. Vauxhall Corsa-e – down 25.0%
  2. Audi e-tron GT – down 24.2%
  3. Tesla Model Y – down 24.0%
  4. Toyota Prius+ – down 23.8%
  5. Audi RS e-tron GT – down 23.4%
  6. Nissan Leaf – down 23.2%
  7. DS AUTOMOBILE DS 3 CROSSBACK – down 23.1%
  8. Mazda MX-30 – down 22.4%
  9. Volkswagen e-up! – down 22.3%
  10. Tesla Model S – down 21.9% ​

American brand Chrysler takes the top two places in the biggest rising used car values list so far in 2024 with the 300C up 7.4% to an average asking price of £5,329.

The ever popular Suzuki Jimny has risen 4.8% and now commands an average asking price of £12,164.

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Biggest rising used cars 2024

Chrysler 300C
Source: Auto Trader, prices to date 2024

  1. Chrysler 300C – up 7.4%
  2. Chrysler Grand Voyager – up 5.4%
  3. Suzuki Jimny – up 4.8%
  4. Nissan Pathfinder – up 4.6%
  5. Volkswagen Beetle – up 4.1%
  6. Toyota Land Cruiser – up 3.3%
  7. Jeep Grand Cherokee – up 2.3%
  8. Porsche Cayman – up 2.0%
  9. Honda S2000 – up 1.2%
  10. Mitsubishi Shogun – up 1.1% ​

The stats for the year come as Auto Trader released data for June which showed the average price of a used car was £16,410 last month.

Prices are down 10% from this time last year but have dropped only 0.5% compared to May. 

Auto Trader says there is ‘robust demand’ in the market and that halfway through the year there are ‘no signs of it slowing’.

Richard Walker, Auto Trader’s data & insights director, said: ‘As we enter the second half of the year, our data shows that the fundamentals of the used car market remain solid – consumer demand is robust, and cars are selling at pace, which combined with the softening in supply, means retail prices continue to stabalise. 

‘Although this balance of market dynamics is working to return retail prices to seasonal norms, it’s also affecting retailers’ traditional stock profiles and making the job of finding profitable cars all the more challenging.’

James Baggott's avatar

James is the founder and editor-in-chief of Car Dealer Magazine, and CEO of parent company Baize Group. James has been a motoring journalist for more than 20 years writing about cars and the car industry.

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