7:49 am, May 18, 2021
Prices for some used cars have jumped between 10 and 24 per cent in April, new data compiled exclusively for Car Dealer shows.
Auto Trader collected figures for the top 10 biggest month-on-month price movements in April for Car Dealer, and some used cars prices rose by as much as 24 per cent.
The list – which you can see below – shows prices jumped across the board regardless of body style, with premium, performance, MPV, supermini and SUV/crossover sectors all affected.
Prices of the Mercedes-Benz S-Class in diesel AMG Line trim up to one year old rose by a whopping 23.9 per cent to an average asking price of £83,286 in April, compared with the month before.
Even one-year-old Nissan Qashqais – one of the best-selling new cars in the UK – are proving to be hot on the used market with prices shooting up by 10 per cent in April to an average selling price of £17,585.
Auto Trader told Car Dealer used car prices were pushing up across the board but also on a granular level, as shown by our exclusive list.
High demand and short supply in the wake of dealerships reopening fully on April 12 are having a major effect on used car prices, said the firm.
In recent weeks, Car Dealer has reported on the trend and found the semiconductor crisis which is slowing down new car production is likely to supercharge used car prices even further.
Commenting on our exclusive list, Richard Walker, Auto Trader’s data and insights director, said: ‘We have seen considerable levels of sustained consumer demand over recent months, which, along with some of the ongoing supply constraints in the market, has had a notable impact on used car prices.
‘April marked 13 months of consecutive price growth, but as the levels of demand increased towards the reopening of physical forecourts, the rate of growth accelerated, with the average sticker price of a used car increasing 7.1 per cent year-on-year last month.
‘The list highlights how these supply-and-demand dynamics can influence the market at even a very granular level, with some models recording some really quite significant movements in just a month.
‘The fact that the biggest increases are within the youngest stock underlines the impact of the challenges retailers are currently facing with new cars.
‘The speed at which the market is moving at the moment shows just how important it is that retailers are using data to drive their forecourt and pricing strategies to ensure they’re making the most of the opportunities and the margins available.’
Top 10 price rises
Mercedes-Benz S-Class – up 23.9%
Trim: AMG Line
Fuel type: Diesel
Body type: Saloon
Transmission type: Automatic
Age: Up to 1 year
Average asking price: £83,286
Price change month-on-month: 23.9%
BMW M4 – up 21.6%
Trim: Competition
Fuel type: Petrol
Body type: Coupe
Transmission type: Automatic
Age: Up to 1 year
Average asking price: £59,740
Price change month-on-month: 21.6%
BMW 3 Series – up 18.6%
Trim: Sport
Fuel type: Petrol
Body type: Saloon
Transmission type: Automatic
Age: 1-3 years
Average asking price: £21,125
Price change month-on-month: 18.6%
Mercedes-Benz B-Class – up 14%
Trim: Sport
Fuel type: Petrol
Body type: MPV
Transmission type: Automatic
Age: Up to 1 year
Average asking price: £23,583
Price change month-on-month: 14%
Renault Captur – up 13.8%
Trim: Iconic
Fuel type: Diesel
Body type: SUV
Transmission type: Manual
Age: 1-3 years
Average asking price: £11,563
Price change month-on-month: 13.8%
Renault Kadjar – up 12.7%
Trim: S Edition
Fuel type: Petrol
Body type: SUV
Transmission type: Manual
Age: Up to 1 year
Average asking price: £19,447
Price change month-on-month: 12.7%
Citroen C3 – up 12.7%
Trim: Flair Plus
Fuel type: Petrol
Body type: Hatchback
Transmission type: Manual
Age: Up to 1 year
Average asking price: £13,585
Price change month-on-month: 12.7%
Nissan Juke – up 11.7%
Trim: N-Connecta
Fuel type: Petrol
Body type: SUV
Transmission type: Manual
Age: 1-3 years
Average asking price: £13,169
Price change month-on-month: 11.7%
Volkswagen Golf R – up 11.3%
Fuel type: Petrol
Body type: Hatchback
Transmission type: Automatic
Age: Up to 1 year
Average asking price: £37,214
Price change month-on-month: 11.3%
Nissan Qashqai – up 10%
Trim: Acenta Premium
Fuel type: Petrol
Body style: SUV
Transmission type: Manual
Age: Up to 1 year
Average asking price: £17,585
Price change month-on-month: 10%
