The used car market continued to grow in March, but while some models soared in value others took a hit.
According to the latest exclusive data from Auto Trader, used car prices were up seven per cent year-on-year for the month as demand continued to exceed supply.
It’s clear many used car buyers weren’t willing to wait for showrooms to reopen in April and demand remained strong despite dealers only being allowed to operate click and collect or delivery.
The biggest rise in price in March was for the Mercedes-Benz CLK, which climbed by a whopping 28 per cent compared to the same month last year.
However, while incredible growth was seen yet again for some models others dropped as much as 16 per cent.
This most was notable in some of the premium brands.
The figures from Auto Trader reveal the top 10 biggest climbers in price and the 10 models that saw the biggest drops. The list can be viewed by members of the Car Dealer website below. Simply sign in with your name and email address to view it instantly.
Richard Walker, Auto Trader’s Data & Insight director, said: ‘March was an extremely positive month for the market, with all of the audience metrics we track recording an upward spike, including used car prices, which actually saw the rate of growth increase: up seven per cent year-on-year.
‘This has largely been driven by the supply and demand dynamics in the market. As a result of consumer demand reaching record levels on our marketplace, and some pockets of supply constraints for certain vehicles, we’ve recently seen significant price increases for a number of models and derivatives.
‘Of course, when the levels of supply outperform demand these dynamics have the opposite effect, resulting in a softening of average retail price.
‘However, with the market in constant flow, it’s unlikely these models will remain at the bottom of the list for long.’
To view the top 10 used cars with the biggest price change and those that saw the largest drop in March you need to be a logged in member of the Car Dealer website. Sign up now to get immediate access to the list below.