8:15 am, November 17, 2022
Despite used car prices being at their strongest for over a decade last month, values of some of the UK’s most popular second-hand cars have dropped by over 20 per cent.
CarGurus analysed its average listing price data to draw up a list of the biggest depreciating used cars, and a mix of best-selling and premium motors dominated the chart.
The 2019 BMW 2 Series was found to have gone down in price the most, falling from £29,640 to £22,271 – an overall average reduction of £7,369 or nearly 25 per cent.
Following closely behind was the 2019 Ford Kuga (-23.9 per cent), 2019 Volkswagen Golf (-23.1 per cent), 2020 Ford Focus (-22.7 per cent) and 2017 Ford Kuga (22.5 per cent).
According to the firm’s data, monthly average used car prices have been on the rise since the end of August, with the cost of a used car at the end of October (£18,851) now surpassing average prices from April 2022 (£18,830).
Average prices fell at the end of Q1 (£19,328) and quarter two (£18,229), but rose again in quarter three (£18,407).
The findings come after Cap HPI told Car Dealer last month was the strongest October it had witnessed since 2007 or 2008.
Kevin Roberts, director of industry insights and analytics at CarGurus, said: ‘Vehicle prices continue to remain stubbornly elevated for UK car buyers.
‘These high prices combined with rising inflation, climbing interest rates and a cooling economy are having an impact on consumers’ wallets.
‘Unfortunately, with new vehicle production still constrained we’re not likely to see immediate relief on car prices in the near term.’
He added: ‘The positive news for car buyers is, in the face of a cost-of-living crisis, there are good cars out there that are coming down in price all of the time, some as much as 25 per cent in the last 12 months.’
The top 20 biggest depreciating used cars
1. BMW 2 Series 2019
Average listing price Oct 31, 2021: £29,640
Average listing price Oct 31, 2022: £22,271
Variance: -£7,369 / -24.9%
2. Ford Kuga 2019
Average listing price Oct 31, 2021: £23,511
Average listing price Oct 31, 2022: £17,891
Variance: -£5,620 / -23.9%
3. Volkswagen Golf 2019
Average listing price Oct 31, 2021: £25,133
Average listing price Oct 31, 2022: £19,319
Variance: -£5,814 / -23.1%
4. Ford Focus 2020
Average listing price Oct 31, 2021: £25,281
Average listing price Oct 31, 2022: £19,534
Variance: -£5,748 / -22.7%
5. Ford Kuga 2017
Average listing price Oct 31, 2021: £18,916
Average listing price Oct 31, 2022: £14,668
Variance: -£4,249 / -22.5%
6. Vauxhall Crossland 2021
Average listing price Oct 31, 2021: £21,503
Average listing price Oct 31, 2022: £16,783
Variance: -£4,720 / -22.0%
7. Ford Kuga 2016
Average listing price Oct 31, 2022: £15,865
Average listing price Oct 31, 2022: £12,395
Variance -£3,470 / -21.9%
8. Seat Leon 2019
Average listing price Oct 31, 2021: £20,764
Average listing price Oct 31, 2022: £16,241
Variance: -£4,523 / -21.8%
9. Kia Sportage 2017
Average listing price Oct 31, 2021: £18,016
Average listing price Oct 31, 2022 :£14,130
Variance: -£3,885 / -21.6%
10. Ford Kuga 2018
Average listing price Oct 31, 2021: £21,105
Average listing price Oct 31, 2022: £16,582
Variance: -£4,523 / -21.4%
11. Nissan X-Trail 2017
Average listing price Oct 31, 2021: £19,014
Average listing price Oct 31, 2022 :£14,943
Variance: -£4,071 / -21.4%
12. Land Rover Discovery Sport 2016
Average listing price Oct 31, 2021: £25,441
Average listing price Oct 31, 2022: £20,009
Variance: -£5,432 / -21.4%
13. Land Rover Discovery Sport 2017
Average listing price Oct 31, 2021: £29,043
Average listing price Oct 31, 2022 :£22,858
Variance: -£6,184 / -21.3%
14. Vauxhall Grandland X 2019
Average listing price Oct 31, 2021: £19,826
Average listing price Oct 31, 2022: £15,615
Variance: -£4,210 / -21.2%
15. Ford Focus 2016
Average listing price Oct 31, 2021: £15,277
Average listing price Oct 31, 2022: £12,034
Variance: -£3,243 / -21.2%
16. Land Rover Discovery Sport 2018
Average listing price Oct 31, 2021: £32,857
Average listing price Oct 31, 2022: £25,936
Variance: -£6,922 / -21.1%
17. Volvo V40 2018
Average listing price Oct 31, 2021: £18,217
Average listing price Oct 31, 2022: £14,418
Variance: -£3,799 / -20.9%
18. Volkswagen T-Roc 2020
Average listing price Oct 31, 2022: £30,121
Average listing price Oct 31, 2022: £23,850
Variance: -£6,271 / -20.8%
19. Range Rover Evoque 2014
Average listing price Oct 31, 2022: £19,332
Average listing price Oct 31, 2022: £15,330
Variance: -£4,002 / -20.7%
20. Hyundai Tucson 2017
Average listing price Oct 31, 2021: £17,152
Average listing price Oct 31, 2022: £13,614
Variance: -£ 3,539 / -20.6%
