Average used car prices saw the biggest monthly rise this year in September across eBay Motors Group’s platform.
Prices were up an average of £822, according to its latest Market View. The average list price of the top 50 makes and models advertised on Motors.co.uk was up 6.5 per cent to £13,504 from £12,682 in August.
Franchised dealers were making the biggest increases, with prices up 7.7 per cent in September to £16,243.
The next largest movements were seen at car supermarkets with an average price increase of 6.8 per cent, from £13,928 in August to £14,881 in September.
Independent retailers made the smallest increase but it was still a considerable increase, up 5.8 per cent from £8,820 to £9,331 on average.
Compact and small SUVs continued to dominate the top 10 fastest selling cars, with the Ford Edge, MG ZS and Kia Sorento all feature. Read below to see the top 10 in full.
Prices were put under pressure as dealers struggled to replenish forecourts, with average stock volumes falling to 36.9 units from 38.3 in August and down 20 per cent compared to September 2020.
This drop was felt the most in independent dealers, with average stock reduced by seven units per forecourt or 21 per cent.
Dermot Kelleher, head of marketing and research at eBay Motors Group, said: ‘The used car market continues to experience an intense period of diverse market dynamics, with some strong price rises being driven by unsated buyer demand, combined with ongoing restrictions in stock supply.
‘Through September we can see evidence of dealers across all sectors holding firm on their advertised prices, an absolute necessity for those who paid the going rate at wholesale where values have been rising for several months.
‘On Motors.co.uk we’ve tracked a rise in retail prices since June and expect this to continue into Q4 and possibly beyond.’
Top 10 fastest selling cars in September
1. Ford Edge – 20 days to sell on average
2. MG ZS – 21.8 days to sell on average
3. Kia Sorento – 21.9 days to sell on average
4. Mercedes-Benz A-Class – 23.9 days to sell on average
4. Vauxhall Mokka – 23.9 day to sell on average
6. Land Rover Discovery Sport – 24.4 days to sell on average
7. Hyundai Ix35 – 24.7 days to sell on average
8. Volkswagen Touareg – 24.8 days to sell on average
9. Citroen C4 Grand Picasso – 25 days to sell on average
10. Vauxhall Zafira Tourer – 25.4 days to sell on average