4 months ago
Used diesel cars that were sold online in 2020 saw prices rise on average by 8.5 per cent to £13,847.
That’s according to online remarketing firm Autorola, which said the £1,088 increase flew in the face of reports of the death of diesel.
Almost four in 10 (37.4 per cent) of used cars that Autorola sold online for dealers and fleet vendors had a diesel engine.
The price performance was based on an average age and mileage of 35 months and 25,404 miles.
Meanwhile, used hybrid prices actually FELL last year by £176 (1.4 per cent) from £16,778 to £16,602, with the average age rising from 31 to 34 months and average mileage dropping from 24,696 miles to 22,632.
Only 2.9 per cent of the used cars that Autorola sold in 2020 were hybrid, with EVs comprising 0.8 per cent of online sales.
EVs aren’t budging either because of average prices rising in 2020 by 24.8 per cent (£3,975) to £19,978 at 24 months and 14,328 miles.
Autorola UK group sales director Jon Mitchell said: ‘Diesel demand and prices for dealer part-exchanges and ex-fleet stock have both been strong during 2020 and there are no signs of it falling, which is good news for the trade and consumers alike.
‘We are definitely seeing a rise in demand for electric cars in the used market, but prices are still trying to find their level.
‘Not surprisingly, it will take a while until we start to see higher volumes reaching auction, and in the meantime, the EV prices in the used value guides should be used sparingly, as every single car we sell seems to be worth a different amount to individual buyers.’
Used petrol prices, meanwhile, went up by an average of 2.9 per cent (£303) from £10,403 in 2019 to £10,706 in 2020 based on an average age and mileage of 32 months and 19,336 miles.
Petrol cars made up 58.9 per cent of Autorola’s sales last year.
The news comes on the heels of Auto Trader telling Car Dealer in an exclusive interview that automotive retailers could see the number of buyers dropping by half in the new lockdown.
Auto Trader director Catherine Faiers said the first lockdown saw dealers achieving 20-25 per cent of normal sales, rising to 70-75 per cent in November’s lockdown having got to grips with click-and-collect.
The severity of restrictions in the third lockdown meant transaction levels would be lower than in the second lockdown, she added.
But there were still positive signs, including a huge spike in searches for used cars on its platforms since Boxing Day, said Faiers.
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