7:33 am, June 9, 2026
The used car market shrugged off the traditional bank holiday slowdown as prices rose in May, with EVs seeing the biggest value increases for the second month running.
Latest Cazana data shown to Car Dealer ahead of general publication shows May defied seasonal norms, with average prices of three-year-old cars rising 0.7% (circa £170).
It means May was the fifth consecutive month for price growth, showing just how strong the used car market has been in 2026 so far.
Speaking to Car Dealer in a special video interview – which you can watch at the top of this story – automotive consultant Derren Martin explained the results were particularly impressive.
‘Traditionally, May can be a slower month because you get bank holidays,’ he said.
‘When you look at the data, every month this year dealers have been pushing their retail prices up. Not by much, but they’ve been edging them up.’
Five-year-old cars also saw values increase by 0.6%, while one-year-old stock remained stable.
Martin added that falling trade prices alongside rising retail values are helping dealers improve margins.
‘Trade values may have been dropping, but retail prices have actually gone up,’ he said.
‘Their margins are improving very slightly, which is great news.’
EV prices rise again
Electric vehicles were once again the standout performers in May, following on from a strong performance in April.
According to Cazana’s data, used EV values increased by 1.2% during the month, making them the strongest-performing fuel type. Hybrid values rose by just under 1%, delivering around 4% growth over the past two months.
Martin said EV demand has been boosted by rising fuel prices and improving affordability.
‘EVs have been the strongest performing fuel type in terms of pricing,’ he said.
‘This month they’ve gone up by 1.2%. It is the strongest performer again.’
He added that used EVs now represent increasingly compelling value for consumers.
‘Those cars now look very reasonably priced, whereas two or three years ago they didn’t and now they do.’
Cazana data also showed just how in demand some EVs are.
Several electric models were among the fastest-selling used cars in the UK in May.
The MG4 led the way with an average selling time of just 13 days, followed by the Cupra Born at 16 days and the Tesla Model 3 at 19 days.
Martin believes falling prices have opened EV ownership to a much broader audience.
‘When you’ve got a £12,000 electric vehicle and people considering it and realising that they do work for them, if they’ve got a charge point at home, it definitely works for them,’ he said.
He also urged dealers to consider stocking more electric vehicles alongside their traditional petrol inventory.
‘If you can pick up some cars reasonably priced and you realise how quickly you can turn them, then there’s some definite opportunities there,’ he said.
And this no short-term blip, either, with Martin believing that rising EV prices is now a trend.
Elsewhere in the Cazana data, used saloon prices were up 2.3%, and estates saw a 0.3% rise off the back of a prior 5% two-month increase.
MPVs dropped for the third consecutive month, falling 1.6%, while convertibles and coupe-cabriolets predictably rose 1.6% as summer weather took hold.
As for brands, Volvo prices U-turned with the Swedish carmaker emerging as the strongest manufacturer at the 3-year age point with a 2.8% value increase (nearly 6% in two months). Audi (+2.2%) and BMW (+1.8%) also posted strong gains, while Kia (-0.7%) and Ford (-0.2%) lagged slightly behind.
You can watch the full interview with Derren Martin at the top of this story
