Used diesel car prices reach record high, reports Autorola

Prices of diesel used cars reached a new high during the first quarter of this year, according to Autorola’s latest online remarketing report.

Prices rose to a record of £14,769 from £13,847 in Q4 2020, a rise of 6.6% (£922) at an average age and mileage of 33 months and 25,437 miles.

Wholesale diesel sales also reached record levels for the second successive quarter comprising 43.6% of all used cars Autorola sold online during Q1 2021.

Hybrid used car sales were also strong during the first quarter, accounting for 5% of Autorola volumes. Prices fell back slightly to £14,812 on the back of a rise in average age and mileage to 35 months and 24,797 miles, which compares favourably with battery electric vehicles (BEVs), which saw a fall in both volumes and prices during Q1.

BEV prices fell by 19.6% (£3,391) from £19,978 in Q4 2020 to £16,047 in Q1 2021 as average age rose from 24 to 27 months.

Autorola saw BEV sales halve during the quarter as the trade cleared out its less desirable stock. EV prices continued to find any level of consistency having been as low as £11,100 and as high as £19,900 during the past 15 months.

Jon Mitchell, Autorola UK group sales director, believes diesels have been “written off” by many, because new car sales have fallen dramatically, but he says that in the used market demand and prices have been “very strong” for the past 12 months.

“We are likely to see this continue as used stocks begin to fall over the coming years,” he added. “The popularity of hybrids is becoming very consistent, while EV prices continue their rollercoaster ride and show no signs of stability.”

Autorola saw used petrol prices remain consistent in Q1, rising by an average of 2.6% (£286) from £10,706 in Q4 2020 to £10,992 as average age rose from 32 to 34 months and average mileage fell from 19,336 miles to 17,961 miles. Petrol cars accounted for 51.4% of Autorola’s total sales in the quarter, a fall from Q4.