Second-hand diesels retain their value
The average price of a used car in the UK last year increased by 4% to £11,819, according to the Auto Trader Retail Price Index. Interestingly, despite a significant drop in sales of new diesel cars, the average price of a diesel also increased – by 2% to £13,944. The petrol sector, meanwhile, was 7% up at £9,471.
“It’s extremely heartening to see that, despite the ongoing economic uncertainty surrounding Brexit and the negative tone of the fuel debate, used diesel prices are retaining their value,” Karolina Edwards-Smajda, Auto Trader’s Retailer & Consumer Product Director, said. “The Government’s demonisation of diesel really isn’t helping to build consumer confidence, nor is it justified as many modern Euro 6 engines are less harmful than their petrol equivalents. Diesels remain an excellent option for many, particularly those motorists who drive long distances and are looking for the efficiency that only a diesel can offer.”
The Auto Trader Retail Price Index combines and analyses data from around 500,000 trade used car listings every day, as well as additional dealer forecourt and website data, ensuring it accurately reflects the live retail market.
On average, 22% of all searches on Auto Trader each month are based on fuel type. The number of searches for diesels fell by 27% last year to 54%, while searches for petrol-powered vehicles increased by 28%. However, searches for alternatively-fuelled vehicles increased by 65% (with searches for electric cars up by 84%) and accounted for 4% of fuel-specific searches.