The second quarter of 2018 saw prices of used hybrid and electric cars sold at auction reach a record high; while diesel, petrol and ex-fleet values also rose, according to auction firm Aston Barclay.
The company’s Q2 Market Insights report shows prices for hybrids and electric cars rising by £675 to £13,323, which Aston Barclay says is a further sign the wholesale market is gaining more confidence in stocking these vehicles on their forecourts.
Diesel car prices were up by £887 to £10,656, despite volumes growing by 13%, although average mileage was down by 996 miles to 62,232.
Aston Barclay said historic Vehicle Excise Duty (VED) rates and beneficial running costs were outweighing environmental concerns for diesel buyers.
Average petrol car prices rose by £446 to £7,789, while average ex-fleet prices rose by £629 to £9,945.
Aston Barclay group operations director Martin Potter said: “Dealers continue to put more energy and investment into their used car businesses in the light of falling new car sales.
“More dealers are buying at auction across the age ranges, but particularly three-year old ex-fleet stock as it appeals to a wider group of used buyers.
“With market uncertainties such as WLTP, Brexit and the recent interest rate rise reducing disposable incomes, many consumers are looking to buy used cars.
“The used market has entered the summer in a strong condition and we envisage it retaining its consistency to the end of 2018.”
