UK used-diesel prices stabilise in Q3
After falling dramatically in Q2, prices for used diesel vehicles in the UK have stabilised in Q3, reports Autorola. Prices for used petrol cars in the UK continue to rise.
As a result, total average prices rose £175 during Q3 to £9,412, the third successive quarter cars sold on Autorola's UK portal have been above £9,000.
Used petrols rose to an all-time of £8,658 in Q3 despite an increase in average age and mileage to 30 months and 21,166 miles. Diesel prices defied the negative press they have received in recent months by remaining static at £10,829 on the back of a fall in age and mileage to 29 months and 17,961 miles. This represents a price fall of just £64 from Q2 2017 compared with the larger fall of £550 experienced from Q1 to Q2 this year.
“Looking across the year used diesels seem to have experienced their biggest price drop from Q1 to Q2 as a knee-jerk reaction to their sudden fall from grace,” comments Jon Mitchell (pictured), Autorola UK’s group sales director.
“Diesel prices showed their resilience in the used market in Q3 and talking to used-car traders we believe this will continue. They are still buying used diesels in high volumes in response to overall consumer demand,” he added.
Autorola’s Q3 overall average market price of £9,412 means prices have remained above £9,000 all year. Q3 age and mileage fell to 30 months and 21,166 miles respectively from the Q2 average of 33 months and 21,551 miles.
“The used market (in the UK) continued its strong performance in Q3 and we believe this will continue through to the end of the year and into Q1 2018,” said Mitchell.