Anti-diesel trend slowly hitting used car market
According to the latest figures from the Auto Trader Retail Price Index, the average price of a used diesel car in the UK declined in November, falling £143 compared to the previous month, to £14,412. However, on a like-for-like-basis, the fuel type has recorded an annual increase of 3%. By contrast, the average price of a used petrol car increased £55 month-on-month, reaching £10,342. On a like-for-like basis, this equates to a year-on-year increase of 11%.
Data taken from Auto Trader’s market place revealed that whilst new diesel car registrations continue to fall dramatically, as revealed by the Society of Motor Manufacturers and Traders (- 30.6% in November), diesel remains the most searched for fuel type on Auto Trader (new and used).
Commenting on the findings, Karolina Edwards-Smajda, Auto Trader’s Retailer and Consumer Product Director, said: “The negative rhetoric surrounding diesel, which has been fuelled by the government’s recent announcements is undoubtedly contributing to the decline in new and used car sales and has impacted used car prices in November. Although used diesels have been showing much greater resilience, with their value continuing to increase year-on-year, as well as remaining the most searched for fuel type on our marketplace, the Index does show a small month-on-month decline for the first time in eight months. It’s too early to tell whether this is an emerging trend or not, so we will continue to monitor prices closely”.