Automotive Industry Digest

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Residual value update

Used car prices fall back slightly in Q2, says Autorola UK

The average price of used cars sold through Autorola UK’s online remarketing portal fell by £394 in Q2 2017 to £9,237 after its record breaking Q1 figures of £9,621.

Year-on-year, the average price rose just £83 to £9,237, reinforcing the consistency Autorola has seen in online prices over the past year.

In Q2, average mileage rose to 21,551 and average vehicle age increased back to 33 months.

Autorola has extended its survey to include diesel and petrol prices to understand how demand for the two different fuel types are changing.

In Q2 both the average diesel and petrol prices fell, diesels by £636 to £10,768 and petrols by £279 to £8,125, but generally diesel still remains the fuel of choice for trade buyers.

“There were more used cars around in Q2 than Q1, that were older and with slightly higher mileages. All of these factors combined to contribute to prices falling,” said Jon Mitchell, Autorola UK’s group sales director. “We saw diesel prices fall in Q2 faster than petrols, but we will have to wait a few more months to see if this was a one-off or the start of a more long term fall.”

  Average online price Average age Average mileage
Q2 16 £9,154 33 months 22,615
Q3 16 £9,211 31 months 22,856
Q4 16 £8,983 34 months 23,448
Q1 17 £9,621 29 months 18,992
Q2 17 £9,237 33 months 21,551

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