April Shows Price Stability in the Used Car Market: Key Insights

Neatly lined used cars in a parking lot illustrating price stability.

Understanding Price Stability in the Used Car Market

The used car market is often a barometer for wider economic conditions, and recent reports indicate an encouraging trend towards price stability. According to Motors, April saw slight price increases reflective of dealer stock growth. The average price of a used vehicle reached £17,541, marking a month-over-month rise of £134 and continuing a plateau established since October 2024.

What Contributes to Price Stability?

Lucy Tugby, marketing director of Motors, points to several key factors behind this trend. The influx of vehicles generated by the March plate-change, as well as an active online market during what is typically a slower shopping season due to holidays, has helped bolster dealer activity. The continued processing of part-exchanges and de-fleets from the corporate sector has further allowed dealers to maintain strong stock levels, leading to robust marketing efforts.

Comparing Franchised Dealers to Car Supermarkets

equals the dynamics varying within the market, franchised dealers average a price of £23,602, while supermarkets see a slightly lower average of £16,794. Interestingly, prices at independent dealers increased by £98 to £12,853, driven in part by the growing demand for older vehicles, specifically those over 10 years old.

The Electric Vehicle (EV) Factor

As the auto industry shifts toward greener technologies, it’s notable that the average price for electric vehicles (£23,849) continues to trail behind that of hybrids (£24,820). This trend may reflect the accessibility of hybrid options amid growing EV adoption, signaling a competitive market evolving around sustainable choices.

Days to Sell and Consumer Interest

Another positive sign for the used car market is the reduction in days to sell, improving from 30 to 28 days, with supermarkets leading the way. In an environment where the most sought-after listings range between £10,000 and £14,999, interest in used vehicles remains strong.

Understanding these trends can give potential buyers and dealers an edge in navigating this dynamic market. As the automotive landscape continues to evolve, remaining informed and adaptable is key.

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