Value of UK’s most popular used cars rose dramatically over past year

Value of UK’s most popular used cars rose dramatically over past year

The UK’s most preferred employed cars have risen in selling price by extra than a quarter in the earlier 12 months, in accordance to 1 utilised automobile marketplace. CarGurus’ investigation of its very own info uncovered the normal cost maximize for its 20 most preferred versions amongst January 2021 and January 2022 was just around 26 per cent.

Working with common listing cost info, CarGurus as opposed the rate of its 20 most searched motor vehicles concerning January 24, 2021 and January 24, 2022. The facts was then refined to mitigate the consequences of new designs, but it unveiled an average cost boost of 26.3 p.c.

The most well-known automobile on the web page – the Nissan Qashqai – noticed rates increase by 29.6 p.c, when the average value of a Mercedes-Benz C-Course rose by 32.5 {54200d265998863b76fd4ce36c7d4cb67028262ee579cdcba83d47ef416fdf44}. None of the vehicles in the top 20 saw their rate tumble, but the most affordable improve was the Variety Rover, which ‘only’ went up by 8.6 per cent.

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The car with the greatest normal price tag increase was the Ford Aim, which observed its common listing selling price strike £16,250 in January 2022 – up 50 per cent on the exact working day 12 months previously. The smaller sized Ford Fiesta noticed the next-maximum value bounce, up 36.7 {54200d265998863b76fd4ce36c7d4cb67028262ee579cdcba83d47ef416fdf44}, though the Mini Hatch was 3rd, with rates up by 34.9 per cent.

Other automobiles to write-up earlier mentioned-normal will increase incorporated the Volkswagen Golfing, Volkswagen Polo and Mercedes-Benz A-Class.

Kevin Roberts, the director of business insights and analytics at CarGurus, explained the sizeable value will increase were down to a variety of challenges going through the car or truck marketplace, including the international chip shortage and the ongoing problems triggered by the coronavirus crisis.

“Buyers should really be aware of a amount of elements contributing to recent appreciation degrees of Britain’s most well known automobiles,” he reported. “The semi-conductor scarcity has contributed to the worst yr for British isles new motor vehicle output considering the fact that 1956 which, in turn, has led to an enhance in need for utilized vehicles. The ensuing drop in readily available stock has thus obviously driven up selling prices.

“The outlook for 2022 will remain dependent on car or truck production if it can occur back again to a pre-Covid amount we’ll likely see a stronger recovery in revenue and a potential reduction in pricing, usually we’re wanting at a further more continuation of 2021 trends.”