Figures from Auto Trader, the UK’s largest online automotive marketplace, show that used car prices in the UK dropped by £93.00 in May but prices remain near record levels.
The average price of a used car in May was £12,676.
Diesels were hit the hardest with a decline of £107.00.
The average price of a diesel vehicle was £14,448 in May.
Karolina Edwards-Smajda, Auto Trader’s Retailer and Consumer Product Director, said:
“Month-on-month used car prices have come off the boil slightly in May, but this follows the plate change in March which tends to result in an influx of good quality and higher value stock into the market. In general, used car prices remain near record highs and have stayed robust over the last year despite a choppier new car market.
“But what we are seeing fairly clearly now, from both search and price data on our platform, is the dwindling popularity of diesel. Ongoing uncertainty has rattled consumers and put them off purchasing, despite the fact that newer diesels are the most fuel-efficient, environmentally friendly and cheap option for a significant segment of motorists. We urgently need more clarity from government on the strategy and timeline for shifting to lower-emission vehicles, and how consumers will be supported along that journey.”