The latest results from the Auto Trader Retail Price Index, show that the average price for a used car in July was £14,781. This marks the 16thconsecutive month of used car price growth.

Auto Trader also report that they have recorded increased traffic to their website in July with 67.5 million cross platform visits, this represents a 29% increase compared to July 2020.  

Another sign which shows that demand in the used car market increased last month is that it took an average of 24 days for a used vehicle to be sold – this is 5 days faster than the same period last year.

For the rate of price growth to double in just three months is really quite incredible and is testament to the exceptional levels of consumer demand in the market. Based on what we’re seeing more broadly, such as the strong levels of disposable income and savings, as well as improving consumer confidence and low interest rates, we have every reason to believe that these levels have the potential to remain for much, if not all, of 2021.What’s more, we have barely begun to scratch the surface in reclaiming the 1.4 million ‘lost’ transactions in 2020 as a result of closed physical showrooms. It’s for these reasons we feel very comfortable in revising our forecast for this year at much higher rate than some commentators have suggested, to circa 8 million used transactions.

Said Richard Walker Director of Data and Insight Auto Trader.

Sustained consumer confidence across most vehicle types is greatly encouraging for franchised dealers as it is reflective of an increasingly healthy economy. Whilst we are seeing some headwinds in relation to new and used car supply, as a consequence of semi-conductor shortages and factory closures, NFDA members still remain cautiously optimistic in their outlook for the remainder of the year.

Said Sue Robinson, Chief Executive of the National Franchised Dealers Association (NFDA)

Current used car models aged up to 12 months, exceeding new car equivalent RRP:

MakeModelFuel typeVariant / trimNew
(RRP)
£ up to
12 months
% movement
Land RoverDefender 90Diesel3.0 D250 MHEV X-Dynamic SE
Auto 4WD (s/s) 3dr
£57,960£71,47423.31
Land RoverDefender 90Diesel3.0 D250 MHEV SE
Auto 4WD (s/s) 3dr
£58,120£69,92020.3
ToyotaYarisPetrol1.6T GR AWD 3dr£30,875£36,99019.8
ToyotaYarisPetrol1.6T GR Circuit AWD 3dr£34,080£36,9998.56
Land RoverDefender 110Diesel3.0 D250 MHEV X-Dynamic S
Auto 4WD (s/s) 5dr
£62,350£66,8447.2
Land RoverDefender 110Diesel3.0 D250 MHEV X-Dynamic SE
Auto 4WD (s/s) 5dr
£66,115£70,0005.87
DaciaSandero StepwayPetrol1.0 TCe Prestige Stepway
CVT (s/s) 5dr
£15,155£16,0005.57
Land RoverRange Rover
Sport
Diesel3.0 D300 MHEV HSE
Auto 4WD (s/s) 5dr
£73,115£77,0005.31
Land RoverDefender 90Diesel3.0 D250 MHEV X-Dynamic S
Auto 4WD (s/s) 3dr
£57,466£59,9954.4
Land RoverRange Rover
Evoque
Diesel2.0 D165 MHEV R-Dynamic S
Auto 4WD (s/s) 5dr
£41,825£43,5634.15
Land RoverDefender 90Diesel3.0 D250 MHEV First Edition
Auto 4WD (s/s) 3dr
£57,660£59,9994.05
VolkswagenID.3ElectricElectric Pro S 77kWh Tour
Auto 5dr
£41,410£42,9803.79
DaciaSanderoPetrol1.0 TCe Comfort (s/s) 5dr£12,305£12,7003.21
Land RoverDefender 110Diesel2.0 SD4 S Auto 4WD (s/s) 5dr£57,165£58,8442.93
AudiRS4 AvantPetrol2.9 TFSI V6 Nogaro Edition Avant
Tiptronic quattro (s/s) 5dr
£80,900£82,9952.58
VolvoXC40Petrol1.5 T3 R-Design
Auto (s/s) 5dr
£33,735£34,3501.82
VolvoXC40Petrol1.5 T3 R-Design Pro
Auto (s/s) 5dr
£36,710£36,9900.76
Land RoverRange Rover
Velar
Petrol
Plug-in Hybrid
2.0 P400e 13.6kWh R-Dynamic SE
Auto 4WD (s/s) 5dr
£70,485£70,8440.5
HondaCivicPetrol2.0 VTEC Turbo Type R
Sport Line (s/s) 5dr
£35,950£35,9900.11
BMWX6Diesel Hybrid3.0 40d MHT M Sport
Auto xDrive (s/s) 5dr
£69,930£69,9500.02
Fiat500e CElectric42kWh La Prima Auto 2dr£32,995£32,9950

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