Online remarketing firm, Autorola, has reported that used car prices on its platform fell back slightly in Q2 2017.
The remarketer saw the average price of used cars fall 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’s report also focused on how the various engine fuel types are performing in the market . The remarketer saw greater value drops in vehicles with diesel engines, down by £636 to £10,768 and petrols by £279 to £8,125. However in volume terms, diesel still remains the fuel of choice for trade buyers.
Jon Mitchell, Autorola UK’s group sales director, “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, 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.”
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