Press release

Auto Trader Retail Price Index | April 2019

Industry faces low-emission Catch-22 as supply and demand pushes used AFVs out of reach

 

  • Used car market price growth slows to a two-year low
  • AFV have seen the highest rate of growth since August 2018 at 4.7%
  • Price tag of second-hand EVs reach record levels, at £23,361
  • AFVs account for just 1% of stock on Auto Trader

At a time when the average rate of price growth of a used car has slowed to an almost two year[1] low of 1.5%, prices of pure electric vehicles (EVs) are bucking the trend, growing at a rate of 11%.

That’s the latest findings from the Auto Trader Retail Price Index, which highlights the extent consumer economic uncertainty is having on used car prices, with the average rate of growth gradually easing across the total market since January 2019. However, at a more granular level, the decline has been felt most keenly by second-hand diesels with growth now slowing to just 1.3%. Average diesel sticker-prices have fallen to £14,306; the lowest since August 2017.  

Petrol is faring better, albeit marginally. Growth has slowed from 2.4% in March, to just 1.6% last month, the lowest rate since October 2016. The average sticker price of a petrol is £11,200, gaining on last month’s £11,186.

Low emissions bucking the trend

Whilst internal combustion engines (ICEs) are stumbling, their electric powered counterparts are thriving. With an average sticker price of £21,560 in April, used alternatively fuelled vehicles (AFVs) grew at a rate of 4.7%, up from last month’s 3.7% and, indeed, the highest rate of growth since August 2018. But the star of the show is pure electric; at £23,361, the highest price to date, EVs are growing at a double-digit rate (11%).

Stock in the market

The surging prices of low-emission vehicles can be attributed to supply and demand. On Auto Trader, the UK’s largest automotive digital marketplace, AFVs currently account for just 1% of stock listed, whilst petrol and diesel account for 52% and 47% respectively.

“When it comes to low-emission vehicles, the industry is facing a Catch-22 situation. The growing appetite of AFVs offer the industry a great opportunity for growth, but for mass adoption, the average price needs to be more accessible to more people. However, with so few vehicles in the market, even second-hand cars are being pushed out of financial reach for most consumers,” explains Karolina Edwards-Smajda, Auto Trader’s Director of Commercial Products.    

Searches for diesel cars is at an all-time low

The numbers of people searching for diesels continues to decline, with just 41% of all fuel related searches on Auto Trader for the fuel type. Petrol is gaining the share lost by diesel, accounting for 52% of all fuel related searches. Searches for AFVs remains flat at 7%.

[1] Auto Trader Retail Price Index - July 2017

For your chance to win a £250 Amazon voucher just post a pic of your sticker in your dealership using the #ATHighlyRated hashtag on either Twitter or on LinkedIn & copy us in (@ATInsight or Auto Trader Insight). For full terms & conditions, just visit: https://t.co/QyRcG7gj3h https://t.co/6IA7e3I5q0
Many of the UK's very best retailers will be receiving their #ATHighlyRated stickers this week in recognition of providing an exceptional car buying experience, resulting in consistently high reviews from their customers. From all of us at Auto Trader a huge congratulations https://t.co/WzWzqm74E4
We've launched the 2nd edition of our Car Buyers Report examining how the car buying journey has evolved since 2017. We explore the process & identify the challenges, the accelerators to purchase & of course the opportunities! Download your free copy here https://t.co/IVBtryHlUf https://t.co/Jk86YHkEcl
Congrats to Lewis and everyone at Poolfoot Motors for your much deserved #ATHighlyRated recognition 👍 https://t.co/spbNfgJd77
If you're in the Chichester area then why not join our free Masterclass on the 16th July? You'll hear the latest industry research & best practice from the UK's most successful retailers helping you sell more cars, faster, & for more profit. Sign up here https://t.co/zraCdB1UUj https://t.co/5YFuQ7jk5k
Yess! Employer of the Year 2019 is @TrustFordUK massive massive congratulations! https://t.co/rhKEe3tSsK
Huge congratulations to everyone at Carbase for winning the Used Car Retailer of the Year #MotorTraderAwards https://t.co/MSr0QDRMRD
And Digital Initiative of the Year Franchise goes to...Chorley Group.. and the independent category goes to @CarbaseUK 🥂🥂
Congratulations to @ACCUKLTD for winning Independent Garage of the Year at tonight's #MotorTraderAwards https://t.co/GDD014dB5i
Excited for tonight's #MotorTraderAwards. 29 years of celebrating some of the best retailers in the business. Good luck to everyone 🤞 https://t.co/vlyALV5dkj

Auto Trader Group plc
Registered in England (Company number: 09439967)

Auto Trader Limited
Registered in England and Wales (Company number: 03909628)

Registered address:

1 Tony Wilson Place
Manchester
M15 4FN
VAT number: GB 614 8918 20

Keep in touch

We use social media to speak to the UK’s largest car buying audience