Used car prices 38% up in three years
New data has revealed the lasting impact of the Covid-19 pandemic on prices of Britain’s best-selling used cars.
On 1 June 2020, the UK government allowed car showrooms to welcome back customers following the first wave of the pandemic. Since then, the average used vehicle price in the UK has gone up 38% compared to pre-pandemic levels.
CarGurus has analysed vehicle price data for Britain’s current top 10 best-selling used cars to examine how much pricing has changed for three-year-old models between June 2020 and April 2023, and its data has revealed that every car has increased significantly in price.
The biggest price appreciation was the Vauxhall Corsa, which has risen £7,974 to £14,808, an 86% increase.
Meanwhile, the Ford Fiesta and BMW 1 Series both increasing by 64% to £15,878 and £25,156 respectively. Also making the top five were the MINI and VW Polo.
Kevin Roberts, director of industry insights and analytics, said: “Our data shows just how significant the impact of the pandemic has been for Britain’s used car market, particularly for best-selling used cars as we reach the three-year milestone since car dealerships re-opened on 1 June 2020. While the average used vehicle price is 38% higher than pre-pandemic levels, there are rays of hope for used car buyers looking to find savings, with hatchbacks, MPVs, EVs and other body types that present buyers with the best deals available today.”
