Used car prices continue falling after pandemic
Average used car prices fell 4.3% across London, according to new data released by online marketplace MOTORS.
It’s November Market View revealed that average used car prices dropped from £24,043 to £23,014 month on month.
This was the second successive month of falling prices, after seven straight months of price increases – although it remains significantly above the national used car price average of £17,961.
Across the wider South East region, average prices fell by 1.7% from £18,077 to £17,776.
Meanwhile, East Anglia saw average used car prices fall by 0.9% in November while the South West saw a 0.8% fall.
However, Scotland saw a 2.6% rise in used car prices during the month, from £17,694 to £18,149, and prices in the North East rose 2.1% from £15,923 to £16,253.
Lucy Tugby, marketing director of MOTORS, said:
“November was a month of small but notable used car price corrections across the UK with London and the South East trending downwards but most regions seeing uplifts above the national average rise of 0.2%. Following the upward price movements that followed the pandemic, the market continues to reset with drops mostly across the more expensive regions.
