Auto Trader has revealed which used cars saw the greatest price increase during lockdown, and which saw the steepest decline.
Based on pricing analysis of circa 900,000 vehicles, Auto Trader’s data scientist identified the Renault Scenic Dynamique Nav (diesel – manual) as the model which received the greatest month-on-month price increase. The three to five-year-old variant of the French family favourite recoded an average price hike of £1,302 (+15.7%) between April and May.
In terms of body type, SUVs retained their pre-COVID-19 popularity with six making it onto the top 10, recording an average increase of 12.3% between them over the same period. The list of cars that saw their sticker prices fall the most during lockdown was led by the sturdy Scandinavian Volvo V40 Inscription. The diesel manual variant, aged between three and five years, saw the greatest average price drop of any used car in the UK between April and May, receiving an average cut of £493.
The decline in price observed on the list was slight however, with the biggest fallers only averaging a 2.8% decrease, highlighting retailers have largely held firm during the COVID-19 pandemic and have not significantly lowered their prices. And with such strong consumer demand in the market – Auto Trader is currently recording an average of over 2 million visits to its marketplace every day – there is no reason for them to do so.
Commenting on the price observations, Auto Trader’s Data and Insight Director, Richard Walker, commented: “It’s really positive data, as we can see the price reductions are far less than the price increases which is a very encouraging position for the market. These reductions are also still well within the ranges of daily price movements we see in a normal market, which indicates that retailers haven’t been panic slashing prices. With consumer demand bouncing back, retailers should stay strong with their prices, and ensure that their stock and their prices are right for their specific geographic area – our AT Market Insight tool can help them do that.”
Largest asking price increase between April – May 2020:
Rank | Make / model / trim | Age | Fuel & transmission | Price change (£) | Price change (%) | ||||||
1 | Renault Scenic Dynamique Nav | 3 - 5 years | Diesel - Manual | £1,302 | 15.7% | ||||||
2 | Peugeot 3008 Allure | 3 - 5 years | Diesel - Automatic | £1,536 | 14.9% | ||||||
3 | Peugeot 3008 Allure | 3 - 5 years | Diesel - Manual | £1,477 | 13.6% | ||||||
4 | Peugeot 2008 GT Line | up to 1 year | Petrol - Manual | £1,846 | 12.1% | ||||||
5 | Mercedes-Benz B-Class Sport | 1 - 3 years | Diesel - Automatic | £1,913 | 12.1% | ||||||
6 | Renault Megane Dynamique Nav | 3 - 5 years | Diesel - Manual | £753 | 11.3% | ||||||
7 | Audi Q5 S line | 3 - 5 years | Diesel - Automatic | £2,196 | 11.1% | ||||||
8 | Toyota Yaris Icon | up to 1 year | Petrol hybrid - Manual | £1,566 | 11.1% | ||||||
9 | Peugeot 3008 Allure | 3 - 5 years | Petrol - Manual | £1,553 | 11.0% | ||||||
10 | Volkswagen Touareg R-line | 1 - 3 years | Diesel - Automatic | £3,242 | 10.9% |
Largest asking price decrease between April – May 2020:
Rank | Make / model / trim | Age | Fuel & transmission | Price change (£) | Price change (%) |
1 | Volvo V40 Inscription | 3 - 5 years | Diesel – Manual | -£493 | -4.0% |
2 | Volkswagen Passat GT | 3 - 5 years | Diesel - Automatic | -£542 | -3.9% |
3 | Vauxhall Insignia SRi Nav | 3 - 5 years | Diesel – Manual | -£224 | -3.0% |
4 | Vauxhall Insignia Design Nav | 3 - 5 years | Diesel - Manual | -£184 | -2.9% |
5 | Land Rover Range Rover Evoque Dynamic | 3 - 5 years | Diesel - Automatic | -£569 | -2.8% |
6 | Toyota AYGO x-trend | 1 - 3 years | Petrol - Manual | -£266 | -2.8% |
7 | Vauxhall Astra SRi | 3 - 5 years | Diesel - Manual | -£205 | -2.3% |
8 | Audi A4 Avant SE Technik | 3 - 5 years | Diesel - Manual | -£236 | -2.3% |
9 | Nissan Qashqai Acenta | 1 - 3 years | Petrol - Automatic | -£316 | -2.2% |
10 | Volkswagen up! GTI | 1 - 3 years | Petrol-Manual | -£275 | -2.2% |
