Diesel demand and ex-fleet stock prices remain strong in 2020
Used diesel sales are far from dead, with online prices up 8.5% in 2020, while EV prices “went through the roof” to the detriment of sales, according to Autorola.
Its data for last year shows diesel prices rose by an average of £1,088 to £13,847 – based on an average age and mileage of 35 months and 25,404 miles. Nearly four in ten (37.4%) of used cars Autorola sold online for dealers and fleet vendors in 2020 were diesels.
Pure electric vehicle prices rose by 24.8% (£3,975) to £19,978 at 24 months and 14,328 miles – but Autorola warned that the gap between diesel and petrol cars is too high and is preventing cars from being sold, leaving them sitting on forecourts.
Surprisingly, used hybrid prices actually fell in 2020 by £176 (-1.4%) from £16,778 to £16,602 as average age rose from 31 to 34 months and average mileage fell from 24,696 miles to 22,632 miles. They also continue to make up a minor part of the market; just 2.9% of the thousands of used cars Autorola sold in 2020 were hybrid.
Meanwhile, the numbers of EVs sold online was even smaller. Only 0.8% of Autorola sales in 2020 were electric, with Autorola adding that this backs reports that zero-emission motoring is still not transferring to the used market where volumes and sales are still relatively small.
Used petrol cars however also remained strong and accounted for 58.9% of Autorola sales in the year. Prices rose by an average of 2.9% (£303) from £10,403 in 2019 to £10,706 in 2020 based on an average age and mileage of 32 months and 19,336 miles.
“Diesel demand and prices for dealer part exchanges and ex-fleet stock have both been strong during 2020 and there are no signs of it falling which is good news for the trade and consumers alike,” explained Jon Mitchell, Autorola UK’s group sales director.
“We are definitely seeing a rise in demand for electric cars in the used market, but prices are still trying to find their level. Not surprisingly it will take a while until we start to see higher volumes reaching auction and, in the meantime, the EV prices in the used value guides should be used sparingly as every single car we sell seems to be worth a different amount to individual buyers,” he explained.