Used diesel prices on the increase
Used diesel prices have risen over the last year despite the downturn in the new car market.
Although latest SMMT data shows diesel car registrations fell 37.2% in the first three quarters of 2018, analysis of the Auto Trader Retail Price Index shows the average price of a used car in March was £12,732, a 6% increase on the same period last year on a like-for-like basis (stripping out the impact of changes in the mix of cars being sold). March actually saw the highest level of price growth since May 2015.
However, although diesel remains the most searched-for fuel type, the proportion of searches for petrol vehicles increased last month from 43% to 45%, while growth in used petrol prices continues to outstrip diesel, with year-on-year growth of 10% in March on a like-for-like basis.
Karolina Edwards-Smajda, Auto Trader’s retailer and consumer product director, said: “This is comprehensive data that is clearly pointing towards a resilient pricing environment. However, we have seen price growth start to flatten out, both in diesel and overall, since the end of last year.
“A huge number of consumers have been deterred from diesel but don’t realise that modern Euro 6 technology can be significantly more fuel-efficient, and often more environmentally-friendly, than petrol.”
Earlier this week, the Vehicle Remarketing Association (VRA) said used diesel demand is “currently very, very healthy” as it called on the Government to take action on diesel taxes and ensure better information on diesel is provided.