Used diesel prices have hit their highest level in 18 months on the back of rising demand and falling supplies, Autorola has reported.

Neil Frost, Autorola UK’s country manager

Prices rose by 5.1% (£891) from £17,462 in Q2 to £18,353 in Q3, their highest price since Q1 2022. That’s despite average age and mileage increasing to 43 months and 33,343 miles in Q3, as older cars continue to enter the wholesale market following contract extensions caused by new car supply problems in 2022.

Quarterly used diesel volumes continued to fall – accounting for 15.5% of all used cars Autorola sold during Q3, a fall from 19.5% in Q2.

Hybrid sales meanwhile rose to 14.3% in Q3 against 12.8% in Q2 while petrol remained the dominant fuel type, accounting for 66.5%, a rise of 2.9% from Q2. Electric vehicle market share however fell to 3.5% in Q3 from 3.9% in Q2.

“Dealer demand for some diesel models is exceeding supply, which is pushing up prices,” explained Neil Frost, Autorola UK’s country manager.

“Autorola’s diesel sales have slipped from 33.1% to 15.5% in the space of three years and are set to fall even further over the next year or two.

“That spells good news for current diesel owners, but bad news for dealers and consumers who must pay a premium for diesel ownership,” he added.