Used car prices will rise in 2025 as a result of a shortfall of cars compared with pre-Covid levels, according to Autorola.
As a consequence of Covid-19, the market saw just 1.61m new cars registered. Now, 2025 may face a shortfall of between 500,000 and 700,000 used cars and prices rising because demand exceeds supply.
Neil Frost, Autorola UK’s country manager, said: “Q4 2024 provided us with an early sign of used prices rising and this trend will continue throughout 2025 and into 2026 because of the large shortfall in used cars coming into the market.
“That means strong competition for used stock in the wholesale market which will translate into higher retail prices for consumers.”
In Q4 2024, the used car market experienced an unseasonal rise in prices for all fuel types sold on Autorola’s platform.
From Q3 to Q4, petrol cars saw a 6.4% increase (£934) to £14,454 at 40 months and 22,486 miles. Hybrids delivered a 3.1% price increase (£663) to £21,386 at 35 months and 20,018 miles.
EV prices rose by 3.1% (£381) to £18,668 at 28 months and 17,514 miles while diesel prices rose 0.7% (£125) to £18,668 at 43 months and 32,607 miles.
While diesel market share fell to a record low of just 17.2%, petrol remained the dominant fuel type taking 61.9% of used cars sold online. Hybrid market share rose to 17.8%, while EVs fell to 3.0%.
