Average values for 3-year-old vehicles remain 4.7% higher than they were at the start of the year, with EVs continuing to lead market gains, according to Cazana.
Used EV values increased by around £400 (2.0%) month-on-month at the 3-year point. Excluding EVs, overall average market prices would have fallen by 0.3%.
Derren Martin, automotive expert at Cazana, said: “The used car retail market in October looked stable, which is hugely reassuring for the time of year, with volumes increasing from plate-change activity in September & October.
“Electric Vehicles continue to be the most sought-after, with a 2% price increase being significant.
“Land Rover is one to watch, and they never seem far from the news headlines, with relatively significant price drops on retail forecourts.”
EV values have risen for seven consecutive months, increasing by 3.6% (over £700) across the past two months and up more than 11% (c. £2,400) year-to-date.
Retail listings for 76-plate pre-registered vehicles (all fuel-types) jumped from over 2,500 at the end of September to more than 13,000 by the end of October.
Volvo led volume with 1,440 units, followed by Vauxhall (1,100) and Audi (825).
The Cupra Leon Hybrid was the fastest-selling model last month (15 days), followed by the Mercedes-Benz EQC and Ford Puma (petrol), both selling within 18 days.
Mini (+2.0%), Toyota (+1.7%), and Kia (+1.5%) were the strongest performing manufacturers, while Land Rover fell 2.3% and Audi fell 0.8%.
High-volume petrol cars fell by 0.3%, while hybrids dropped by 0.5%, and diesel values fell 0.6%.
