Average prices have increased for 17 consecutive months.
James Fossdyke reported on uk.motor1.co.uk website that the growth in the value of used cars has doubled in just three months amid supply shortages in the new car market, according to new data. Figures released by online used car marketplace Auto Trader show the average price of a used car hit £15,288 in August, marking 17 consecutive months of increases.
The Auto Trader data, which is based on analysis of around 900,000 used cars, shows price growth hit an all-time high in August, with a 17.2-percent increase in prices compared with the same month in 2020. That’s more than double the growth recorded in May, when prices were up by more than eight percent.