Auto Trader: Average asking prices up almost a third in two years
The average price of a three-year-old car with between 20,000 and 30,000 miles on Auto Trader grew by 32% between April 2013 and April 2015.
In April 2013, the average asking price was £16,586. This increased to £19,045 in April 2014, and increased again to £21,844 in April 2015.
In order to find this data, Auto Trader looked at individual ad views.
Karolina Edwards-Smajda, trade solutions director at Auto Trader,said: “More than half of buyers now arrive on a forecourt without any prior contact with a dealer so the ad view is now one of the best means of focusing on potential leads or those with an intention to buy.”
Edwards-Smajda said:”Our analysis implies that buyers are willing to pay significantly more for good quality cars than they were two years ago.
“That might seem surprising, considering noise in the marketplace around volumes of pre-registered vehicles. However, prices haven’t softened, consumer confidence continues to improve and demand is outstripping supply.”