AM Online

Used hybrid car values rise 18.7% in Q2, says Autorola

Jon Mitchell, Autorola UK’s group sales director

Demand for used hybrid cars has risen in the last quarter, pushing wholesale prices up by 18.7% to an average of £17,591.

The figures, from Autorola, show hybrid prices jumped by more than £2,700 despite being the oldest of any fuel type, with an average age and mileage of 36 months and 21,385 miles.

Hybrids accounted for 5.3% of the used cars sold online during the quarter, with volumes doubling since Q1 2020. In Q2 2021 petrol cars accounted for 55.6% of sales and diesels 38.5%.

Jon Mitchell (pictured), Autorola UK’s group sales director, said: “We generally have 10,000 used cars on our MarketPlace online portal, and this has fallen by two thirds to nearer 3,500 such has been the high demand from dealers searching for stock. We are constantly signing up new dealers looking to buy replacement used stock.

“Our online ex-lease and rental auctions have reported 100% conversion rates since the beginning of the year. We could sell double the volume of cars we are currently offering through our weekly online auctions.”

Used hybrid cars are gaining popularity in the used car market, according to recent sales data from Indicata.

Sales of used hybrid models grew by 8% in May – the same as petrols - while the stock turn of hybrids was up by 24% in the same month.

Diesel models saw the largest growth, with a 10% uplift in sales.

Electric cars, meanwhile, continue to be hampered by high values when compared to petrol or diesel equivalents.



If you are not a registered user your comment will go to AM for approval before publishing. To avoid this requirement please register or login.

Login to comment

Comments

No comments have been made yet.