The average price of used cars sold through Autorola UK’s online remarketing portal fell by £394 in Q2 2017 to £9,237 just three months after the business celebrated a record breaking Q1 figure of £9,621.
Average mileage rose to 21,551 in Q2 and average vehicle age increased back to 33 months from 29 months in Q1.
Autorola extended its survey to include diesel and petrol prices to understand how demand for the two different fuel types are changing and found that the average diesel prices had fallen by £636 to £10,768, compared to petrol's £279 decline to £8,125.
Autorola UK’s group sales director, Jon Mitchell (pictured), said: “There were more used cars around in Q2 than Q1, that were older and with slightly higher mileages. All of these factors combined to contribute to prices falling.
“We saw diesel prices fall in Q2 faster than petrols, but we will have to wait a few more months to see if this was a one-off or the start of a more long term fall.”