The volume of used diesel cars going under the hammer reached an all-time low in Q2, as used EV prices hit a new record. 

Martin Potter, Aston Barclay’s chief customer officer

EV prices hit record high, reports Aston Barclay New data from Aston Barclay shows 42.7% of its stock in Q2 were diesel, a fall from 46% in Q1 and the first major sign that used diesel volumes are falling to coincide with new car fuel trends. 

Diesel prices remained consistent at £8,302 in Q2, a fall of just £32 over Q1, while petrol prices fell by 1.6% (£122) to £7,447. 

But EV prices continued to surge, increasing by 11.7% (£3,289) to a new record price of £31,349. Sale volumes also increased in Q2 by a third over Q1, showing an increased EV presence at auction – they now account for 1.5% of Aston Barclay’s sales. 

Used fleet prices fell by an average of 2.5% (£405) to £15,278. But it’s the third successive quarter where average prices were in the £15,000s and Aston Barclay said this reinforces the sector’s stability. 

Late and low (0-24 months) and budget (126 months +) used cars continued to buck the trend with price rises of 2.9% (£696) and 1.2% (£26) to £23,941 and £2,075, respectively. 

Also notable was a marked move by vendors and buyers to invest in refurbishment – both pre- and post-auction – as wholesale demand and retail prices continue to slow. Aston Barclay refurbished 10% of used cars in Q2 and predicts this could rise to nearer 15% as parts availability and bodyshop slots remain compromised. Typically, a vendor’s £100 investment is seeing a £400 return as dealers invest in improving a car’s condition to speed up its retail sale. 

“Q2 has thrown up some interesting trends. Diesel volumes fell 3.3% from Q1 to Q2, but we believe that once more ex-fleet used cars reach auction, diesel volumes will start to rise again,” explained Martin Potter, Aston Barclay’s chief customer officer. 

Potter also noted that the overall used market is slowing down, with price increases only for the right stock.  

“Refurbishment levels continue to rise as vendors make their used cars as attractive as possible to increase conversion rates while buyers are handing over the hassles of improving a car’s condition to us, so they arrive at the dealership retail-ready,” he affirmed.