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Auto Trader has revealed the used cars that shot up inn value over the past 12 months in contrast to the over market which saw the average value fall 7.5%.
The top five used cars that increased in value over the year were the Volkswagen Beetle, which rose 10.5%, followed by the Suzuki Jimny, up 8.2%.
The Toyota Land Cruiser was in third slot with a 6.4% gain, followed by the Jeep Cherokee, up 6% and Mercedes-Benz M Class, up 4.6%.
At the other end of the spectrum the Volkswagen ID3 fell -24.7% and the Hyundai IONIQ (-24.5%).
The BMW i3 saw a -24.4% decline, closely followed by the Tesla Model S (-23.9%) and Fiat 500e (-22.6%).
Auto Trader said the used car market got off to a confident start in January but reiterated that dealers were under-pricing “exceptionally high demand stock” fuelled by recent falls in the wholesale values.
It said 46,000 cars with a high “Retail Rating” – a measure of how fast a car is likely to sell if priced at its market value – have been advertised below their market average from the first day of being listed.
Richard Walker, Auto Trader data & insight director, said: “As well as our own metrics, it’s reassuring to see broader economic indicators pointing to stable and robust market conditions, including the latest consumer confidence data, which reached a two-year high in January.
“Although fewer than we’ve seen previously, given such positive market fundamentals, it’s disappointing to still see stock being priced under their true market value, particularly what we would call the best-of-the-best.
“By not applying a retail-back approach to pricing, retailers are at risk of selling themselves short and missing out on significant profit opportunities.”
Top 10 used car price growth (all fuel types) | January 2024 vs January 2023 like-for-like
[| Ranks | Make | Model | Jan 24 Average Asking Price | Price Change (YoY) | Price Change (MoM) |
|
| 1 | Volkswagen | Beetle | £7,849 | 10.5% | -0.2% | |
| 2 | Suzuki | Jimny | £12,268 | 8.2% | 2.0% | |
| 3 | Toyota | Land Cruiser | £32,849 | 6.4% | -0.3% | |
| 4 | Jeep | Grand Cherokee | £16,172 | 6.0% | -1.6% | |
| 5 | Mercedes-Benz | M Class | £11,719 | 4.6% | -2.7% | |
| 6 | Dacia | Sandero | £8,305 | 4.4% | -1.4% | |
| 7 | Dacia | Sandero Stepway | £9,566 | 4.0% | -1.9% | |
| 8 | Audi | RS4 Avant | £45,258 | 4.0% | -1.0% | |
| 9 | Volvo | V70 | £7,461 | 3.9% | -2.3% | |
| 10 | Peugeot | Partner Tepee | £9,185 | 3.8% | -2.1% | |
Top 10 used car price contraction (all fuel types) | January 2024 vs January 2023 like-for-like
| Rank | Make | Model | Jan 24 Average Asking Price | Price Change (YoY) |
Price Change
(MoM) |
||
| 10 | Hyundai | KONA | £18,308 | -19.0% | -3.4% | ||
| 9 | Volkswagen | ID.4 | £34,110 | -19.1% | -3.1% | ||
| 8 | Porsche | Taycan | £84,572 | -19.5% | -0.1% | ||
| 7 | BMW | i4 | £49,476 | -20.0% | -0.7% | ||
| 6 | DS AUTOMOBILES | DS 3 CROSSBACK | £15,209 | -20.9% | -3.8% | ||
| 5 | Fiat | 500e | £19,668 | -22.6% | -3.0% | ||
| 4 | Tesla | Model S | £30,613 | -23.9% | -3.1% | ||
| 3 | BMW | i3 | £16,283 | -24.4% | -2.6% | ||
| 2 | Hyundai | IONIQ | £14,969 | -24.5% | -2.8% | ||
| 1 | Volkswagen | ID.3 | £24,884 | -24.7% | -2.8% | ||