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Average monthly used car prices dipped in November for the first time in eight months, according to the Auto Trader Retail Price Index.
According to the research the average price of a used car in November was £12,589, a fall of £50 since October.
However Auto Trader said prices are 6% higher than last year on a like-for-like basis, stripping out the impact of changes in the mix of cars being sold.
In November, the average price of a used diesel saw a month on month fall of £143 to £14,412. However, on a like-for-like-basis, diesel recorded an annual increase of 3%. Diesel remained most searched for fuel type on Auto Trader, representing 55% of all fuel searches in November
The average price of a used petrol car increased £55 month-on-month, reaching £10,342. On a like-for-like basis, this equates to a year-on-year increase of 11%.
The Auto Trader Retail Price Index uses data from around 500,000 trade used car daily listings, pricings from over 3,000 car dealer websites, disposal prices from OEMs, fleets and leasing companies, as well as data from auction houses across the UK.
Commenting on the findings, Karolina Edwards-Smajda, Auto Trader’s retailer and consumer product director, said: “The negative rhetoric surrounding diesel, which has been fuelled by the government’s recent announcements is undoubtedly contributing to the decline in new and used car sales and has impacted used car prices in November.
“Although used diesels have been showing much greater resilience, with their value continuing to increase year-on-year, as well as remaining the most searched for fuel type on our marketplace, the Index does show a small month-on-month decline for the first time in eight months. It’s too early to tell whether this is an emerging trend or not, so we will continue to monitor prices closely.”