The volume of used diesel cars at auctions has slumped and reached an all-time low in the second quarter.
In its latest monthly used market report, Aston Barclay said that 42.7% of its stock in Q2 was diesel, which fell from 46% in Q1.
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Aston Barclay said that the fall is a sign that used diesel volumes are falling to coincide with new car fuel trends.
During the quarter under review, diesel prices remained consistent at £8,302 and saw a fall of just £32 over Q1.
In contrast, prices of used EVs soared by 11.7% during Q2 to reach a new record price of £31,349.
EV sale volumes also increased in Q2 by a third over Q1 and now make up around 1.5% of Aston Barclay’s sales.
Prices for used fleet slumped by an average of 2.5% (£405) to £15,278. Notably, this is the third successive quarter where average prices were in the £15,000s.
Aston Barclay’s report found that used late and low (0-24 months) and budget (126 months +) cars continued to buck the trend with a price increase of 2.9% (£696) and 1.2% (£26) to £23,941 and £2,075, respectively.
Additionally, the firm also saw vendors and buyers investing in refurbishment pre and post-auction.
It refurbished 10% of used cars in Q2 and expects that to rise to 15%.
Aston Barclay chief customer officer Martin Potter said: “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.
“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.”
Earlier this week, Vehicle Remarketing Association said used car supply may never return to its pre-pandemic levels due to the change in auto manufacturers’ selling strategies.
