According to the latest results from the Auto Trader Retail Price Index, despite the significant drop in new diesel car registrations last year, the value of used diesels recorded an average price of £13,944 in 2017.
This is an annual like-for-like price growth of two per cent for the year as a whole.
The average price of a petrol car was £9,471, representing an increase of seven per cent on a like-for-like basis for the year.
The Auto Trader Retail Price Index combines and analyses data from c. 500,000 trade used car listings every day, as well as additional dealer forecourt and website data (OEM, fleet and leasing disposal prices, in addition to pricing data from over 3,000 car dealership websites and data from major auction houses across the UK), ensuring the Index is an accurate reflection of the live retail market.
When analysing average retail prices by fuel type, diesel prices recorded a drop of -£143 between October and November. However, prices stabilised in December, increasing £71 on the previous month, with an average of £14,483. This represents a three per cent like-for-like increase on December 2016.
Prices of used petrol cars have continued to outperform diesel in 2017. Between November and December, prices increased £283, to an average of £10,625. On a like-for-like basis, prices of used petrol cars have grown 11 per cent between December 2016 and December 2017.
Commenting on the findings, Karolina Edwards-Smajda, Auto Trader’s retailer and consumer product director, said: “It’s extremely heartening to see that despite the ongoing economic uncertainty surrounding Brexit and the negative tone of the fuel debate, used diesel prices are retaining their value.
“The government’s demonisation of diesel really isn’t helping to build consumer confidence, and nor is it justified as many modern Euro 6 engines are less harmful than their petrol equivalents. Diesels remain an excellent option for many motorists, particularly those that drive long distances and are looking for the efficiency only a diesel can offer.”