Biggest lockdown price increases revealed by Auto Trader

Autotrader has revealed which used cars attracted the highest price increase during lockdown.

The Renault Scenic sits at the top of the chart, with three to five-year-old models attracting an additional £1,302 between April and May.

It was the Dynamique Nav model, with a diesel engine, specifically that attracted the steepest hike.

The research is based on pricing analysis of around 900,000 vehicles, with data analysed by Auto Trader’s data scientist

In terms of body type, SUVs retained their pre-Covid-19 popularity with six making it onto the top 10, recording an average increase of 12.3% between them over the same period.

The list of cars that saw their sticker prices fall the most during lockdown was led by the Volvo V40 Inscription. The diesel manual variant, aged between three and five years, saw the greatest average price drop of any used car in the UK between April and May, receiving an average cut of £493. 

The decline in price observed on the list was slight however, with the biggest fallers only averaging a 2.8% decrease, highlighting retailers have largely held firm during the pandemic and have not significantly lowered their prices.

Auto Trader’s data and insight director Richard Walker said: “It’s really positive data, as we can see the price reductions are far less than the price increases which is a very encouraging position for the market. These reductions are also still well within the ranges of daily price movements we see in a normal market, which indicates that retailers haven’t been panic slashing prices. With consumer demand bouncing back, retailers should stay strong with their prices, and ensure that their stock and their prices are right for their specific geographic area – our AT Market Insight tool can help them do that.”

Largest asking price increase between April – May 2020:

Largest asking price decrease between April – May 2020: