Diesel – searches down, sales steady, values up
In spite of the low search numbers, prior sales figures remain strong. Used diesel sales actually increased by 0.3 percent over the course of 2018.
As for values, the rate of growth for used diesel values actually accelerated, up from 2.6 percent in January 2018 to 4.5 percent in January 2019. That leaves the average value of diesel cars at £14,514.
That doesn’t necessarily reflect any heightened appeal or value of diesel itself, perhaps rather the heightened value of a market flooded with younger and younger second-hand cars.
Petrol and alternative fuel vehicles
Prices for petrol vehicles, in contrast to the diesel jump, actually eased. January 2018 saw petrol car prices grow 10.7 percent, while the same period this year saw just a 3.7 percent growth, to an average of £11,374.
Still, people are more curious about petrol than ever before. As above, searches are at a record high of 48 percent.
Alternative fuel vehicles (hybrids, electric cars) had an incredible increase in sales according to industry results, with an increase of 26.9 percent in 2018.
However, prices were, similar to petrol, staggered. January 2018’s AFV price growth was 8.4 percent, while January 2019’s was 4.6 percent, with an average price of £21,399.
In reality, searchers are less specific about what they want to fuel their cars than ever before.
“Fuel represents just one in five searches on our marketplace, so whilst the sustained decline in diesel is significant, it’s not representative of all consumers,” said Karolina Edwards-Smajda, Auto Trader’s commercial product director.
“Rather, with the percentage of fuel searches declining from 25 percent to 20 percent in just 18 months, it highlights that car buyers are becoming increasingly agnostic. Our research consistently shows that they’re not limiting their search to a type, but instead considering all as part of their next car journey; new, used, petrol, diesel, or electric. Retailers should be marketing to them accordingly.”