The UK used car market remained stable in April, with retail prices edging up, vehicles selling more quickly, and sales volumes growing, according to new data from Auto Trader.

Despite ongoing economic and political uncertainty, the average retail price of a used car rose 1.5% from March to April—marking the strongest month-on-month growth since April 2023. It was also the first time in 19 months that year-on-year prices did not decline, holding steady compared to April 2023.

Auto Trader reported particularly strong demand for older vehicles. Prices for cars aged 5–10 years increased 1.5% month-on-month and 1.1% year-on-year, reaching £13,866. Vehicles over 10 years old saw even sharper growth, with prices rising 3.3% month-on-month and 1.4% year-on-year to £6,545.

In contrast, nearly new cars (under one year old) experienced slower growth due to increased supply. Their prices rose just 1.3% month-on-month and dropped 4.4% compared to last year.

Used cars also sold faster than ever, averaging just 27 days to sell in April—the fastest April on record for Auto Trader. Five to ten-year-old models sold even quicker, averaging 25 days. Consumer interest remained high, with 82.9 million visits to Auto Trader and a 1.3% year-on-year increase in sales volumes, despite the Easter holiday.

Trade values have recovered since autumn 2023 but are currently stabilising, particularly for younger vehicles. Retailers appear more confident in pricing, with 33% of cars listed above market value in April, up from 30% previously.

Still, Auto Trader estimates retailers are missing out on significant profit potential. Cars priced below market value represent £25 million in lost margin—an average of £2,820 per retailer or £390 per vehicle. Photo by KRoock74, Wikimedia commons.