UK takes poll position with strongest used car pricing growth of 1.7% in July, says INDICATA

The price of electric cars rose by £2,525 in July, reaching £13,688. Similarly, hybrid cars rose by £1,461 to £16,156 compared with Q2, although supply was very limited as a result of the supply chain disruption as a result of the pandemic.

Unlike many European markets luxury cars and SUVs are the UK’s strongest market segments experiencing a 11.5% and 11% increase year-on-year.

Jon Mitchell (pictured), group sales director at INDICATA, explained: “July was a very busy month with demand exceeding supply. There are signs from some of our vendor customers that supply is starting to increase coming into August.

With the new plate change in September we should also see new part exchange stock coming into the market.”

“Despite that increase in supply prices look as though they will be strong during the summer, but we will have to wait to see how economic conditions will impact prices during the autumn.”