Used car values hold steady despite economic uncertainty
Used car values remained relatively stable in April, with a 1.2% decline at the three-year, 60,000-mile benchmark, according to Solera Cap HPI. Battery Electric Vehicles (BEVs) showed signs of recovery, with some models experiencing gains, while diesel vehicles were the weakest performing fuel type.
Used car values remained resilient in April despite economic uncertainty linked to the Iran conflict. Values at the three-year, 60,000-mile benchmark fell by 1.2% in April, equivalent to around £220. The decline is in line with long-term seasonal trends, with the latest movement comparing favourably to the average -1.6% decline from April to May. Superminis recorded the steepest percentage fall, down 1.9%, while BEVs proved more resilient with a smaller 0.9% decline. Some BEV models, such as the Subaru Solterra, rose by 5.3%, followed by the Mini Cooper at 5%. Diesel was the weakest performing fuel type overall, with values down 1.3% at the three-year benchmark.
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