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Auto Trader has revealed the used cars that have depreciated the most over the past year with many EVs badly hit.
The average price of a used car generally was £17,732 in August, marking a 1.1% increase year-on-year (YoY).
But the average price of a used EV was £31,618, down -22.6% YoY in August due to supply continuing to outpace demand.
The worst performing vehicle range was the Audi e-tron where the value fell 24.9% YoY to an average asking price of £28,859 in August 2023.
The second worst performance came from the MINI Electric which fell 23.9% to an asking price of £23,482 in August YoY.
Other models that that saw marked declines in values year on year were the Peugeot e-208 which fell -22.5% to £21,303, Porsche Taycan (-22.1% to £91,252) and Vauxhall Corsa-e (-19.4% to £20,055).
But other models performed strongly. The Volkswagen Beetle saw a 17.6% increase in August YoY to £7,948. While the Hyundai 1×20 rose 12.8% to £9,191.
The Vauxhall Antara, Peugeot Tepee, Dacia Sandero and Fiat Panda all showed double digit growth over the year.
Auto Trader director of data and Insight, Richard Walker, said: “We’ve been seeing growing levels of volatility in the market over recent months as levels of COVID related new car supply gradually improves.
“However, headline figures can be deceiving, and as ever the devil is in the detail, because contrary to what it may suggest, the market remains full of pockets of profit potential.
“Our figures should serve as a clarion call for retailers: in such a nuanced market it’s vital to follow the data, and not the headlines to inform pricing and stocking strategies.
“As supply levels of younger stock improves, particularly of electric vehicles, it’s likely we’ll continue to see a softening in prices over the coming months.
“However, with no sign of a dramatic change in consumer appetites, there’s certainly no indication of prices falling off a figurative cliff edge.
“There’s still very strong pricing pockets available, including with used EVs – the demand is there, so if retailers use data to buy them and sell them at the right price, there’s plenty of profit potential available.”
Top 10 used car price contraction (all fuel types) | August 2023 vs August 2022 like-for-like
| Rank | Make | Model | Aug 23 Average Asking Price | Price Change (YoY) |
Price Change
(MoM) |
| 10 | Toyota | C-HR | £21,531 | -10.2% | -0.1% |
| 9 | Hyundai | KONA | £19,929 | -10.3% | 0.9% |
| 8 | Toyota | Corolla | £19,949 | -10.4% | -0.1% |
| 7 | DS AUTOMOBILES | DS 3 CROSSBACK | £17,535 | -10.9% | 0.4% |
| 6 | Hyundai | IONIQ | £16,935 | -15.9% | -0.1% |
| 5 | Vauxhall | Corsa-e | £20,055 | -19.4% | 1.9% |
| 4 | Porsche | Taycan | £91,252 | -22.1% | 0.2% |
| 3 | Peugeot | e-208 | £21,303 | -22.5% | 1.3% |
| 2 | MINI | Electric | £23,482 | -23.9% | -1.1% |
| 1 | Audi | e-tron | £39,859 | -24.9% | 2.3% |
Top 10 used car price growth (all fuel types) | August 2023 vs August 2022 like-for-like
| Ranks | Make | Model | Aug 23 Average Asking Price | Price Change (YoY) | Price Change (MoM) |
| 1 | Volkswagen | Beetle | £7,948 | 17.6% | 0.9% |
| 2 | Hyundai | ix20 | £9,191 | 12.8% | 3.8% |
| 3 | Vauxhall | Antara | £5,190 | 11.6% | 5.9% |
| 4 | Peugeot | Partner Tepee | £9,743 | 11.5% | -2.0% |
| 5 | Dacia | Sandero | £8,130 | 11.3% | 0.3% |
| 6 | Fiat | Panda | £6,316 | 10.8% | -0.5% |
| 7 | Volkswagen | up! | £8,804 | 9.9% | -1.3% |
| 8 | Hyundai | i30 | £10,057 | 9.8% | -2.3% |
| 9 | Hyundai | i10 | £8,487 | 9.5% | -0.5% |
| 10 | Volkswagen | Beetle | £7,948 | 17.6% | 0.9% |