A price hike that’s far from MINI: iconic British brand leads 30% uplift in price of used cars
Motorway data shows there’s never been a better time to sell a used car as hot hatches and estates show highest increases since 2021
Second-hand car prices have risen 30% over the last twelve months according to leading used car marketplace Motorway.co.uk. The increase has been driven by lengthy waiting times for new cars, which has meant that motorists have turned to the used car market.
Leading the price increases have been hot hatches (where prices have increased on average 35.8% year-on-year) and the estate market (where prices are up 32.8% on average).
For example, an average Mini Cooper would have fetched £5,056 in February 2021 whereas prices have reached £9,627 in 2022. Meanwhile, a Volkswagen Polo Match 60 that would have netted a sale price of £3,508 a year ago will generate £6,229 on average today.
The highest rises across makes and models between 2021 and 2022
|VOLKSWAGEN||Polo Match 60||£2,318||£4,044||74.46%|
|FORD||Fiesta Titanium Turbo||£7,493||£12,201||62.84%|
|VOLKSWAGEN||Polo Match TSI||£8,233||£12,942||57.19%|
|BMW||520D M Sport||£12,797||£19,921||55.66%|
|NISSAN||Qashqai Tekna DCI||£8,650||£13,038||50.73%|
* based on real prices paid by dealers on Motorway.co.uk for a vehicle during February 2021 and February 2022.
Alex Buttle, co-founder at Motorway, said:
“With wait times of up to 12 monthsfor a new car due to supply problems, motorists have turned to the used car market to get their next car, which means that many dealers are on the hunt for new stock. There’s never been a better time to sell. From hot hatches to family saloons, SUVs to sports cars, we’ve got dealers searching for used cars and willing to pay for a wide range of quality stock.”
The highest increases by category*
|Body Type||2021||2022||% Increase|
* based on real prices paid by dealers on Motorway.co.uk for a vehicle during February 2021 and February 2022
Motorway, founded in 2017, has seen interest in online car sales surge over the pandemic as volumes grew 188% between February 2021 and February 2022. Motorists value the car they want to sell, profile their vehicle and then agree a reserve price – guided through the process by Motorway – and over 5,000 dealers across the country bid for their vehicle.
Alex Buttle added: “Before Motorway, drivers had to accept the best price they could find from dealers themselves – and spend the time going from dealer to dealer to secure it. Now they can get a great price from dealers across the country in just a few clicks and, almost regardless of the make or model, there is likely a dealer out there searching for every car our customers are selling.”
To find out more and to get a free car valuation, visit Motorway.co.uk.
Notes to editors
For further information about wait-times for new cars see here for reference: https://www.honestjohn.co.uk/news/car-market-1/2022-03/2022-new-car-prices-rise-by-up-to-26-per-cent/
For further information, contact firstname.lastname@example.org or the team on 020 3588 9700
Motorway is the UK’s fastest-growing used car marketplace. We connect people selling their car directly with our network of more than 5,000 verified car dealers, matching each seller on our platform with the dealer who most wants to buy their car. We help car owners sell their cars 100% online for the best price in as little as 24 hours, with their car collected from home for free, while supporting our car dealer partners to easily acquire the best used car stock.