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AUTO TRADER: USED CAR PRICES UP AGAIN IN FEBRUARY BUT EV PRICES CONTINUE TO TUMBLE
Used car prices are continuing to rise with yet another month of growth recorded by Auto Trader.
Average retail used car prices have risen 0.7 per cent in February compared to January, says the used car marketplace.
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The average price of a used car advertised for sale on the classified advert site now stands at £17,880 – up 1.7 per cent on February 2022.
This annual growth is on top of the huge 32 per cent rise recorded this time last year.
While the rate of used car price growth has fallen back in the last year, there has been no crash in used car prices.
Comparing February prices to January, Auto Trader saw petrol cars go up by 3.3 per cent and diesel by 1.4 per cent.
However, the worrying drop in used electric car prices has continued with average used EV prices down -9.1 per cent.
The drop in electric cars is weighing down the overall used car market performance, said the firm.
Read the full article at CarDealer Magazine
