Used car prices 2023: top 10 models rising in value and the 10 biggest losers - from Kia to Telsa
City cars continue to climb as high-end EVs plummet in value
Used car prices in the UK have calmed down but continue to rise, according to the latest figures from marketplace Auto Trader.
The latest data from the online marketplace shows that average second-hand values have now risen for 40 months in a row but the growth has softened significantly.
Over the last two years average used values rocketed by as much as 30% as poor availability of new cars increased demand on the secondhand market. In recent months new car supply has improved and used price increases have softened but the latest figures from Auto Trader show that by mid-July, prices were still up 3.2% on last year.
Although the crazy increases of 2022, when some individual models jumped in value by more than 40%, have disappeared, July's figures show that the average price of some cars is still 20% higher than a year ago. At the same time, some models, including high-end electric cars have fallen in value by a similar amount.
Here, according to Auto Trader’s latest figures are the biggest winners and losers.
1. Peugeot Partner Tepee, £10,554 (+21.3% year-on-year)
The Partner Tepee isn’t the kind of car young petrolheads have a poster of but it is a smart people carrier that’s clearly much in demand. Based on a van but with seating for up to seven people it’s a versatile and spacious load lugger that also comes with a range of frugal and low-tax diesel engines.
2. Fiat Panda, £6,774 (+15.7%)
The Panda is the first in a number of city cars soaring in value and shows that in these tough times, many buyers are looking for cheap, small cars with low running costs. Fiat has a fine tradition of building low-cost but fun small cars and the Panda keeps that reputation up with its quirky styling and a range of lively but economical petrol engines.
3. Suzuki Jimny, £11,096, (+15.0%)
The Jimny is another compact model soaring in value but unlike the Panda, it’s far more at home off the beaten track than in the city centre. Whether you’re looking at the current generation or an older model, the Jimny is a massively capable and characterful mini off-roader but not the most comfortable or refined option for long distances.
4. Volkswagen Up, £9,028, (+13.8%)
Like several city cars on this list, the Up is a great first car choice for new drivers. Its compact size makes it easy to manoeuvre and its choice of engines offer adequate but manageable performance along with decent fuel economy. It’s also cheap to insure, good looking and surprisingly roomy for such a tiny vehicle.