The latest report from Cap HPI highlights a significant trend in the used car market for April 2024, demonstrating a return to pre-pandemic pricing patterns and shedding light on the continuing challenges faced by electric vehicles (EVs). According to Cap HPI, prices for three-year-old vehicles with approximately 60,000 miles on the clock saw a decrease of about 1.5%, or £300. This change represents a natural alignment with seasonal trends, often influenced by factors such as the Easter break and market saturation after the first quarter's sales activities. The decline in used car prices, although consistent over two months, is not a cause for concern among dealers. The fluctuations align with historical trends and are considered part of the regular market cycle. This period saw petrol vehicles maintaining popularity, selling more quickly than other types of vehicles. Conversely, EVs and diesel-engine cars lagged, posing inventory risks for dealers. Particularly notable is the...
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