Petrol and Diesel Cars Lead August's Depreciation Charts

In an intriguing twist of fate, the EV parade has temporarily taken a back seat in the monthly depreciation spectacle. Exclusive data divulged to Car Dealer by Cap HPI, the titans of trade values, have shed light on the cars that endured the steepest devaluation in August. Remarkably, only one electric vehicle (EV) has secured a spot on this notorious list.

Unlike the prevailing theme of 2023, where EVs usually dominate the second-hand market's depreciation drama, August emerged as an exception. The chart-topper, earning the dubious honour of leading the pack with a 14.5 per cent slide (£1,354), is the 2015-2019 SsangYong Tivoli SUV. Intriguingly, this time around, five of the top 10 sharpest fallers are diesel-powered machines, accompanied by two sprightly petrol-driven sports cars.

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Seemingly unfazed by the EV wave, the solitary electric contender in the rankings is the 2016-2020 Smart ForTwo electric. With an 8.8 per cent downturn (£808), it stands as a testament to the shifting winds of the automotive market. The values, meticulously analysed by Cap HPI, are gauged at the three-year, 30,000-mile milestone, representing averages across the board.

A marked departure from the norm, August's scene-stealing performance stands in stark contrast to the earlier months, where EVs usually held sway. As recent as March 2023, pure-electric models comprised a whopping nine of the top 10 in the depreciation derby. Moreover, June's revelation, backed by Cap HPI's data, disclosed that out of the 30 most devalued used cars this year, a staggering 29 were EVs. Their value plummeted by an average of 33.6 per cent, while their petrol counterparts barely budged with a meagre 0.5 per cent decline.

Meanwhile, Auto Trader's Retail Price Index, released on August 22, offered a glimmer of hope for EV enthusiasts. Used electric car prices merely dipped by 0.3 per cent in the month leading up to August 20. This marked the shallowest monthly contraction since July 2022. In contrast, the broader market wasn't as fortunate, witnessing a two per cent value drop for used cars in August. The lull in consumer demand and a more robust supply of pre-owned vehicles contributed to the downturn, making it the gloomiest August in 13 years.

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Though used EVs suffered a 1.7 per cent depreciation, the silver lining lay in the steeper declines of petrol (2.1 per cent) and diesel (2.1 per cent) vehicles. Derren Martin, the director of valuations at Cap HPI, provided insight into the market's nuances, revealing pockets of EV bargains and occasional overpricing due to surging supply. Martin's comprehensive discussion on the August used car market can be found in the video atop the corresponding article.

Intriguingly, August's roll of honor for the biggest used car deprecators reads like a cross-section of automotive prowess:

  1. SsangYong Tivoli (2015-2019) -14.5% (£1,354)

  2. Toyota GT 86 (2012-2021) -12.2% (£2,471)

  3. Renault Clio (2013-2020) diesel -9.2% (£771)

  4. Smart Fortwo (2016-2020) electric -8.8% (£808)

  5. Nissan Micra (2016-2020) diesel -6.9% (£718)

  6. Smart ForTwo Cabriolet (2015-2019) -6.9% (£763)

  7. Jaguar F-Pace (2020-) diesel -6.9% (£2,488)

  8. Jaguar F-Type Convertible (2013-2020) -6.8% (£2,906)

  9. Land Rover Discovery Sport (2019-) diesel -6.8% (£2,011)

  10. BMW 4 Series Convertible (2013-2020) diesel -6.8% (£1,531)

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In a heartening twist, a handful of cars bucked the trend, celebrating appreciation:

  1. BMW i8 (2014-2020) +5.0% (£2,300)

  2. Mercedes-Benz V-Class (2019-) diesel +4.9% (£2,705)

  3. Mazda 2 (2014-2020) +4.1% (£445)

  4. Volkswagen Caravelle (2010-2020) diesel +4.0 (+£1,475)

  5. Mercedes-Benz S-Class (2013-2021) petrol +3.0 (+£1,553)

  6. Mercedes-Benz S-Class (2013-2021) diesel +3.0 (+£1,283)

  7. Volkswagen ID.3 (2020-) +3.0 (+£4,554)

  8. Mitsubishi Shogun Sport (2017-2021) +2.1% (+£475)

  9. Lotus Evora (2009-2022) +2.1% (+£1,150)

  10. Mercedes-Benz V-Class Marco Polo (2017-2019) diesel +2.1 (+£987)

Thus, in a captivating deviation from recent trends, August brought a fresh narrative to the automotive theatre, proving that even in the world of cars, surprises are aplenty.

Original article can be read at cardealermagazine.co.uk



source http://autoengage.co.uk/home-page-9252-9795-4532/b/petrol-and-diesel-cars-lead-augusts-depreciation-charts

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