The UK’s most popular used cars have ‘skyrocketed in value’

The UK’s used car market has seen a significant boom over the past 12 months, as new car supply issues have driven consumers to second-hand cars.

The extent of the boom has been revealed by data from online marketplace CarGurus, which shows that the UK’s 20 most in-demand used cars ‘have appreciated at historic levels in the last 12 months’.

In fact, prices for these models have gone up an average of 26 per cent.

CarGurus has examined price data for the 20 most searched-for cars on its site between January 24 2021 and January 24 2022, with refinements made to account for outside factors such as new model launches.

The Ford Focus saw the biggest jump, with prices increasing 50 per cent to £16,250. This was followed by the Fiesta (36.7 per cent) and the Mini Cooper (34.9 per cent). The Volkswagen Polo (33.6 per cent) and the Mercedes-Benz C-Class (32.5 per cent) completed the top five.

The Nissan Qashqai was the most searched-for car, and that saw prices go up 29.6 per cent to £16,660. It was followed by the Range Rover Sport, which saw prices go up 13.2 per cent to £43,447, while the C-Class was third for searches.

Kevin Roberts, director of industry insights and analytics at CarGurus, said: “Buyers should be aware of a number of factors contributing to recent appreciation levels of Britain’s most popular cars.

“The semiconductor shortage has contributed to the worst year for UK new car production since 1956 which, in turn, has led to an increase in demand for used vehicles. The resulting decline in available stock has therefore naturally driven up prices.

“The outlook for 2022 will remain dependent on vehicle production; if it can come back to a pre-Covid level we’ll likely see a stronger recovery in sales and a potential reduction in pricing, otherwise we’re looking at a further continuation of 2021 trends.”