Used car prices 2023: top 10 models rising in value and the 10 …

Used car ^[1] prices in the UK have calmed down but continue to rise, according to the latest figures from marketplace Auto Trader.

The latest data ^[2] 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 ^[3]. 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 ^[4] have fallen in value by a similar amount.

Here, according to Auto Trader’s latest figures are the biggest winners and losers.

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. 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.

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. 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.

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. 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.

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. 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.

The i10 isn’t as characterful as the Fiat Panda but as a dependable and affordable alternative, there’s a lot to like. Every generation of this Korean city car has proved to be spacious, frugal and decent to drive, and with the exception of base-spec models are well equipped too.

A bit like the Partner Teepee, the Scenic is people carrier aimed at families who put practicality and function at the top of their shopping list. It’s smaller than the models like the Seat Alhambra of Ford Galaxy but still packs plenty of smart features to make family life easier. Like most MPVs, the Scenic is no longer on sale, perhaps explaining its rising second-hand value. A bit like the Partner Teepee, the Scenic is people carrier aimed at families who put practicality and function at the top of their shopping list. It’s smaller than the models like the Seat Alhambra of Ford Galaxy but still packs plenty of smart features to make family life easier. Like most MPVs, the Scenic is no longer on sale, perhaps explaining its rising second-hand value.

The 208’s predecessor, the 207, has previously featured among Auto Trader’s fastest rising used models but it seems demand has shifted towards the later version. A rival to the hugely popular Ford Fiesta and Vauxhall Corsa, the 208 started off as a fairly dull small hatchback but the second generation, launched in 2019, helped kickstart Peugeot’s renaissance as a maker of stylish and desirable cars.

Retro is clearly back in fashion as VW’s 60s-inspired hatchback has seen a strong rise in value over the last year. Under the skin, it’s a Golf but the Beetle’s unique interior and exterior styling have a playful charm that appeals to a different audience. An audience clearly willing to splash out on something a little different. Retro is clearly back in fashion as VW’s 60s-inspired hatchback has seen a strong rise in value over the last year. Under the skin, it’s a Golf but the Beetle’s unique interior and exterior styling have a playful charm that appeals to a different audience. An audience clearly willing to splash out on something a little different.

The Picanto city car is closely related to the Hyundai i10 and, as such, it has the same neat packaging, high specification levels and wallet-friendly running costs. And with Kia’s seven-year warranty, there are plenty that still have manufacturer cover, even second hand.

A leftfield addition to the list is VW’s relatively rare four-door saloon-cum-coupe. Based on the capable but dull Passat, the CC is the predecessor to the current Arteon, offering VW’s most premium passenger experience in a sleek, low-roofed model still capable of carrying four adults in comfort. A leftfield addition to the list is VW’s relatively rare four-door saloon-cum-coupe. Based on the capable but dull Passat, the CC is the predecessor to the current Arteon, offering VW’s most premium passenger experience in a sleek, low-roofed model still capable of carrying four adults in comfort.

Smart made its name with the fortwo - an innovative and tiny two-seat city car unlike anything else on sale. The forfour, in contrast, was a pretty average four-door four-seat compact hatchback based on a thoroughly uninspiring Mitsubishi. It’s perhaps not a surprise then that values for this oddity have been falling. Smart made its name with the fortwo - an innovative and tiny two-seat city car unlike anything else on sale. The forfour, in contrast, was a pretty average four-door four-seat compact hatchback based on a thoroughly uninspiring Mitsubishi. It’s perhaps not a surprise then that values for this oddity have been falling.

Smart made its name with the fortwo – an innovative and tiny two-seat city car unlike anything else on sale. The forfour, in contrast, was a pretty average four-door four-seat compact hatchback based on a thoroughly uninspiring Mitsubishi. It’s perhaps not a surprise then that values for this oddity have been falling.

Audi’s Q8 is an impressive beast. A massive, high-spec SUV with coupe styling, all the latest gadgets and Audi’s usual rock solid quality, it’s a fitting flagship model and essentially an SUV alternative to the A8 saloon. However, it’s not cheap and it’s not as practical as the slightly less exciting looking Q7, perhaps explaining why interest and prices are slipping. Audi’s Q8 is an impressive beast. A massive, high-spec SUV with coupe styling, all the latest gadgets and Audi’s usual rock solid quality, it’s a fitting flagship model and essentially an SUV alternative to the A8 saloon. However, it’s not cheap and it’s not as practical as the slightly less exciting looking Q7, perhaps explaining why interest and prices are slipping.

Just two short years ago people were paying over the brand new list price for second-hand Defenders. A drought of new cars reaching dealers meant buyers desperate for the reimagined 4×4 were throwing money at anyone who had a lightly used example for sale. Now that things have settled down, the inevitable has happened and prices have begun to fall back to more realistic levels for this chunky, capable and comfortable off-roader.

Compact SUVs are big business but not every model can be a runaway success and the DS 3 Crossback is clearly one example struggling on the second-hand market. DS is the Stellantis group’s premium wing and the DS3 features plenty of quirky and high-quality touches but in a market dominated by the big German brands, it’s obviously struggling to get attention. Compact SUVs are big business but not every model can be a runaway success and the DS 3 Crossback is clearly one example struggling on the second-hand market. DS is the Stellantis group’s premium wing and the DS3 features plenty of quirky and high-quality touches but in a market dominated by the big German brands, it’s obviously struggling to get attention.

The XC40 is another premium-tinged model that has suffered falling values in the last year. It boasts sharp looks, a beautiful interior and some of the most advanced safety kit in its class but, like the DS, faced with the endless desire for its BMW, Audi and Mercedes rivals it has struggled to maintain its value. The XC40 is another premium-tinged model that has suffered falling values in the last year. It boasts sharp looks, a beautiful interior and some of the most advanced safety kit in its class but, like the DS, faced with the endless desire for its BMW, Audi and Mercedes rivals it has struggled to maintain its value.

For a while, Auto Trader’s list of used movers and shakers didn’t feature a single car that actually lost value but improving supply of second-hand models has clearly changed that. The Kona is an impressive all-round performer in the compact SUV segment, with good looks, decent equipment and Hyundai’s strong reliability record, but it’s clearly not attracting buyers in the same way as rivals. For a while, Auto Trader’s list of used movers and shakers didn’t feature a single car that actually lost value but improving supply of second-hand models has clearly changed that. The Kona is an impressive all-round performer in the compact SUV segment, with good looks, decent equipment and Hyundai’s strong reliability record, but it’s clearly not attracting buyers in the same way as rivals.

AutoTrader’s figure here covers both the 1990s version of the 8 Series and the current generation. Both are big, powerful grand touring coupes with lots of presence, spec and power. Modern versions also come with a bit of an image problem which might explain its relatively poor used performance or perhaps footballers are reigning in their spending like the rest of us. AutoTrader’s figure here covers both the 1990s version of the 8 Series and the current generation. Both are big, powerful grand touring coupes with lots of presence, spec and power. Modern versions also come with a bit of an image problem which might explain its relatively poor used performance or perhaps footballers are reigning in their spending like the rest of us.

The Ioniq was a really interesting prospect when it launched and remains so even now. Unlike most models, it was offered with regular hybrid, plug-in hybrid or all-electric drivetrains, meaning there was a version of this family hatchback to suit everyone. However, especially in EV terms, it has been left behind in recent years, perhaps explaining its declining value. The Ioniq was a really interesting prospect when it launched and remains so even now. Unlike most models, it was offered with regular hybrid, plug-in hybrid or all-electric drivetrains, meaning there was a version of this family hatchback to suit everyone. However, especially in EV terms, it has been left behind in recent years, perhaps explaining its declining value.

The Porsche Taycan is a remarkable car. With pulse-quickening performance, space for four and an impressive range, it’s a true all-round performance car. However, it’s also massively expensive and recent months have seen a sharp repositioning of the EV market. While demand, and therefore prices, for mainstream models has remained high, the premium end of the segment has taken a hit. The Porsche Taycan is a remarkable car. With pulse-quickening performance, space for four and an impressive range, it’s a true all-round performance car. However, it’s also massively expensive and recent months have seen a sharp repositioning of the EV market. While demand, and therefore prices, for mainstream models has remained high, the premium end of the segment has taken a hit.

The Model S was Tesla's first big seller and helped establish the brand as a major player in the modern automotive world. It still offers impressive range and access to the Supercharger network but this large saloon is getting on in age and has been superseded by other models from rival firms and Tesla itself. Like the Taycan, it has also been a victim of shifts in the high-end EV market. The Model S was Tesla's first big seller and helped establish the brand as a major player in the modern automotive world. It still offers impressive range and access to the Supercharger network but this large saloon is getting on in age and has been superseded by other models from rival firms and Tesla itself. Like the Taycan, it has also been a victim of shifts in the high-end EV market.

The Model S was Tesla’s first big seller and helped establish the brand as a major player in the modern automotive world. It still offers impressive range and access to the Supercharger network but this large saloon is getting on in age and has been superseded by other models from rival firms and Tesla itself. Like the Taycan, it has also been a victim of shifts in the high-end EV market.

References

^{^} Used car (www.nationalworld.com)
^{^} The latest data (www.nationalworld.com)
^{^} secondhand market (www.nationalworld.com)
^{^} high-end electric cars (www.nationalworld.com)