Prices of used diesels, petrols, hybrid and electric cars all fell during the second quarter of 2019, according to Autorola.
The online remarketing firm attributed the fall to an increase in part exchanges from the new 19-plate in March and the general apathy caused by Brexit.
The average price of used diesel vehicles dropped £1,317 to £12,068 in the quarter – following a similar price pattern seen a year earlier. The price of used petrol vehicles dropped £555 to £9,880.
The average age and mileage of used diesel and petrol vehicles remained static at 34 months and 28,637 miles, and 32 months and 18,187 miles respectively.
Used electric and hybrid vehicle prices fell £780 to £16,675 in the quarter, with the average age increasing from 16 to 18 months. Mileage remained static at 7,813 miles.
Following a record number of used electric and hybrid cars sold online in the first quarter of 2019, Autorola said stock availability and choice was very limited in Q2 which helped to contribute to the fall in prices.
The figures from the Society for Motor Manufacturers and Traders (SMMT) for the used car market revealed 30.7% growth in demand for hybrid and pure electric cars in Q1 – with 32,272 models changing hands.
“It has been an unusual quarter with some large dealer group and car supermarket buyers putting a stop on purchasing used stock in April based on the uncertainty caused by Brexit,” said Jon Mitchell, group sales director at Autorola UK.
“May and June were much more consistent with buyers investing in used stock again, while dealer vendors made decisions on which part exchanges to keep and which ones to sell which injected life into the market.
“We hope to see the used car market return to business as usual in Q3,” he added.