News Published on : 14-Feb-2022 14:34:44

CarGurus data has revealed the UK s 20 most in demand used cars have appreciated at historic levels in the last 12 months - experiencing an average price increase of 26.3%. Using average listing price data CarGurus examined prices of the Top 20 most searched cars on CarGurus website from 24th January 2021 to 24th January 2022. The data was refined to mitigate against artificial price inflation caused by new model launches over the past year. According to the online marketplace s proprietary data the Ford Focus (50%) Ford Fiesta (36.7%) and MINI Cooper (34.9%) experienced the greatest jump in price over the last year followed closely by the Volkswagen Polo (33.6%) and Mercedes-Benz C-Class (32.5%). The car sparking the most searches on CarGurus among UK buyers - the Nissan Qashqai - increased in price by 30%. Following closely behind the Nissan Qashqai as the cars prompting the most demand were the Land Rover Range Rover Sport Mercedes-Benz C-Class Mercedes-Benz E-Class and Volkswagen Golf. With used vehicle prices at historic levels consumers can turn to features such as CarGurus Instant Market Value (IMV) to help determine if a vehicle is considered a great good fair high or overpriced deal. IMV calculations are updated daily using a complex algorithm that takes into account millions of data points including make model trim year mileage options and vehicle history. Kevin Roberts Director of Industry Insights & 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 semi-conductor 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.