A NUMBER of used cars have dramatically fallen in price in 2024 – with a very well-known Vauxhall model currently top of the drops.
In data collected by Autotrader and reported by Car Dealer Magazine, cars from brands such as Tesla, Nissan and Audi can now be picked up at much lower prices than before.
But the biggest loss in value has affected the Vauxhall Corsa-e, which has dropped by 25% so far this year with an average asking price now at £15,377.
The price of a brand new Corsa-e starts at around £33,000 according to Car Dealer Magazine, although Autotrader states its RRP ranges from £26,895 to £38,585.
Below the Corsa-e in second place with a price drop of 24.2% is the Audi e-tron GT, which now costs an average of £61,555 second hand.
The stylish EV costs between £88,005 and £151,220 from new, and rivals the Porsche Taycan in the luxury electric motor catergory.
In third is the ever-popular Tesla Model Y, which has dropped 24% and now costs an average £37,832.
From new, the Model Y is currently one of Europe’s best-selling cars – selling a whopping 254,822 last year in Europe.
Source: Auto Trader, prices to date 2024
Richard Walker, Auto Trader’s data and insights director, said: “As we enter the second half of the year, our data shows that the fundamentals of the used car market remain solid – consumer demand is robust, and cars are selling at pace, which combined with the softening in supply, means retail prices continue to stabilise.
“Although this balance of market dynamics is working to return retail prices to seasonal norms, it’s also affecting retailers’ traditional stock profiles and making the job of finding profitable cars all the more challenging.”
Used car experts at CarGurus recently shared with Sun Motors five of the best used car picks priced at under £11,000 after major price drops.
This includes the Volvo V40, with a model from around 2016 now boasting an average price of £10,302.
Staying with Volvo, the brand recently announced a dramatic U-turn by reviving two beloved estate motors – nearly a year after they were discontinued.
