National car dealer Pendragon has reported that used car prices have risen almost a third in the last year.
Average second hand car prices within the group were almost £19,000 during the first half of 2022, compared the £14,400 a year earlier. Its average new car sales price was up 13 per cent at more than £29,000 – compared to less than £26,000 a year before. Rising prices reflected a lack of supply and a drop in the number of cars the Nottingham-based business sold.
Pendragon said it sold just over 46,000 used cars in the UK in the first six months of this year, and almost 24,700 new cars. That compared to 53,900 and 30,000 (respectively) a year before.
