The positive trends come at a time when consumers battle the rising cost of living and a mortgage crunch. Adrian Favill, director of iTrackLEADS, said: “The volume of enquiries is holding up despite the headwinds the economy is facing. Meanwhile, petrol vehicle increased by 7%, accounting for 52% of all used cars being sold on the platform, and diesel increased its share by 3%, taking a 38% stake. The average price of a used car in June dipped by 1% (£150) to £18,283 but was 10% (£1,671) up year-on-year. “In light of the ongoing economic pressures and June’s interest rate rise, used car buyers are more focused than ever on their monthly budgets.

Source: Wall Street Journal July 03, 2023 13:55 UTC