Motorway

• Motorway’s four-year old online marketplace connects consumers selling their car with professional car dealers acquiring stock
• 65,000 used cars have been sold on Motorway, with currently a new sale agreed every 10 minutes
• More than 3,000 dealers across the UK compete to offer the best price, and the car is collected in as little as 24 hours
• Sales in the last 12 months have tripled, with 300% growth expected in 2021
• Index Ventures leads Motorway’s Series B financing, joined by BMW i Ventures, Unbound and others

Motorway, the UK’s fastest-growing way to sell your car, has raised £48m in venture capital investment.

The Series B round is led by Index Ventures (backers of Deliveroo, Etsy and Dropbox) and also includes additional new investors BMW i Ventures and Unbound. Existing investors Latitude and Marchmont Ventures also participated in the funding round. Danny Rimer, partner at Index Ventures will now join Motorway’s board. 

Motorway’s growth to date

Motorway has completed over 65,000 car sales through its website since it started in 2017 and has seen sales rapidly increase over the last year to more than £50m in May 2021 alone. Currently a sale is agreed on Motorway every ten minutes. The company is completing over £2.5m of transactions a day and more than 4,000 completed car sales a month. With over 10,000 5-star reviews on TrustPilot, Motorway is projecting to hit over £650m in sales in 2021, more than triple its performance in 2020.

The new way to sell your car 

Motorway helps consumers to sell their car for up to £1,000 more from the comfort of home. It’s simple, fast and free – a car can be profiled and uploaded onto the Motorway website using only a smartphone. Over 3,000 professional car dealers can then bid for the vehicle in a daily online auction, with the highest offer winning the car. Their car is then collected for free by the winning dealer in as little as 24 hours. 

Cutting out the middlemen and moving the whole process online, Motorway removes the hassle and the haggle, helping car sellers and car dealers get a better deal fast, and all entirely remotely.

The used car market is accelerating online

Consumers and car dealers are embracing the internet to replace traditional offline and in-person car selling transactions. Motorway estimates that by the end of 2020, 5% of all vehicles were sold online – up from 1% at the start of the year. Motorway believes this will reach 20%+ as the car industry catches up with others that have already made the online transition.

While new car sales have seen a five year slump in the past year, the used car market has consistently been on the rise, with demand for used cars increasing month on month. On average, used car prices on Motorway have risen +8.2% in May versus six months ago in November. And with new car supply expected to be constrained ongoing, the buoyant used car market will continue to boom.

Investment into UK tech talent

This £48m investment will enable Motorway to significantly expand its product and engineering teams to introduce more products that improve the experience of online car sales, as well as investing in marketing to drive even greater awareness. The current 160-strong team will grow to over 200 by the end of the year, providing further jobs for the best UK talent in the months ahead.

Tom Leathes, CEO of Motorway, says:

“For half a century, inefficient offline processes have led to bad deals and a bad experience for both car sellers and car dealers. Motorway has fundamentally changed a broken experience where everyone ends up dissatisfied – and we’ve transformed it with a superior online experience where everybody wins. Cutting out the middlemen leaves both the consumer and car dealer with a better deal, all from home and without the stress. Our incredible growth so far is testament to our focus on delivering more value through technology – and this investment will provide us with the fuel to take Motorway to the next level.  

“We’re thrilled to be working with Index and the other investors in this round, and Danny Rimer’s huge technology experience and passion for our journey ahead makes him a great addition to the team.”

Danny Rimer, Partner at Index Ventures, says:

“We’re always looking to invest in companies that are truly disrupting an industry and meeting a real customer need. We have found that in Motorway. The team has built an incredibly powerful platform, underpinned by great technology and a deep understanding of the challenges both consumers and car dealers face. Motorway has quickly become the first port of call for tens of thousands of people selling their car.” 

Motorway has previously raised £14m in venture funding since it was founded by serial entrepreneurs Tom Leathes, Harry Jones and Alex Buttle in 2017. The team has since grown to 160 people across its offices in London, Brighton and remotely around the world. 

For more information, please contact press@motorway.co.uk.

Motorway reveals a lack of awareness ahead of new measures coming into force in Birmingham on 1st June

• 21% of UK motorists do not know what a Clean Air Zone (CAZ) is, while a further 21% are unsure
• Despite many new ones coming into force, only 16% know how to check if they will be charged when driving through a CAZ
• Just 12% know what the minimum standard for their vehicle is
• 44% agree with the principle that petrol and diesel vehicles should be charged for driving in densely populated areas
• Two thirds (66%) are not aware that a CAZ is being introduced in Birmingham on 1st June

Despite continuous media coverage over the last year about Clean Air Zones (CAZs), one fifth (21%) of UK motorists have no idea what a CAZ is, while one in three (31%) motorists in Birmingham are unaware that a CAZ is being introduced to their city on 1st June, according to research from Motorway, the online marketplace for used cars.

Clean Air Zones have been introduced in both London and Bath already and will launch in Birmingham, on 1st June 2021. They are one of several measures introduced to reduce pollution in the nation’s worst-affected areas. However, 21% of UK motorists are unsure of how they work, or how they may be affected by their introduction. And two thirds (66%) are unaware that a CAZ is being introduced in Birmingham next week.

Only 12% know what the minimum standard for their vehicle is and just 16% know how to check if they will be charged when driving through a Clean Air Zone. While this figure rises to 20% among Birmingham drivers, it still shows incredibly low awareness considering the Birmingham CAZ launches in less than a week.

Every CAZ is different – tailored to the area and the aims it wishes to achieve. But, in principle, they split opinion. While 44% agree that high-polluting petrol and diesel vehicles should be charged for driving in densely populated areas, 33% disagree and 23% sit on the fence.

Whatever the case, a prediction can be made that the zones will do their job – 36% said they would avoid travelling by car, van or motorbike if given an additional charge, while 21% would consider selling their petrol or diesel vehicle in favour of a greener, electric vehicle. In fact, almost a quarter (22%) of UK motorists said they were very likely to buy an electric vehicle while 30% said they were somewhat likely.

Alex Buttle, Director at Motorway, says:

“Clean Air Zones are popping up all over the country. First in London with ULEZ, then a CAZ in Bath, and now Birmingham. However you feel about them, if the car you’re driving means you’ll be charged when you enter the CAZ, then selling it may be an obvious choice to save money – especially while the used car market is so strong and prices of non-compliant cars are expected to fall this year for these types of cars.

“The used car market is booming right now, due to a real lack of new cars coming to market, so car owners may want to strike while the iron is hot. Whether you go all-in on an electric vehicle or opt for a CAZ-compliant lower-emission petrol or diesel car there’s an incredible choice available whatever your price range and style.”

Amanda Stretton, motoring expert said:

“The Birmingham CAZ has been the subject of much debate over the last year, both on a national and local level. So it’s pretty shocking that only 1 in 3 drivers in Birmingham have any idea that it’s coming into force on Tuesday! Add to that the 21% of UK motorists who don’t even know what a CAZ is! Clearly more needs to be done to educate people before they get a nasty surprise when they drive into a city operating a CAZ. It’s also important to remember that these changes to driving in big cities affect everyone – for both air quality and to inform people about any future choices they may make when it comes to buying a car.”

Drivers can use this online vehicle checker from The Department for Transport to see if they will be affected by the Bath or Birmingham CAZ, or this checker to see if they will be affected by the ULEZ in London.

Rapid growth leads to referral partnership with MoneySuperMarket 

• 4x YoY sales growth: Mar 20 – Mar 21
• Over £500m in sales transactions in the last year – £2.5m in car sales a day 
• Upwards of 4,000 car sales a month
• Record of £10m in weekly sales in Mar 21
• 2.5m consumers registered on the platform
• Doubled headcount in a year to 130

Motorway, the UK’s fastest-growing online marketplace for used cars, today reveals its revenues have more than tripled in size in a year as it plays a key role in the digital transformation of the auto trade industry.

The three year old startup connects consumers looking to sell their car with car dealers looking to acquire stock.  By removing the traditional middlemen and moving the process entirely online, Motorway’s service gets the best deal for both parties rapidly.

As millions of consumers go online to sell their car and dealers turn their back on physical auctions in favour of a digital alternative, Motorway has seen rapid YoY sales growth, generating £2.5m of car sales a day and completing over £500m in sales transactions in the last year. This translates to upwards of 200 sales a day and 4,000+ sales a month, with sales in the last week of March hitting a record £10m. 

While national lockdowns due to COVID-19 have accelerated its growth, Motorway’s continued efforts to improve the customer experience through its powerful technology platform have ensured sales have tripled in just 12 months.  There are now 2.5m registered UK consumers on the platform and the number of verified dealers in its nationwide network has doubled to over 3,000. 

Motorway’s strong financial performance has been matched with increasing its headcount to 130, double that of the previous year. 

On the back of this growth, Motorway has now agreed a referral partnership with MoneySuperMarket that will drive visitors to sell their car through Motorway. Visitors to MoneySuperMarket interested in selling their car can click straight through to Motorway to receive an instant valuation based on their latest data. Motorway will then find the best offer from over 3,000 verified dealers and will sell the car for free in as little as 24 hours.  

Tom Leathes, CEO of Motorway, says:

“The car industry is undergoing a massive transformation towards digital and the incredible growth we have delivered in the last year demonstrates that Motorway is at the absolute heart of this. Providing car sellers with a fast and convenient way to sell their car for the best price, without leaving home has resonated with millions of people across the UK. And now, through our new partnership with MoneySuperMarket, we will bring our service to an even greater audience, as we continue our mission to ensure selling a car becomes more efficient and enjoyable for everyone involved.

“With major investment in our technology, team and service, we’re now completing over 4,000 successful car sales a month for sellers and dealers, completely remotely.  So why would anyone ever go back?”

Kate Devine, Head of Car Insurance at MoneySuperMarket said:

“Our mission is to help households save money and our new partnership with Motorway gives us another way to do just that, expanding our offer.  Motorway are reinventing the way people sell their cars online, helping those selling their cars to find a great deal by comparing offers from thousands of dealers.  Motorway’s product simplifies the process of selling a car, taking away the hassle with their innovative approach, meaning many people can sell their car in as little as 24 hours, with free home collection and instant payment.”

Hugo Burge, Investor and Non-Executive Chairman of Motorway, says:

“The global pandemic has forced companies everywhere to be more agile, more relevant and more customer-focused. Internet brands are built on these pillars and Motorway is a powerful example of how to do it right. Rather than with a huge marketing spend to date, their accelerated growth has been driven by combining a great product with amazing reviews and incredible word of mouth. This impressive financial performance demonstrates that their commitment to making the market more transparent to find everyone a good deal is really paying off.”

Motorway Used Carometer reveals the top 20 most sold and most expensive cars sold across UK in the last year 

• The top selling used electric car was the Nissan Leaf
• A Lamborghini Huracan from Surrey was the most expensive used car sold during pandemic, for £172,250
• The Volkswagen Golf came out as the most popular car to sell in London, Leeds and Edinburgh
• The most expensive used electric car was the Tesla Model X
• An Abarth 695C was revealed as the rarest used car to be sold in the UK

It’s official – Volkswagen Golf was the UK’s most-sold used car during the pandemic, revealed by Motorway, the UK’s fastest-growing online marketplace for used cars.  

Motorway analysed all the cars sold on its platform during the pandemic, between March 2020 and February 2021, and found that more people have sold a Volkswagen Golf on the platform than any other model of car in the last year. It was closely followed by the Ford Fiesta and the MINI Cooper, proving UK drivers love selling things in small packages. The Volkswagen Golf also came top in London, Leeds and Edinburgh in the last year. 

Best electric dreams

With the steady rise in popularity of electric cars, UK drivers are spoiled for choice when choosing which EV to go for – from Tesla to Renault, there’s an EV for all tastes and budgets. But the Nissan Leaf took first place in Motorway’s Used Carometer with more of this model being sold online than any other electric car in the last 12 months. 

With EVs surging in popularity, Motorway also saw major growth in the selling of both petrol and diesel vehicles, with Land Rover featuring high on the most sold list, with popular models taking 9th and 11th place, implying the government’s changing legislation on fuel has got some people reconsidering their ownership of premium fossil fuel used cars. 

Most expensive motors

The UK’s most expensive used car in the Motorway Carometer was a Lamborghini Huracan, located North of the Surrey Hills, which sold for £172,250.  Three more Lamborghinis featured in the top five, hailing from Essex, Cardiff and Hull. While the rest of the top 20 most expensive cars featured brands most would expect like Porsche, Land Rover, Bentley and Mercedes, there was one Tesla Model X that went for over £80k, demonstrating a good resale value for this type of electric car. 

Tom Leathes, CEO of Motorway, said:

“While sales of new cars continue to fall and consumers have avoided public transport to stay safe, the used car market has seen incredible growth over the past year. Our data shows which cars have proved to be the most popular to sell this year.  

“Cars like the Volkswagen Golf, Ford Fiesta and Mini Cooper are consumer favourites and really hold their value in the used car market, with lots of people seeking them out. It’s also great to see just how many used electric cars are being bought and sold right now – the demand for EVs is growing fast and people are realising they can pick up some great models second hand without breaking the bank on a new one.”

The weird and wonderful 

Motorway’s data revealed it was an Italian yacht-themed Abarth 695C that was the rarest motor sold on the platform this year, alongside an Infiniti FX30d. And while black, white and grey are still the most in-demand colours, cream, pink and turquoise aren’t big sellers.  However, when it comes to selling cars, beauty really is in the eye of the beholder, with one yellow Porsche 718 in Hampshire going for over £80k and a yellow Ford Mustang in Manchester selling for almost £30k and an orange BMW M4 going for £40k in Newport. 

Motorway, the UK’s fastest-growing online marketplace for used cars has appointed Lloyd Page as its first CMO.

For the last two years, Page has been Marketing Director at MoneySuperMarket where he played an integral role in the brand relaunch and Get Money Calm brand positioning, including the introduction of the Money Calm Bull creative platform. Page will now be spear-heading the execution of Motorway’s brand vision and marketing strategy, turning Motorway into a household name.  

Lloyd Page began his career at Virgin Trains in 2000, before taking on a global role at Vodafone. He then transitioned into senior brand and digital marketing roles at John Lewis. He joined Virgin Media as Director of Brand and Brand Communications in 2016, until 2018 when he moved to MoneySuperMarket.

Page has joined Motorway, a fast-growing digital disruptor of the car market, at a time when the brand has seen unprecedented growth – completing thousands of car sales a month as more consumers than ever flock to the platform to sell their car “like a pro” to a verified dealer in a fast and contact-free manner.  The team has doubled to over 100 staff in the last year. 

Tom Leathes, CEO of Motorway, says:

“Lloyd is joining us at a time when the car industry is undergoing a massive transformation towards digital and Motorway is at the absolute heart of this. We’ve always been a 100% online business, helping customers sell their car quickly, conveniently and for the best price, without leaving home.

“We’ve had an incredible year of growth and development and now it’s time to take our brand to the next level. That’s where Lloyd comes in. His big brand experience from John Lewis and Virgin Media through to MoneySuperMarket is the perfect combination of what we need – a brand and customer-led marketing guru, combined with unparalleled digital expertise.”

Lloyd Page, CMO of Motorway, says:

“The global pandemic has been a challenging time for most brands – finding a way to solve a real customer need and execute on this has been the key to driving brand engagement and business growth.  And Motorway has nailed this – they’ve disrupted an industry that was in desperate need of modernising and they’ve simplified the confusing and time-consuming process of selling a car, as well as making it safer during national lockdowns. 

“Whilst we will continue to be restless in developing our offer, the customer proposition and outcome Motorway provides drives real customer value. So our next step will be to scale up and evolve our brand and marketing strategy, making Motorway the first port of call for anyone looking to sell a used car.”

We are excited to announce we’ve launched a brand new website to make it easier than ever to sell your car like a pro.

Find your best offer from 3,000+ verified dealers and you could get £1,000 more than part exchange or selling direct to a dealer yourself. Selling your car is always completely free with Motorway, with no service fees, free home collection and instant same-day payment.   

Since 2017, we’ve helped thousands of people sell their car and are very proud of our ‘Excellent’ rating on Trustpilot, with over 8,000 verified reviews.

Selling via Motorway’s nationwide network of verified dealers is subject to vehicle eligibility.  For those vehicles we can’t sell directly to dealers, we will offer an alternative selling route with a trusted partner.

Ready to sell your car like a pro? Get started here.

FAQ

I have a current offer for my vehicle from an online car buyer which I am considering, can I still access and accept the offer?

• The offer from the specific buyer will still be accessible and available for you to accept, subject to the details relating to timing etc.  However, you will not be able to access other options other than from The Car Buying Group on our website.

I have a current offer from The Car Buying Group or Car Take Back, can I still access and accept the offer?

• The offer from The Car Buying Group or Car Take Back will still be accessible and available for you to accept. 

We are extremely proud to announce that Motorway was awarded ‘Highly Commended’ for the ‘Used Car Product of the Year’ award at the Car Dealer Magazine Used Car Awards 2020.

The awards were presented online by Mike Brewer, star of Discovery Channel TV show Wheeler Dealers on Friday 5th February.

Well done to our fantastic team for all your hard work throughout a challenging year. Thanks too to our incredible dealers – we love working with you, and are always proud to serve you with exclusive privately-owned stock.

Finally, a big thank you to Mike Brewer for hosting the event, all the judges, Car Dealer Magazine, James Baggott and Michelle Searle for your support. What a year!

Motorway sales director James Bush said:

“We are delighted to have been awarded Highly Commended in the Used Car Product category in this year’s Used Car Awards.

“It’s testament to the hard work our team have put in to provide a truly market-leading product and service for the dealer community, especially during the pandemic.

“Our unique offering of high-spec, privately owned used vehicle stock – all online and without the middle men – has attracted more car dealers than ever this last year.

“This recognition from the judges is a great validation of our mission towards providing the best possible, most efficient online stock-acquisition platform for the long term.”

Dealers can sign up to buy exclusive, privately-owned used car stock at Motorway here.

The Motorway Used Carometer reveals the average price of used cars valued on its platform each month. It is based on market valuations of premium used cars on Motorway over £10k, less than five-years-old, with under 50,000 miles on the clock.  Now more than ever, consumers need a reliable source of truth to gauge how much money they’ll need to spend to get a quality used car. 

The UK government may be banning new sales of diesel and petrol cars from 2030, but the used market for diesel is definitely on the up.  After several years of plummeting diesel car prices, Motorway’s data also reveals that the average price of a used diesel car has been steadily rising month-on-month. The average price for diesel used cars were +3% higher in September than August and October prices were +1% higher than September.  

This rise, coupled with a +10% increase in the number of car valuations for Land Rover in October demonstrates increased demand for these premium SUVs in the used car market.  In fact, Jaguar Land Rover’s fightback continued with used Jaguar cars rising +4%, almost £1,000, on September prices and climbing +8%,  £1,862 higher than 12 months ago.  

Tom Leathes, CEO of Motorway comments: 

“With the ongoing pandemic, and restrictions set to continue through the winter, people are turning to the car market to avoid public transport and travel safely.  However, with the uncertain economic outlook, many consumers are reluctant to buy new. Instead, they are choosing to buy used cars and we have seen a significant increase in demand across more-expensive brands like Jaguar, Land Rover, Mercedes and BMW, which is keeping used car prices strong across the premium vehicle sector.  

“Our data also clearly shows consumers are not turning their back on fossil fuels just yet. While new car sales continue to drop, consumers are quickly realising they can get a great deal on a top of the range Land Rover that’s only a few years old, instead of dropping £60k on a new one, or on a new electric car.

“As a result, Jaguar Land Rover is now enjoying a renaissance in used vehicle demand that it may not have seen if not for the pandemic. We think the government’s changing legislation on fuel is unlikely to impact consumer appetite for premium used cars at a good price over the next twelve months.”  

High risers

Overall, the most popular cars on Motorway among dealers in October were the likes of Mercedes, BMW and Audi, with average prices holding at around £20K and all three brands performing well against October 2019 prices. 

The highest rising car brand was Mazda in October, with average prices up +7% on September, at £14,994 vs. £14,018 and +11% on the year before, rising by £1,447. This was followed by Jeep and then Honda which each had respective uplifts of +6% and +5%, compared to September. Porsche bounced back from last month’s drop and has now returned to its previous summer prices, jumping +4%, an increase of £1,444. 

EV price wars

It’s not just diesel that is on the rise. October was another strong month for used electric vehicles, proving there is appetite for both when it comes to used cars – average prices of EVs were £31,663, an uplift of 11% or £3,231. The most popular EV was unsurprisingly the Tesla Model 3, at £33,611, up almost +3% on September prices and +7% on the previous year.  

Jaguar Land Rover also performed well in the EV category, with the average price of a second-hand Jaguar I-PACE up +1% on the previous month to £54,280, while the Nissan Leaf held strong with a +0.5% uplift and an average price of £19,316.

Mid-level & value cars

Across mid-level and value brands, Ford and Peugeot saw a minor dip in average prices in October of around -1% while Vauxhall and Skoda second-hand prices both fell by 4%.  Although the average price of a used Mini dipped by £122 in October, overall this brand is still a consumer favourite, up +7% or £1,000 on the same time last year.

The Motorway Used Caromoter helps inform consumers what they can currently expect to get for their car or pay for a used one.  Instead of fairytale guide prices that are unlikely to come true, The Motorway Used Carometer uses real, aggregated data from multiple sources to provide a true picture of average prices in the last month, and year, to identify trends for the months ahead*. 

Car Brand	Average price: Oct 2020	September: Price increase/ decrease (%)	Difference (£)	October 2019: Price increase/ decrease (%)	Difference (£)
MAZDA	£14,994	6.97%	£976	10.70%	£1,447
JEEP	£16,217	6.63%	£1,009	7.10%	£1,069
HONDA	£16,186	4.59%	£710	6.47%	£983
JAGUAR	£24,066	4.05%	£937	8.39%	£1,862
PORSCHE	£39,548	3.79%	£1,444	1.21%	£473
BMW	£20,452	2.34%	£469	2.80%	£557
FERRARI	£106,397	1.89%	£1,972	-15.54%	-£19,577
LAND ROVER	£29,426	1.87%	£540	3.61%	£1,025
NISSAN	£14,563	1.20%	£173	-0.03%	-£4
VOLKSWAGEN	£16,324	1.01%	£163	-0.79%	-£130
MERCEDES-BENZ	£20,065	0.97%	£193	1.62%	£322
HYUNDAI	£15,011	0.83%	£124	-3.95%	-£617
CITROEN	£12,486	0.76%	£94	9.16%	£1,048
TOYOTA	£15,417	0.62%	£96	-6.38%	-£1,051
SEAT	£13,999	-0.06%	-£8	2.63%	£359
AUDI	£20,009	-0.35%	-£71	1.36%	£269
BENTLEY	£54,955	-0.74%	-£409	3.52%	£1,868
MINI	£14,123	-0.86%	-£122	7.65%	£1,004
FORD	£15,260	-0.91%	-£140	-2.79%	-£438
PEUGEOT	£15,660	-0.94%	-£148	-0.31%	-£48
VAUXHALL	£12,112	-3.56%	-£447	-3.10%	£391
VOLVO	£20,414	-1.32%	-£273	0.40%	£84
TESLA	£46,085	-1.89%	-£887	-7.21%	-£3,579
LEXUS	£20,459	-3.45%	-£731	-2.20%	-£460
SKODA	£16,087	-4.34%	-£731	6.28%	£950

When it comes to getting the right price for a used car, consumers shouldn’t be in a position where they have to accept low or cheeky offers. Motorway helps drivers secure the best deal for their car from a used car marketplace of 1,500+ trusted dealers nationwide. Car owners can sell fast, as well as safely, with minimum hassle, for the best price.  Rather than losing money through a middle-man, Motorway connects private sellers directly with dealers across the country – ensuring they get the best price and a trustworthy service, all in as little as 24 hours.

Updated 12/11/2020: We are open for business during the current lockdown. All transactions are completed contact-free.

This post outlines how our service is affected by the current COVID-19 situation and lockdown restrictions in England due to end on Wednesday 2nd December, and what you can expect if you sign up to compare prices on our website at this time.

Motorway works with thousands of dealerships and instant buyers around the UK to provide a range of offers for your car with a single search – helping you find your best deal as quickly as possible.

We will do all we can to secure you the best price possible at the present time, but some final offers may be lower than in normal conditions. Please note that you are under no obligation to accept any offer provided.

To keep you safe, buyers and dealers are purchasing vehicles following social distancing guidelines. All buyers on Motorway buy and collect cars in a contact-free manner.

Please continue to sign up on Motorway, or you can get in touch with questions at any time. You can email us at hello@motorway.co.uk or call our team on 0203 988 2266 (Mon-Fri, 9am to 5.30pm). We are always here to help.

Thank you for your patience. We will update this page as further info becomes available.

Brits are embracing electric cars more than ever before, with demand causing the average price of a used electric car to be +34% higher in September 2020 than in the same month last year, according to new data revealed by Motorway.  

Motorway today launches its monthly barometer revealing the average price of used cars valued on its platform each month, as well as the same time last year. Now more than ever, consumers need a reliable source of truth to gauge how much money they can get for their car from professional buyers. 

Instead of fairytale guide prices that are unlikely to come true, The Motorway Used Carometer uses real, aggregated data from multiple sources to provide a true picture of average prices in the last month, and year, to identify trends for the months ahead. It is based on market valuations of premium used cars on Motorway over £10k, less than five-years-old, with under 50,000 miles on the clock.   

Tesla has had the biggest price increase compared to September 2019, up +11%, equating to an average of £4,746 more per vehicle. In fact, the average price of a used Tesla increased by +3% in September from the previous month, underlining a clear trend in  increased demand for cleaner EVs, perhaps for good.

This marries with new car registrations too, with the SMMT reporting a 184% increase in pure-electric registrations in September compared to the previous year. With Tesla resale prices surging, the brand could well be one to invest in for the future. 

High risers 

Other brands that tipped the scale in September included Peugeot, Skoda, Mercedes and Volvo – with average prices rising between +3 to 5% on August prices. Peugeot made the top of the list, with the highest rising prices at +6% compared to August, while it is also +7% up on the same month last year. 

Tom Leathes, CEO of Motorway comments: 

“Since coming out of lockdown, the used car market has seen incredible month-on-month growth. With an uncertain economic outlook, many people are moving away from buying a new car and choosing used to find more value. And commuters are looking for alternatives to public transport to stay safe – and they’re turning to the second hand market too.

“This combined impact means resilient prices for car sellers with quality used vehicles – and this is borne out in our data.  Not only are the majority of brands in our barometer achieving prices higher than the previous month, they are up on the same time last year,  before the pandemic hit.

“Dealers, hungry for quality stock they can sell at affordable prices, are also pushing prices up. From Tesla and MINI, to Peugeot and even showstoppers like Ferrari and Lamborghini, sale prices show no signs of slowing down as we near the end of the year. 

“Consumers that usually go for new cars have woken up to the benefits of the used car market, and we expect strong market growth to continue long into the future. In highly uncertain times, that is real cause for celebration.” 

Fuel wars

Dieselgate and the pollution levies over the last three year resulted in diesel car prices plummeting. But that fall has now come to an end: September bucked the trend with diesel actually rising +3% on August car prices, and +2% compared to September 2019.  Petrol cars didn’t fare as well, dropping an average of 9% on last year’s car prices, while hybrid cars also fell, by 5%. This may indicate a natural levelling out following a period of turbulent fuel-based valuations.

Super cars, super prices

With interest rates staying low, there is strong demand from high earners for expensive prestige used vehicles. It was a great month for brands like Ferrari, Lamborghini, Bentley and Aston Martin which saw between +6 to 16% increase. However, it wasn’t all rosy for super cars. Perhaps because many buyers are avoiding flashiness and looking for more practicality during lockdown, Porsche saw a 10% drop from August and 4% from last year.

Back to black

Some things rarely change. Black is still the most popular car to sell, followed by grey, then white. But turquoise came out the highest rising colour of the month, +46% up on August and almost +30% up on last year. At the other end of the scale, purple, a colour most notably associated with royalty, is very much out of favour, averaging 20% less than August and 50% less than last year.  

The Motorway Used Caromoter helps inform consumers what they can currently expect to get for their car. When it comes to getting the right price for a used car, consumers shouldn’t be in a position where they have to accept low or cheeky offers.

Motorway helps drivers secure the best deal for their car from a used car marketplace of 1,500+ trusted dealers nationwide. Car owners can sell fast, as well as safely, with minimum hassle, for the best price.  Rather than losing money through a middle-man, Motorway connects private sellers directly with dealers across the country – ensuring they get the best price and the most trustworthy response, all in as little as 24 hours.