Used Sports Cars Hold Firm in May, While Some EVs See Price Cuts of Over 20%

Are you in the market for a high-end used sports car or an electric vehicle? Well, the latest data from Auto Trader reveals some interesting trends in the second-hand car market for May. While some luxury performance cars saw modest price changes, there were significant drops in the prices of certain used EVs.

Let’s start with the good news for sports car enthusiasts. Premium performance models like the Porsche Cayman and BMW M5 saw slight increases in price, showing that the demand for these high-end vehicles remains strong. On the other hand, the Bentley Continental GT experienced a small drop in price, but nothing too drastic.

Now, onto the not-so-great news for electric car buyers. The Volkswagen e-Golf topped the list of cars that saw the biggest price drop in May, with a nearly 24% decrease compared to the previous year. This trend was consistent among other electric models like the Nissan Leaf and Vauxhall Corsa-e, which also experienced significant price cuts.

Despite these fluctuations in prices, Auto Trader noted that the overall used car market showed signs of returning to ‘seasonal norms’ in May, with prices softening by 0.7%. However, the company also warned that dealers are still underpricing the most in-demand used cars, with around 70,000 cars currently advertised below market average.

In conclusion, the data from Auto Trader paints a mixed picture for the second-hand car market in May. While high-end sports cars held firm in terms of pricing, some used EVs suffered significant price cuts. Whether you’re in the market for a luxury performance car or an electric vehicle, it’s essential to stay informed about the latest trends to make the best purchasing decision.