Monthly Market Update: Used car residual values stable in April
01 May 2026
Residual values (RVs) remained broadly stable across European used-car markets in April. But what did other metrics reveal in Austria, France, Germany, Italy, Spain, Switzerland, and the UK? Autovista24 editor Tom Geggus examines the market data.
Passenger car values in key European markets remained relatively stable in April. While there was an overall trend of decline compared with March, value drops were mostly marginal.
The UK saw the largest decline in absolute RVs, down 2.3% month on month to £15,460 (€17,924). With the exception of Austria’s 1.8% fall to €22,623, nearly all other observed markets recorded drops under 1%. Spain was even able to record a 0.9% increase in absolute RVs compared with March.
RVs presented as a percentage of retained list price (%RV) after 36 months and 60,000km also remained stable in April. Compared with March, the UK once again saw the largest drop, from 48.4% to 47.4%.
Declines in %RVs were more substantial compared with April 2025. Italy recorded the largest decline, down 3.8 percentage points (pp) to 44.6%. Meanwhile, all markets saw list prices and active-market volume indices (AMVI) climb year on year, putting pressure on %RVs.
Austria sees more momentum
Austria’s sales‑volume index (SVI) for two‑to‑four‑year‑old passenger cars continued its upward trend in April. The metric increased by 11.7% compared with March, while demand was 12.2% higher year on year.
‘This underlined a clear improvement compared to early 2025 and confirms that market momentum has only strengthened,’ said Robert Madas, regional head of valuations.
Supply conditions eased slightly. The AMVI fell by 1% month on month. Nevertheless, stock levels remained 1.2% higher than a year earlier. This indicates that supply remains broadly balanced and above last year’s level despite the marginal monthly contraction.
Turnover speed improved again in April. The average time needed to sell a used car declined to 66.5 days, a month-on-month improvement of two days. Compared with April 2025, however, turnaround times were 1.7 days longer.
Full hybrids (HEVs) took the lead in turnover speed at 53.1 days, marking a significant improvement compared to March. The Toyota Yaris was a major motivating factor behind this trend. Then came diesel models, needing 63 days to sell on average.
This was followed by battery-electric vehicles (BEVs) at 67.7 days, after a significant improvement compared with March. Next were petrol cars, taking an average of 68.5 days to sell, and plug-in hybrids (PHEVs) at 73.1 days.
Softer pricing dynamics
Pricing dynamics softened in April. The average absolute trade RV of 36‑month‑old cars at 60,000km declined to €22,623. This was down 1.8% month on month but was still 5.4% higher than in April 2025.
Meanwhile, %RVs fell to 46.9% in Austria. This was down 0.4pp on March and 0.7pp on April last year, highlighting renewed pressure on value retention. List prices also edged lower, averaging €48,278 in April. This represented a 0.9% month‑on‑month decline, though prices remained 7.1% higher than a year earlier.
HEVs retained the highest %RV at 51.1%, followed by petrol cars at 49.6%. Then came diesel models with 46.9% and PHEVs with 44.2%. BEVs held the lowest %RV once again, at 38.5%.
Austria’s RV outlook remains broadly unchanged. %RVs are forecast to decline gradually over the coming years as supply normalises further. In December 2026, a 0.5% year-on-year decline is forecast. A 0.7% decrease in 2027 is expected to follow.
Value stability in France
RVs were stable in France during April, maintaining the levels recorded at the end of 2025. A slightly more expensive basket contributed to lower trade %RVs. The average number of days needed to sell a 24-to-48-month-old car was stable overall as well.
Values of petrol-powered models followed the general market trend. The fuel type has seen mostly stable RVs, even as other powertrains experienced larger decreases. Additionally, petrol cars are still widely offered by many manufacturers while diesel cars are becoming rarer.
‘After seeing values fall marginally in previous months, diesel-powered cars saw RVs pick up slightly in April. The fuel type is still in demand on the French used-car market, even as new sales fall,’ commented Ludovic Percier, senior RV analyst for France.
HEVs saw absolute trade RVs remain stable in April. More manufacturers are now featuring the technology in their model lineups. There are increased numbers of these powertrains in the used-car market, with most new entrants coming from mainstream brands.
Toyota has consistently led the French used HEV market, with model reliability boosting RVs. Overall, used HEVs are still in demand in France, but carmakers cannot risk increasing their price premiums. This would jeopardise the value retention of these models.
Supply and demand imbalance
PHEV values kept falling in April as supply and demand on the used-car market remained imbalanced. Previously, new PHEVs with high list prices were sold to fleets on the back of fiscal advantages. This continues to negatively impact the value retention of these used models as they come back to market. Vehicles offering an electric-only range of below 60km have been most affected.
PHEVs were the second slowest-selling powertrain in April, taking 69.1 days on average. This increased compared to March, as more models came back from leasing with smaller electric ranges than newer models.
BEV values were stable. The technology is evolving quickly, with driving ranges extending compared to models from three years ago.
On average, BEVs spent 80.3 days in stock during April, compared with the market average of 66.6. The powertrain retained 35.6% of its new car list price after 36 months and 60,000km. This was compared to the overall market’s 50.2%.
France’s social leasing programme is not helping used-car sales, as buyers opt for new models instead of pre-owned ones. The upper segment will be more impacted in the future as company and fleet vehicle users benefit from fiscal advantages. These vehicles will come to the used-car market in early 2028.
Market liquidity improves in Germany
Used‑car demand in Germany continued to improve in April, building on the recovery seen in the first quarter.
The SVI increased by 9.7% compared with March. However, the demand metric remained below last year’s level, with the index 5.5% lower year on year. This indicates that underlying market activity has not yet fully returned to 2025 levels.
‘Supply conditions strengthened further,’ explained Madas. ‘The AMVI was up by 2.9% month on month. Compared to April last year, stock availability was 28.6% higher, confirming a pronounced rebuild in supply and continued market normalisation.’
Market liquidity improved again in April. The average number of days needed to sell a used car fell to 62.7 days. This was an improvement of 1.2 days month on month and 0.9 days year on year. This suggests that turnover conditions are gradually strengthening despite softer year‑on‑year demand.
Looking at powertrain performance, BEVs were again the fastest-selling technology, taking 58.4 days to leave forecourts. Then came PHEVs at 58.9 days. Diesel cars followed at 61 days, while petrol-powered cars took 66.1 days to sell. HEVs sold the slowest, at 67.3 days.
Supply expected to normalise
RVs remained under pressure. After 36 months and 60,000km, %RVs fell to 46.3%. This was down 0.2pp month on month and 1.3pp year on year. Absolute trade RVs also decreased to €21,319, down 0.9% month on month, but still 0.4% higher year on year.
Meanwhile, list prices softened slightly, averaging €46,093 in April. This represented a 0.5% month‑on‑month decline. However, prices remained 3.3% higher than a year earlier, continuing to support absolute used‑car values despite falling retention rates.
Looking ahead, gradual downward pressure on %RVs is still expected as supply normalises further. By the end of 2026, %RVs are projected to decline by 1.6% compared with December 2025.
Pressure is predicted to ease somewhat in 2027, with a smaller decline of 0.9% expected. This indicates ongoing RV strain, driven by recovering supply, normalising demand, and elevated list prices.
Italy sees seasonal pattern
‘Used car RVs fell in Italy during April. %RVs reached 44.6%, down 0.4pp compared with March. This reflected a seasonal pattern that was broadly in line with expectations,’ highlighted Marco Pasquetti, cluster head of forecasting for Spain and Italy.
Compared with April 2025, %RVs were down by 3.8pp. This was stable on March’s Monthly Market Update, where values also dropped by 3.8pp year on year to 45%.
Average days‑to‑sell for used cars reached 55.4 days, improving by 3.4 days compared with March. However, turnover remained marginally slower than a year ago, with an increase of 1.1 days. Apart from the Dacia Sandero, four of the five fastest‑selling models came from Toyota. Each averaged around 30 days on market.
An analysis of listings across online marketplaces points to a phase of relative stabilisation. The SVI did continue to edge lower. However, the 1.5% month-on-month contraction remains limited and does not indicate a material deterioration in underlying demand.
Encouraging signals emerged from electric powertrains. For the first time since values began declining in 2024, the pace of depreciation slowed for PHEVs and BEVs.
%RVs of all-electric cars slid by 0.1pp compared with March, while PHEVs fell by just 0.2pp. This compares with a market average drop of 0.4pp. In contrast, LPG was the weakest performer, recording the sharpest decline at 0.6pp.
Spain sees EV interest
Spain’s new-car market continues to grow at a steady pace despite the ongoing global situation. Specifically, sales in March rose by 11.7% compared with March 2025, and year-to-date growth stands at 7.6%.
Electric vehicles (EVs), covering BEVs and PHEVs, powered this growth. The powertrain grouping saw registrations increase 62.2% year on year. This meant EVs accounted for roughly a fifth of the new-car market in the first quarter.
More competitive pricing and the incentives offered by the country’s Auto+ Scheme have helped spur this increasing interest in EVs. Rising fuel prices and improvements to infrastructure have also helped to shrink the barriers to demand.
This growing interest in electrification is also evident in the used-car market. Transactions of used PHEVs grew by 51.3% while BEVs saw an increase of 48.8% in the first quarter. However, EVs still only accounted for 4.2% of Spain’s used-car market in the period.
More affordable models
‘This demand is not clearly reflected in the average EV transaction price,’ explained Ana Azofra, regional head of valuations and insights. ‘The mix of used cars on offer now features a greater proportion of entry-level models. There are also more models from Chinese brands with highly competitive pricing strategies.’
PHEVs remained virtually unchanged at €28,329 for a three-year-old car at 60,000km. Meanwhile, BEVs experienced a slight drop compared with March, down to €24,379.
Petrol cars saw their RVs rise by 0.8% compared with the previous month, while diesel car values fell by 0.2%. In contrast, HEVs showed no signs of slowing down and led the way once again with a 1.2% increase in their average transaction value. Unsurprisingly, the powertrain also occupied several places in the fastest-selling models ranking.
The Dacia Sandero took first with an average turnover of 42.4 days, compared with the market average of 74.3. The Sandero was followed by the Toyota Yaris Cross and the Cupra Formentor.
Positive market trend in Switzerland
Following a recovery in February and March, used‑car demand in Switzerland continued to improve in April. The SVI rose by 3.3% month on month. Demand was 2.1% higher compared to April 2025, confirming a gradual but sustained recovery following weakness in January.
Supply conditions eased slightly. The AMVI declined by 1% compared with March. However, the index was up 4% year on year. This indicates that stock availability exceeded last year’s level despite the recent monthly dip.
%RVs continued to decline in April. The average %RV for a 36-month-old car at 60,000km dropped to 41.3%. This marked a month-on-month decline of 0.2pp and a sharper year-on-year drop of 2.4pp. This highlights persistent depreciation pressure in the Swiss used‑car market amid elevated supply and rising prices.
HEVs retained the most value of any powertrain in April at 46.2%. Then came petrol-powered cars at 42.6%, diesel-powered models at 40.9% and PHEVs at 39.2%. BEVs continued to be the worst-performing powertrain, holding only 35.6% of their original list price.
Absolute trade RVs decreased slightly to CHF 26,543 (€28,940), down 0.6% month on month, but remained 2% higher year on year. List prices edged lower, averaging CHF 64,192, a 0.2% month‑on‑month decline, while remaining 7.8% higher than a year earlier.
Used-car market speeds up
‘Market liquidity improved noticeably in April,’ revealed Madas. ‘The average time needed to sell a used car dropped to 73.3 days, representing a 3.1‑day improvement month on month and a 1.2-day improvement year on year.’
HEVs sold fastest at 56.7 days, followed by BEVs at 68.3 days and by petrol cars at 71.4 days. This was followed by diesel cars at 79 days. PHEVs took the longest to leave forecourts at 88 days.
Looking ahead, %RVs are forecast to decrease further in the coming years, but at a slower pace. By the end of 2026, %RVs are expected to fall by 1.5% compared to December 2025. A further 0.5% drop is anticipated in 2027.
Demand improves in UK
The April 2026 Monthly Market Dashboard showed that demand improved in the UK’s used-car market. This was even as %RVs softened across most fuel types.
Month on month, the average %RV of a three-year-old car at 60,000km slipped by one percentage point to 47.4%. However, compared to 12 months earlier, it was 3.4pp lower.
Value retention performance weakened across most fuel types in April. BEV %RVs fell to 34.6%, down 1.7pp compared to March. PHEV values declined by 1pp to 44.5%. Petrol values eased by 1.2pp to 48.7%, and HEVs also dropped 1.2pp to 51.7%. Diesel values strengthened, rising 1pp to 58.3%.
Market-wide retail activity strengthened with the SVI indicating that transactions increased by 6.3% compared to March. The AMVI confirmed a 10.6% month-on-month increase in the volume of cars advertised on dealer forecourts.
The UK’s new-car market often sees delivery spikes in March and September, as new registration plates are released. This can affect supply into the used-car market as buyers wait for their new-plated vehicles.
‘This increased level of stock likely resulted from March’s plate-change,’ commented Jayson Whittington, regional head of valuations for the UK. ‘Nevertheless, the time it took dealers to sell a used car improved, dropping to 32.8 days on average. This marked a reduction of 5.6 days compared to March.’
Average days to sell varied notably by fuel type. Petrol and HEVs were the fastest movers, taking 31.4 and 31.7 days respectively, reflecting strong consumer demand. BEVs followed at 34.8 days, indicating steady turnover. PHEVs took longer to sell at 38 days, although they still experienced a 2.4-day improvement compared to March. Diesel vehicles took the longest amount of time to sell, averaging 40.3 days.
