Larger, less fuel-efficient used cars dropped in value by up to 8% in a single month over the summer.
EurotaxGlass’s said vehicles such as large executive saloons and larger 4x4s are falling in value at above-average rates as more UK motorists focus on smaller vehicles to save on running costs.
Adrian Rushmore, EurotaxGlass’s managing editor, said: “The current economic climate has accelerated a trend of downsizing in all but the smallest used car segments.
“Dealers have reported that significant numbers of customers feel coerced into a change of car because their current mode of transport had become a financial drain on their incomes.”
Auction house Manheim reported that the average vehicle price in the fleet sector fell by £444, or 6%, to £5,121 during July, with a one month rise in average age to 44 months and an average mileage increase of 1,710 miles
MPVs were hit hard, with the average selling price falling £1,010 from June, a 16.2% tumble.
In cash terms, executive cars fell £1,124 or 12%.
Dealers saw the greatest fall in the off-road segment, where values fell £545 or 14%.
However, small coupé and large coupé models saw their average selling prices rise by 2.6% and 1.3% respectively.
Mike Pilkington, Manheim’s managing director, said: “The tougher market for wholesale used cars looks set to continue for some time.
“However, interest in the lower-priced ‘budget’ vehicles at auction remains high, confirming that there continues to be demand if the price is right.”