Used car prices have now risen for 15 consecutive weeks since car showrooms reopened following the lifting of lockdown restrictions.
Because of the pace of price rises, Auto Trader has now taken the unusual step of sharing live market data for the first two weeks of August, rather than its regular end-of-month update.
The latest increase shows used car price increases of 6.2 percent so far in August, compared to 2019.
This is because of high demand and a shortage of supply, says the new and used car marketplace.
Indeed, petrol cars are in particularly short supply, with prices going up by 6.9 percent – used petrol car prices have now risen for a staggering 24 consecutive weeks.
Diesel is not being demonised though: an August increase of 6.3 percent marks 13 weeks of price growth.
Surprisingly, it is low emission alternative fuel vehicles (AFVs) that are running against the trend.
With plentiful supply, prices of used hybrids, plug-in hybrids and electric cars have actually been falling for 20 consecutive weeks now, dropping an average of 1.2 percent.
Contrast this with the performance of older cars aged 10-15 years, which have risen 10.3 percent; motors aged 5-10 years old are up 9.1 percent.
“It’s encouraging to see that over two and a half months after forecourts reopened, and with stock levels slowly returning to normal, prices have continued to climb,” said Auto Trader data director Richard Walker.
The surge is showing no signs of slowing in August either, he added.
Mr Walker admitted there are concerns over economic uncertainty and the ending of the furlough scheme.
“However, based on the exceptionally strong consumer metrics we’re observing, we’re confident that used car sales and prices will remain buoyant in the coming weeks.”