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Old Fiestas Prices Rise After Ford Announces To End Production Of The Hatch After 46 Years
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A used Ford Fiesta less than a year old now costs more than a brand new one.
Last week, the auto giant announced that it was ceasing production of its hatchback – after 46 years and nearly 5 million sales.
But in the past three years, used car prices have exploded. In October 2019, the average pre-owned price of a Ford Fiesta on the Auto Trader market was £7,363.
End of the road: Ford announced last week to end production of the Fiesta – after 46 years and nearly 5 million sales
Today, this price is up 42 percent to £10,473.
According to Auto Trader, the average price of a nearly new Fiesta that is less than 12 months old has increased by £4,300 to £23,601 in the past six months.
By comparison, a brand new equivalent costs £23,196, meaning the pre-owned model is £405 more expensive.
Erin Baker, of Auto Trader, says: “With Ford shutting down production, we’ve seen demand for the Fiesta rocket.
“Having a Fiesta in your driveway could be worth considerably more than you think and more than you originally paid for it.”
Ford says orders placed today will be delivered before April 2023.
Auto Trader says the pre-owned value of all cars is increasing at an annual rate of 8.2 percent, and 17 percent of cars under a year old are actually more expensive than their brand-new equivalents.
t.armstrong@dailymail.co.uk