Read QAR to access in-depth data, trends, and analysis on the used vehicle market. Check out a snippet from Issue 9 below and read the full report here.
The first quarter of 2026 was shaped by a mix of economic caution, geopolitical uncertainty, and shifting buyer priorities across the used vehicle market. January and February tracked broadly as expected, but March introduced some volatility as rising petrol and diesel prices pushed running costs back into sharper focus for households and fleets.
That pressure appears to have influenced where buyers directed their attention. In March, Pickles recorded a 163 per cent increase in searches for electric vehicles across its website. The additional views translated into increased buyer activity with average EV bidders increasing 45 per cent compared to February.
The back end of March saw EV auctions experiencing 100 per cent clearance rates and a record number of EVs selling nationally. The increased competition resulted in EV prices jumping 20-30% or $10-12,000 across March and into April. While alternate fuel vehicles are now a key focus, smaller, more fuel-efficient vehicles also remain popular.
While much of the attention was on EVs, the broader used market remained relatively resilient. The Datium Insights Used EV Index rose to 107 per cent, while petrol and diesel vehicles largely flattened towards the end of the quarter resulting in a five per cent reduction when comparing Q1 2026 to Q1 2025. That suggests demand did not fall away completely, but it did become more selective as buyers weighed fuel spend more carefully.
If you’re ready to sell, talk to Pickles about how to maximise returns on every asset.
Figure 1a: Used Car Price Index by fuel type (3-month rolling average) relative to January 2020 prices
