Used convertible car prices have soared 10.5% year-on-year, according to car selling platform Motorway, as Britain's record hot summer and a shrinking supply of soft-tops boost values. The increase between May and mid-August far outstripped the wider car market, where prices rose just 0.6%.
Audi TT leads price surge
The Audi TT topped the table, with average prices jumping 16.3% on last year, which itself saw strong demand thanks to the previous record-breaking summer. The average price for a TT Roadster rose from £10,630 to £12,365 over the past year, helped by the fact the German car giant Audi ended production of the model in late 2023.
The second biggest rise was for BMW Z4 soft tops - which went out of production last year - where prices jumped by 13% to an average £18,255. The most affordable convertible in the top five is VW's Beetle, at an average £9,619, and up 5.2% on last year.
Convertible popularity plummets
The popularity of convertible cars has plunged over the past two decades, as motorists are tempted by more fashionable models. Previous figures from industry experts the Society of Motor Manufacturers and Traders showed sales of new open-tops have fallen by nearly 90% over the last 20 years, from 109,171 in 2005 to just 11,484 last year.
The rapid decline has coincided with a dramatic rise in the popularity of Sports Utility Vehicles, or SUVs, with their higher driving position. Last year SUVs accounted for 59% of car sales across Europe, according to the research company Dataforce GmbH.
Prices could climb further
Rob Nicholls, principal data scientist at Motorway, said of the price surge: “When the sun's out, everyone wants to feel the wind in their hair, and in a summer like this one, dealers are desperate to add convertibles to their forecourts. If this heat becomes a fixture of UK summers, I expect more people will be keen to have the right car to make the most of it.”
Prices could continue to climb given warnings that a looming “super” El Nino could bring another record summer in 2027, along with wider signs of climate change. Yet it comes as manufacturers continue to ditch roadsters, with the number of new convertible models on sale in the UK slipping to a 20-year low, with just 11 available from the 30 most popular brands.
