Understanding trends in the used car market is essential for dealers, finance companies, and investors. This analysis presents key data points for the week ending 21st December 2024, covering both internal combustion engine (ICE) and electric vehicle (EV) listings, pricing, and dealer activity.
Used Car Market Overview
The UK used car market remains active, with 621,158 ICE vehicle listings from 10,501 dealers. The average price for ICE vehicles stood at £18,465, with an average days-on-market (DOM) of 89 days.
Breakdown of ICE Listings by Price Bands
The distribution of ICE vehicle listings by price bands shows the following:
- £0-£10K: 184,516 listings
- £10K-£20K: 239,598 listings
- £20K-£30K: 113,917 listings
- £30K-£40K: 38,677 listings
- £40K-£50K: 14,647 listings
- £50K+: 19,722 listings
Most vehicles fall within the £10,000-£20,000 range, followed by the £20,000-£30,000 bracket, reflecting buyer demand for mid-range vehicles.
Number of Dealers by Advert Volume (ICE)
Dealer stock volumes are distributed as follows:
- 0-100 listings: 9,646 dealers
- 101-250 listings: 575 dealers
- 251-500 listings: 131 dealers
- 500-1,000 listings: 62 dealers
- 1,000+ listings: 55 dealers
The majority of dealers hold under 100 listings, while larger dealerships continue to dominate the market with higher stock volumes.
Analysis of the Top 100 ICE Dealers
The top 100 ICE dealers held 221,287 vehicle listings, accounting for a substantial share of the market. These dealers listed vehicles at an average price of £22,054, notably higher than the market-wide average.
Electric Used Car Market Overview
The electric used car market continues to expand, with 84,942 EV listings from 4,438 dealers. The average EV price stands at £26,707, significantly above ICE vehicle averages. The average DOM for EVs was 69 days, indicating faster sales compared to ICE vehicles.
Breakdown of EV Listings by Price Bands
- £0-£10K: 3,147 listings
- £10K-£20K: 29,881 listings
- £20K-£30K: 28,987 listings
- £30K-£40K: 12,488 listings
- £40K-£50K: 4,682 listings
- £50K+: 4,776 listings
The majority of EVs are priced between £10,000 and £30,000, with a smaller but significant number in the £50,000+ segment, reflecting premium models in the market.
Number of Dealers by Advert Volume (EV)
EV dealership volumes show a similar pattern to ICE dealers:
- 0-100 listings: 4,220 dealers
- 101-250 listings: 82 dealers
- 251-500 listings: 23 dealers
- 500-1,000 listings: 13 dealers
- 1,000+ listings: 13 dealers
The EV market remains highly fragmented, with a small number of high-volume dealerships.
Analysis of the Top 100 EV Dealers
The top 100 EV dealers accounted for 51,756 listings, pricing their vehicles at an average of £26,877. This suggests that larger EV dealers tend to stock higher-priced models.
ICE vs EV Market Share Comparison
- ICE Listings: 621,158 (86.33% of total market)
- EV Listings: 84,942 (13.67% of total market)
While ICE vehicles dominate the market, EVs continue to gain share. The price gap between ICE and EVs remains substantial, with EVs averaging £26,707, compared to £18,465 for ICE vehicles.
Top 10 Advertised EV Models
- Toyota Yaris: 4,054 listings
- Toyota C-HR: 2,999 listings
- Kia Niro: 2,886 listings
- Toyota Corolla: 2,667 listings
- BMW 3 Series: 2,082 listings
- Tesla Model 3: 1,966 listings
- Ford Kuga: 1,878 listings
- Hyundai Kona: 1,774 listings
- Toyota RAV4: 1,658 listings
- Hyundai Tucson: 1,616 listings
The Toyota Yaris remains the most advertised EV model, with Tesla’s Model 3 also ranking highly.
For detailed market insights, data feeds, or custom reports, contact Marketcheck UK.
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