Navigating the nuance of the UK used car market may seem daunting, but armed with the right insights, automotive businesses can formulate winning strategies. This report delves into the movements within the used car market, including both traditional combustion engine vehicles (ICE) and electric vehicles (EVs). Armed with the latest data from Marketcheck UK, this analysis aims to paint a clear picture of the industry’s current dynamics.
Understanding the ICE Used Car Market
The week commencing 29th November 2015 saw a total of 629,106 used ICE cars listed by 10,564 dealers. The majority of these vehicles were priced within the £10,000 – £20,000 bracket.
In terms of dealer advert volumes for ICE vehicles, we saw a spread between 0-100 vehicles per dealer.
Investigating the top 100 dealers for ICE vehicles highlighted that they accounted for 37.7% of the total listing volume, selling above the market average price.
Unpacking the Electric Used Car Market
As the new generation of vehicles, the electric used car market is showing promising growth. During the same period, there were a total of 40,043 used EVs listed by 2,830 dealers. The distribution of price bands for these was somewhat evenly spread.
Fascinatingly, the trend for EV dealer volumes mimicked that of ICE vehicles, with most dealers having between 0-100 vehicles.
Finally, the top 100 EV dealerships accounted for 25.2% of total EV listings, with vehicles selling above the average market price.
Comparison: ICE vs EV
When it comes to both types of vehicles, there are noticeable disparities within the automotive industry. While the ICE market had a wider price range and dealer participation rate, the electric used car market stands out for its consistent growth and the fact that prices tend to be higher. We aspire to help businesses navigate the intricate landscapes of both ICE and EV markets in the UK, all thanks to the wealth of industry data at our disposal.
Whether you are an automotive dealer, an insurance company, an investor, a car auction business or a finance lender or broker, make use of our reports to understand the market better. With Marketcheck UK, you’re one step closer to leveraging the power of automotive market insights to foster business growth.