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Home » Analysis » Market Analysis » UK Monthly Used Car Market Data – 21st April 2023

UK Monthly Used Car Market Data – 21st April 2023

Data reported: 14/04/23 – 21/04/23

From April 14, 2023, to April 21, 2023, the UK car market continued to undergo changes. The total number of dealers remained stable at 9,511, while the total number of rooftops increased from 15,473 to 15,552.

Regarding advertising, the total number of advert listings increased from 541,867 to 555,313 during this period. The average number of days a car remained on the market increased from 50 to 56 days, indicating a slower selling rate compared to the previous week. The average price of listed cars decreased slightly from £19,519 to £19,410.

Analysing the breakdown of listings by price brackets, there were fluctuations observed in most categories. The under £10k and £10,001-£20k brackets experienced increases, while the £30,001-£40k brackets saw a slight decrease. Other brackets showed minimal changes.

Examining the number of dealers based on advert volumes, there were minor changes observed. The majority of dealers had less than 100 adverts, with 8,706 dealers in both weeks. The 501-1000 adverts category experienced a slight increase, while the remaining categories experienced minimal fluctuations or remained relatively stable.

Analysing the top 100 dealers by volume, their stock volumes increased from 201,668 to 206,379 during this period. The average price of their listings decreased from £22,891 to £22,652. The average number of days on the market (DoM) remained stable at 42 days. In terms of price revision, there was a decrease in the number of price increases from 9,160 to 7,119, and a significant increase in the number of price decreases from 39,702 to 44,960.

For dealers outside the top 100, their stock volumes increased from 340,199 to 348,934. The average price of their listings slightly decreased from £17,455 to £17,436. The average DoM increased from 56 days to 65 days. Regarding price revision, there was an increase in the number of price increases from 4,049 to 4,258, and an increase in the number of price decreases from 21,676 to 24,961.

In summary, the UK car market experienced further changes during this period, including an increase in the number of rooftops, an increase in advert numbers, a slower selling rate with an increased average DoM, and a slight decrease in the average price of listings. Fluctuations were observed in the breakdown of listings by price brackets, the number of dealers based on advert volumes, and the stock volumes, average prices, DoM, and price revisions for the top 100 dealers and those outside the top 100.