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Home » Analysis » Market Analysis » UK Weekly Used Car Market Data – 13th January 2024

UK Weekly Used Car Market Data – 13th January 2024

Key Points

  • The total number of dealers and rooftops has increased marginally between 6th January and 13th January 2024. Total advert numbers saw a more significant increase during this period.
  • The Days on Market (DoM) Average maintained at 92 days across both dates. However, the average price of listing decreased slightly in the second week of January.
  • The breakdown of listings by price bands reveals that the majority of listings fall in the under £10,000 and £10,001-£20,000 categories. There was an overall increase in listings across all price bands, except in the £20,001-£30,000 range, which saw a slight decrease.
  • The majority of dealers have less than 250 adverts, with a small increase observed in the second week of January. Dealers with a large volume (1000+), on the other hand, declined slightly in number during this period.
  • Regarding the Analysis of Top 100 dealers by volume, the average price decreased while the Stock Volumes and DoM stayed the same. The data suggests significant price revisions, with more decreases than increases across both weeks.

Total Market Analysis

The total market analysis data from 6th and 13th January 2024 demonstrate a slight, but steady, growth in the number of dealers and rooftops. Respectively, they increased from 10,011 to 10,078 and from 13,976 to 14,037. Interestingly, the rise in total advert numbers was more potent, from 848,003 to 891,769.

Days on Market (DoM) Averages

Maintaining consistency, the days on market (DoM) average stood at 92 across both dates. The average price of listing showed a slight dip from £18,508 to £18,478.

Breakdown of Listings by Price Bands

Upon analysing the breakdown of listings by price bands, we found the majority clustered under £10,000 and £10,001-£20,000 categories. Over the week, listings increased across all price bands, save for the £20,001-£30,000 range which showed a slight contraction.

Graphic representation of listings by price bands

Number of Dealers by Advert Volumes

In terms of number of dealers by advert volumes, the data shows that most dealers sport less than 250 adverts – a number that slightly increased by the second week of January. Conversely, dealers with high advert volumes (1000+) saw a minor decrease during this period.

Graphic representation of dealer advert volumes

Analysis of Top 100 Dealers by Volume

The analysis of top 100 dealers by volume reveals stagnancy in Stock Volumes and DoM, at 65 days. However, there was a decrease in the average price from £21,687 to £21,568.

Graphic representation of top 100 dealers by volume

Price Revision Data – Changes to Advert Prices

Upon analysing price revision data – changes to advert prices, there proved to be a considerable number of price revisions, with decreases outnumbering increases across both weeks.

Conclusion

In conclusion, this analysis provides a fascinating insight into the dynamic nature of the market. The stable DoM Average suggests a reasonably steady consumer demand, whereas the slight increase in dealer numbers hints at a growing market. The dip in average price points towards increased competitiveness among dealers, underpinned by regular price revisions.