Skip to content
Home » Analysis » Market Analysis » UK Weekly Used Car Market Data – 18th Nov 2023

UK Weekly Used Car Market Data – 18th Nov 2023

Key Points

Another week of only small changes. There is more change in the EV market and I will shortly publish some analysis of that on Linked In and on the News section.

There has been a significant number of smaller dealers closing their doors in the last 12 months. One contact of ours who runs a buying group said he had lost 10% of his group due to early retirement, forced closure and simply ‘shutting up shop’.

  • The total number of dealers and rooftops have witnessed a very minimal decrease and increase respectively from 11th to 18th November 2023.
  • There is a slight increase in the Days on Market (DoM) Average, indicating that properties are taking longer to sell.
  • The breakdown of listings by bands shows a general consistency across different price ranges, with minor increases or decreases in each category.
  • When looking at the number of dealers by advert volumes, most dealers have less than 100 adverts, with a very small percentage having over 1000.
  • An analysis of the top 100 dealers by volume shows a slight decrease in stock volumes, but consistency in average price.

Total Market Analysis

The overall stability of the market is evident from the data for 11th to 18th November 2023. Total dealers and rooftops have barely changed, indicating a steady market. Specifically, the number of dealers decreased slightly from 9,989 to 9,982, while rooftops increased from 13,511 to 13,670. Advert numbers also recorded a slight decrease from 936,985 to 936,091.

We will be capturing more of this data in Q1 2024 and also aim to track financial performance so we can categorise the reasons for these changes.

Days on Market (DoM) Average

The DoM has increased from 78 to 79 days in the same period, suggesting that properties are taking an additional day to sell.

Breakdown of Listings by Price Bands

Breakdown of listings by bands graph image

The breakdown of listings by price bands shows little change across all ranges. Dealers with listings under £10,000 increased from 164,714 to 165,748. Those within the £10,001-£20,000 range also increased from 240,646 to 240,993. Listings above £20,000 saw a marginal decrease across the board.

Number of Dealers by Advert Volumes

Number of dealers by advert volumes graph image

Most dealers (9,164) have less than 100 adverts. Slightly above 100 dealers have between 251 and 1,000 adverts; the number having above 1,000 adverts has decreased from 50 to 47 within the one-week span. We are debating whether or not to include this table as there is usually very little movement.

Analysis of Top 100 Dealers by Volume

top 100 dealers volume graph image

The top 100 dealers by volume experienced a slight decrease in stock volumes from 216,102 to 213,464. However, the average price has remained steady at around £22,178.

Price Revision Data – Changes to Advert Prices

Numerous price revisions have been observed with more decreases (from 90,610 to 88,494) than increases (from 11,163 to 9,582). These numbers are now multiples of the data we saw in the middle of the year with car prices being much more aggressively reduced than only 4 months ago.

Conclusion

The market analysis data reveals a relatively stable market with minor fluctuations across the board.