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Home » Analysis » Market Analysis » UK Weekly Used Car Market Data – 25th Nov 2023

UK Weekly Used Car Market Data – 25th Nov 2023

Key Points

  • Between 18th and 25th November 2023, the Total Dealers decrease slightly from 9,982 to 9,953, while Total Rooftops increased from 13,670 to 13,777.
  • Advert numbers declined over the same period from 936,091 to 927,268, with the Days on Market Average (DoM) increasing from 79 to 81 days.
  • The average price for listings marginally decreased from £18,778 to £18,766, with a noticeable decrease in listings advertising vehicles priced under £10,000 and £30,01 to £40,000.
  • Dealers advertising 251-500 and 1000+ vehicles saw an increase, whereas those advertising less declined.
  • Of the top 100 dealers, the average listing price decreased, while stock volume slightly increased.

Total Market Analysis

The total market analysis indicates a slight decline in dealer numbers from 9,982 to 9,953 between the 18th and 25th November 2023. In contrast, the total number of dealership rooftops saw a modest rise, increasing from 13,670 to 13,777.

Days on Market (DoM) Average

The DoM, which represents the average duration listings are on the market, witnessed a slight increase from 79 to 81 days. This denotes longer durations for inventory to turn over.

Breakdown of Listings by Price Bands

The breakdown of listings by price bands indicates changes in the pricing strategy of dealers. Listings in the price band under £10,000 and between £30,001-£40,000 experienced a decrease, while listings in the band £10,001-£20,000 saw a mild growth.
Chart showing breakdown of listings by price band

Number of Dealers by Advert Volumes

The majority of dealers advertise less than 100 adverts or between 101-250. However, those advertising less than 100 have reduced, whereas those listing 251-500 adverts have increased. The trend suggests a slight move towards higher advert volumes.
Chart showing number of dealers by advert volume

Top 100 Dealers by Volume

A noteworthy trend among the top 100 dealers who exhibit the highest volume of adverts is that the stock volume increased from 213,464 to 213,577, even as the average price of listed vehicles reduced from £22,150 to £22,088.
Chart showing analysis of top100 dealers by volume

Price Revision Data – Changes to Advert Prices

While the number of adverts witnessing an increase in price reduced significantly, the number of adverts with a price decrease also saw a reduction between the two periods.

Conclusion

To conclude, the market appears to be stable with minor fluctuations that are typical of market dynamics. The increasing trend towards higher advert volumes and the extension in DoM suggest areas for future insight and analysis.