Skip to content
Home » Analysis » Market Analysis » UK Weekly Used Car Market Data – 3rd February 2024

UK Weekly Used Car Market Data – 3rd February 2024

Summary

The UK Weekly Used Car Market Data report for the week ending 3rd February 2024 reveals minor market fluctuations. There was a slight decrease in the total number of dealers and rooftops, while the average listing price experienced a small increase. The analysis showed a decrease in the number of days on market (DoM) indicating a marginal improvement in market movement. The breakdown of listings by price bands showed minor decreases across most categories, except for a marginal increase in the >£50,000 category. Price revision data highlighted more decreases than increases in advert prices, suggesting a trend towards price adjustments.

Key Points

  • A slight decrease was noted in the total number of dealers and rooftops from 27th January to 3rd February 2024, registering 10060 to 10029 and 14071 to 13957 respectively.
  • The average listing price saw a slight increase over the week from £18,263 to £18,298.
  • In terms of the breakdown of listings by bands, there were minor decreases in all categories except for the > £50,000 category which saw a marginal increase.
  • There was a minor decrease in the number of dealers by advert volumes across all categories except for the ‘1000+’ category, which saw an increase.
  • Price revisions were noticeable, with fewer increases but more decreases in advert prices, from 18,506 to 10,922 (increase) and from 59,032 to 62,678 (decrease).

Total Market Analysis

The total market analysis for the period between 27th January 2024 and 3rd February 2024 saw minor fluctuations. The total dealers saw a decrease from 10,060 to 10,029. Alongside, the total rooftops also showed a marginal decrease from 14,071 to 13,957. The total Advert numbers were slightly lower at 863,306 from a previous 871,927.

Days on Market (DoM) Average

The Days on market (DoM) average, representing the number of days a property is listed on the market before it sells, showed a positive trend by decreasing from 91 to 90. This indicates a slight improvement in market movement.

Breakdown of Listings by Price Bands

Looking at the breakdown of listing by price bands, every category saw minor decreases, except for the > £50,000 category which saw an increase, indicating a possible trend towards higher valued advertisements. The biggest decrease occurred in the £10,001 – £20,000 category.

UK used car market breakdown of listings by bands graph

Number of Dealers by Advert Volumes

The number of dealers by advert volumes largely decreased, with the 1000+ category noting an increased, indicating the survival of larger dealers despite the market conditions.

UK used car market number of dealers by adverts volumes chart

Analysis of Top 100 Dealers by Volume

The top 100 dealers by volume had minimal changes in stock volumes and average price. There was a slight increase in the DoM from 63 to 60, aligning with the overall trend in DoM average.

UK used car market top 100 dealers chart

Price Revision Data – Changes to Advert Prices

The price revision data indicated a significant increase in decreases in advert prices and a decrease in the number of increases, suggesting a potential price adjustment tendency.

Conclusion

In conclusion, the market showed minor fluctuations over the observed period. The average DoM slightly improved, hinting at an increased market movement. Advert prices revealed some adjustments, potentially due to the current market dynamics.