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Home » Analysis » Market Analysis » UK Weekly Used Car Market Data – 6th January 2024

UK Weekly Used Car Market Data – 6th January 2024

Key Points

  • The total dealers witnessed a minimal reduction from 10,040 on 30th December 2023 to 10,011 on 6th January 2024.
  • A new peak was reached in total advert numbers, reaching 848,003 from 780,410.
  • Days on Market (DoM) Average remained stable at 92 days in both periods.
  • The average price of listings slightly decreased from £18,743.0 to £18,508.0.
  • The largest segment of listings by bands was the £10,001-£20,000 and the least was the > £50,000 category, on both dates.

Total Market Analysis

From the data given, it is clear there was a slight decrease in the number of dealers from 10,040 to 10,011. The number of rooftops also showed a miniscule increase from 13,952 to 13,976, thus implying consistent growth in the market.

Days on Market (DoM) Average

The Days on Market (DoM) Average remained stable at 92 days in both periods. This suggests a stable market with demand meeting supply adequately.

Breakdown of Listings by Price Bands

Breakdown of listings by bands.

The maximum number of listings remained within the band of £10,001-£20,000. There was a minimal increase from approximately 242,479 to 247,619. The least number of listings were observed in the > £50,000 category.

Number of Dealers by Advert Volumes

No of dealers by adverts volume.

Most dealers posted less than 100 adverts, with a minimal decrease from 9,216 to 9,202. There was a small increase in dealers posting 1,000+ adverts from 48 to 49.

Analysis of Top 100 Dealers by Volume

Top 100 Dealers analysis based on volume.

The stock volumes of dealers in the top 100 by volume displayed a slight decrease from 212,859 to 212,539. The average price declined from £22,573 to £21,687.

Price Revision Data – Changes to Advert Prices

The dataset shows an increasing trend in both price increase and decrease revisions. Increase changes jumped from 4,418 to 9,952 while decrease changes soared from 35,983 to 57,029.

Conclusion

In conclusion, the overall market analysis shows need for intense competiveness among dealers. Although, the Days on Market (DoM) showed stability, there was increased activity in advert revisions – well indicative of a highly active market. Additionally, the market demonstrated a leaning towards moderate price bands.

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