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Home » Analysis » Market Analysis » UK Weekly Used Car Market Data – 11th Nov 2023

UK Weekly Used Car Market Data – 11th Nov 2023

A shift towards lower prices?

Does our weekly data now suggest that UK used market is softening week to week?

Read on >

Key Points

  • The total numbers of dealers and rooftops have seen a marginal increase between the 4th and 11th of November, 2023, from 9,901 to 9,989 and from 13,313 to 13,511 respectively.
  • The average price of listings has dropped marginally from £18,952 to £18,887, however, the average number of days on the market has experienced a slight increase from 77 to 78 days.
  • In the breakdown of listings by price bands, most brackets have seen a minor increase other than the categories £30,001-£40,000, £40,001-£50,000, and above £50,000 which all saw a minor decrease.
  • With regard to the number of dealers by advert volumes, there has been a minor increase in the less than 100 adverts category and 101-250 adverts category, while the other categories slightly decreased.
  • Lastly, the analysis of the top 100 dealers by volume revealed a minimal increase, from 216,037 to 216,102, however, the average price and the days on market (DoM) both decreased over the same period.

Total Market Analysis

Between the 4th and 11th of November, 2023, the total dealer count rose from 9,901 to 9,989, with the total rooftops similarly rising from 13,313 to 13,511.

Days on Market (DoM) Average

The average days on the market (DoM) also increased slightly from 77 to 78 days which might indicate a slightly slower market and an increase in competition amongst dealers.

Breakdown of Listings by Price Bands

Dealers Advert Volumes

A minor increase was observed in the categories under £10,000 and £10,001-£20,000. However, the categories between £30,001-£50,000 and above saw a minor decrease.

Number of Dealers by Advert Volumes

During this time frame, dealers advertising fewer than 100 volumes and 101-250 volumes experienced an increase. Alternatively, dealers advertising in the 251-500, 501-1000, and 1000+ ranges saw a slight decrease. This could be related to market saturation in upper price categories or specific seasonal factors.

Breakdown of Advert Volumes

Analysis of Top 100 Dealers by Volume

The stock volumes of the top 100 dealers minutely increased, whereas their average price and DoM lightly fell. This slight change raises the question of whether high volume dealers are becoming more competitive in terms of pricing and turnaround times.

Top 100 Dealers by Volume

Price Revision Data – Changes to Advert Prices

The reporting period saw 8,226 price increases and 79,531 decreases. The following week, these numbers grew to 11,163 and 90,610. This data suggests there may be a trend towards reducing prices, which could be indication of a competitive marketplace.

Conclusion

In conclusion, this analysis highlights a competitive marketplace with signs of increased competition amongst dealers and a slight shift towards lower prices. However, the changes are relatively minor, indicating a stable market.