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Home » Analysis » Market Analysis » UK Weekly Used Car Market Data – 16th December 2023

UK Weekly Used Car Market Data – 16th December 2023

Price increases on the way up, used car listing volumes  in the £10-20k band start to increase and the number of ads and listings across the market increases.

Key Points

  • The total market analysis data shows that all variables, except for Total Advert Numbers and listings above £50,000, have increased between 9th and 16th December 2023, reflecting an expanding market.
  • The Days on the Market (DoM) average has slightly increased from 82 to 83 during the same period, indicating a slight slowdown in selling speed.
  • The breakdown of listings by price bands shows a trend where listings for vehicles priced under £10,000 and between £10,001 to £20,000 have increased, while listings in the remaining bands showed a marginal decrease.
  • An analysis of dealers by advert volumes shows an increase in the number of dealers with less than 100 adverts and those listing between 101-250 adverts, while the top 100 dealers by volume showed little change.
  • Price revisions show a considerable increase in the number of increase revisions compared to decrease revisions, indicating a potential bullish sentiment in the market.

Total Market Analysis

The total market has shown a progressive increase from the 9th to the 16th of December, 2023. The total number of dealers increased from 9,976 to 10,098 and total rooftops went from 13,958 to 13,987. However, there’s a slight decrease of 7,599 in the total advert numbers.

Days on Market (DoM) Average

The data presents an increased days on market average rising from 82 to 83 days. This signifies a slowdown in how quickly vehicles are being sold.

Breakdown of Listings by Price Bands

Image showing breakdown of listings by bands

The listings for vehicles priced under £10,000 and between £10,001-£20,000 have seen an increase, although the bands above this range showed a slight decrease. This trend perhaps mirrors buyer demands and affordability.

Number of Dealers by Advert Volumes

Image showing No of dealers By adverts volume

The data reflects an increase in the number of dealers posting lower volumes of adverts, specifically less than 100 and between 101 to 250. On the other hand, dealers with higher advert volumes of 1000+ have decreased marginally. This could indicate a diversification of sellers in the market.

Analysis of Top 100 Dealers by Volume

Image showing Top 100 Dealers analysis

Dealers forming the top 100 by volume show minimal change over this week, with stock volumes rising slightly, and average price exhibiting a minor decrease.

Price Revision Data – Changes to Advert Prices

There have been almost double the number of price increase revisions compared to decrease revisions in the analysed period. This could be perceived as a bullish sentiment, with sellers feeling confident to ask for higher prices.

Conclusion

In conclusion, the analysed market data portrays an expanding market with an increase in sellers. However, the demand seems to be focused on vehicles within lower price bands. Although the selling speed has slightly decreased, this is counterbalanced by the strong bullish sentiment indicated by the significant increase in price revisions.