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Home » Analysis » Market Analysis » UK Weekly Used Car Market Data – 28th Oct 2023

UK Weekly Used Car Market Data – 28th Oct 2023

Key Points

  • The Total Dealers and Total Advert Numbers have seen a slight decrease from 21st October to 28th October 2023.
  • The average number of days on market (DoM) has increased slightly, implying slower sales in the later period.
  • In the breakdown of listings by bands, there are slight shifts in each price segment, with higher numbers of cheaper listings and fewer pricier ones.
  • The number of dealers by advert volumes did not change significantly, with minor drops in each category.
  • Change to advert prices revealed more price reductions than increases in the later period, suggesting a more competitive market.

Total Market Analysis

The market analysis reveals a slight downturn in numbers within one week. Total dealers declined marginally from 9,911 to 9,905, and the total number of adverts decreased from 953,668 to 925,924.

Days on Market (DoM) Average

The average time dealerships’ vehicles remained on the market before selling, represented as Days on Market (DoM), exhibited a minuscule increase from 75 to 77 days. This implies a slowdown in the velocity of sales in the latter period.

Breakdown of Listings by Price Bands

price band volume

The amount of listings under £10,000 and between £10,001 and £20,000 increased. However, there was a small dip for listings above £20,001. This data suggests a shift towards more affordable listings in the latter period.

Number of Dealers by Advert Volumes

Number of Dealers by advert volumes

The number of dealers in advert volume categories remained consistent with just minimal changes, reflecting stable dealership behaviours across the periods.

Analysis of Top 100 Dealers by Volume

Top 100 Dealers

An analysis of the top 100 dealers by volume showcases a steady scenario, with minor modifications in stock volumes, average price, and DoM.

Price revision data – changes to advert prices

Interestingly, there are more price reductions than increases moving from the first to the second period, suggesting that the market is becoming more competitive and dealerships are decreasing prices to maintain appeal.

Conclusion

In conclusion, while there are minor fluctuations in the data over the analysed week, the overall trend suggests a market transition with stable seller behaviour and a slight move towards lower-priced listings.