Skip to content
Home » Analysis » Market Analysis » UK Weekly Used Electric Car Market Data – 17th February 2024

UK Weekly Used Electric Car Market Data – 17th February 2024

Dive into the latest developments in the UK’s used electric car market with our detailed analysis for the week ending 17th February 2024. Our report highlights dealer trends, pricing dynamics, and market stability to guide buyers, sellers, and analysts.

Key Points

  • Total dealers in the electric car market have shown a marginal increase of 74 between 10th and 17th February 2024.
  • The average time electric cars spend on the market remains constant at 72 days in the same period, underscoring stable demand.
  • There has been a slight increase in the number of cars listed in the lower price range under £10,000 and a slight drop in cars priced £40,001-£50,000.
  • The highest volume of dealer adverts were within the 100 ads range for both periods.
  • Despite higher price revisions lowering the prices, there was a slight increment in the average price of the top 100 dealers.

Total Market Analysis

The total number of electric car dealers in the market rose by 1.8%, from 4,143 on 10th February 2024 to 4,217 by 17th February 2024. The total number of rooftops similarly increased by 2%.

Days on Market (DoM) Average

The average Days on Market (DoM)—the average number of days cars are listed before selling—remained steady at 72 days over both periods suggesting a consistent demand for electric cars.

Breakdown of Listings by Price Bands

UK used electric car market breakdown of listings by price bands

A comparison between the two dates shows a significant number of cars fall within the £10,001-£20,000 price band, with slight increases in listings seen for cars priced under £10,000 and slight decreases in listings for cars priced £40,001-£50,000.

Number of Dealers by Advert Volumes

UK used electric car market number of dealers by advert volumes

The majority of electric car dealers are seen to have less than 100 adverts. This dealer category increased slightly by 1.5% from the period 10th February 2024 to 17th February 2024.

Analysis of Top 100 Dealers by Volume

UK used electric car market analysis of top 100 dealers by volume

The top 100 dealers by volume, compared between the two periods, experienced a minuscule decrease in stock volumes, but an increase in average price from £28,041 to £28,129.

Price revision data – changes to advert prices

While there were more price decreases than increases in both periods, the number of price revisions overall went downwards between the two periods.

Conclusion

In conclusion, the electric car market for the period between 10th February 2024 and 17th February 2024 showed stability with minor variations in listings per price band, dealer advert volumes, and dealer prices.