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Home » Analysis » Market Analysis » UK Weekly Used Electric Car Market Data – 20th January 2024

UK Weekly Used Electric Car Market Data – 20th January 2024

Key Points

  • The total number of dealers and rooftops boosted slightly from 4107 and 7138 to 4115 and 7192 respectively, between 13th and 20th January 2024.
  • The average days on market rose from 75 to 76 while the average price of listing slightly decreased from £28,549 to £28,367.
  • Listings below £10,000 and between £10,001 to £20,000 showed an increase, but listings in the higher ranges from above £20,000 observed a slight drop during the week.
  • Majority of dealers have less than 250 ads, and there was a small increase in dealers with over 1000 ads.
  • The top 100 dealers exhibited a slight decrease in stock volumes, average pricing, and there was no change in their Days on Market Average.

Total Market Analysis

From 13th to 20th January 2024, slight improvements were noted in the electric cars market. The total number of dealers grew mildly by 0.19% from 4,107 to 4,115. Similarly, the rooftops increased by 0.75% from 7,138 to 7,192. On the other hand, the total advert numbers climbed from 109,469 to 109,998.

Days on Market (DoM) Average

The DoM Average too experienced a small ascent from 75 to 76 days. This illustrates a slight elongation in the average time dealers take to sell a car.

Breakdown of Listings by Price Bands

During this week, listings priced under £20,000 showed a growth, while higher priced listings exhibited a downturn. The highest increase was seen in the under £10,000 band with an increase of 3.37% from 1,807 to 1,868. Conversely, listings over £50,000 faced the largest drop of 2.35% from 4,679 to 4,569.Breakdown of listings by bands

Number of Dealers by Advert Volumes

The majority of dealers still advertise less than 250 cars, consistent across both periods. Interestingly, there’s been a small increase in dealers with over 1,000 adverts, rising from 7 to 8.No of dealers By adverts volume

Analysis of Top 100 Dealers by Volume

The top 100 dealers by volume revealed a moderate reduction in stock volumes and average pricing. However, the Days on Market (DoM) remained the same at 63 days. The stock volumes and average price saw a dip of 1.06% and 1.05% respectively.Top 100 Dealers

Price revision data – changes to advert prices

There were more decreases than increases in advert prices, which is consistent across both periods. However, the number of increases dropped by 29.07% from 2,205 to 1,563, and decreases also fell by 3.07% from 14,122 to 13,688.

Conclusion

In conclusion, the electric car market between 13th and 20th January 2024 showed some fluctuations. Overall, although there were changes in several areas, they were minor albeit significant enough to influence the market trends.