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Home » Analysis » Market Analysis » UK Weekly Used Electric Car Market Data – 30th December 2023

UK Weekly Used Electric Car Market Data – 30th December 2023

Holiday drop? The last week of the year saw 50 fewer dealers selling EV’s and a significant increase in days to market from 71 to 78 days.  More than likely just reflecting the time of year but January will be interesting to see if the trend reverses.

Key Points

  • There was a slight decrease in total dealers and rooftops from 4107 to 4052 and 7097 to 7009 respectively between 23rd and 30th December 2023.
  • The average days on market (DoM) increased from 71 to 78 within the same period, indicating slower sales of electric cars.
  • Comparing the listing of electric cars by price bands indicates a decrease across all brackets, with cars priced over £50,000 seeing the least drop
  • Dealers with less than 100 adverts, those in the range 101-250 and dealers having 1000+ adverts decreased, while the dealers in the 251-500 adverts range slightly increased.
  • The analysis of dealers making up the top 100 by volume showed there’s a slight decrease in stock volumes and an increase in DoM. The average price also went up from £28,992 to £29,754 between December 23rd and 30th 2023.

Total Market Analysis

The market analysis for the period 23rd to 30th December 2023 indicates a slight decrease in the number of total dealers, from 4,107 to 4,052 while the total rooftops also dropped marginally from 7,097 to 7,009.

Days on Market (DoM) Average

The DoM average, a measure of how long cars take to sell, saw a gradual increase from 71 to 78 over the course of the week.

Breakdown of Listings by Price Bands

The data shows a general decrease in listings across all price bands, with the smallest decrease observed in the over £50,000 price band. During this period, the listings in this bracker increased from 4,268 to 4,619.image depicting Breakdown of listings by price bands

Number of Dealers by Advert Volumes

Most dealers had less than 100 adverts, thus a marginal decrease was observed in this band. Interestingly, the 251-500 range saw a slight increase, from 19 to 20. However, the most significant drop is in the 1000+ adverts range, falling from 7 to 6.image depicting Number of Dealers by Advert Volumes

Analysis of Top 100 Dealers by Volume

Observing the top 100 dealers by volume, there was a marginal decline in stock volumes from 37,797 to 37,598. However, the average price increased from £28,992 to £29,754. This is alongside a notable increase in the Days on Market (DoM), rising from 58 to 67.image depicting top 100 dealers

Price revision data – changes to advert prices

The period saw drastic reductions in the numbers of both price increases and decreases. Price increases fell from 2,172 to 670, while price decreases saw a reduction from 12,832 to 8,509.

Conclusion

To sum up, the electric car market saw a marginal decline in dealer numbers, and total rooftops. However, cars in the higher price band of over £50,000 defied this trend and showed a slight increase. The DoM revealed a trend of slower sales. Pricing data showed a significant decline in both increases and decreases, with decreases being more frequent.