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Home » Analysis » Market Analysis » UK Weekly Used Electric Car Market Data – 9th December 2023

UK Weekly Used Electric Car Market Data – 9th December 2023

Welcome to our first weekly summary of the used car EV market. Every week we be publishing the key headline indicators about the performance of the used EV market.

Key Points

  • The total dealers in the electric car market increased from 3,952 to 3,989 between 2nd and 9th December 2023, a slight upward trend suggesting more market entrants.
  • Average listing prices dropped slightly from £28,971 to £28,828 within one week, indicating possible market fluctuation.
  • Number of advert volumes for dealers with less than 100 adverts were observed to be almost constant at 3,759 and 3,777 respectively.
  • A comparison of the Breakdown of Listings by Price Bands shows the £20,001-£30,000 band had the highest listings in both periods.
  • The data shows a significant increase in the number of decreases in advert prices from 12,644 to 13,436 in one week, suggesting a volatile market.

Total Market Analysis

The total number of dealers in the electric car market increased from 3,952 on 2nd December 2023, to 3,989 on 9th December 2023, indicating the market is growing with new entrants. The total rooftops increased from 6,912 to 7,011 within the same period.

Days on Market (DoM) Average

Interestingly, there was no noticeable change in the Days on Market Average as it consistently remained at 70 in both periods.

Breakdown of Listings by Price Bands

The £20,001-£30,000 price band reported the highest number of listings in both periods, reaching 19,857 on 2nd December and peaking at 20,183 on 9th December. The detailed breakdown of listings reveals bands with prices below £10,000 also increased from 1,544 to 1,603.
Breakdown of listings by bands

Number of Dealers by Advert Volumes

Dealers advertising less than 100 cars were the most: 3,759 on 2nd December and a slight rise to 3,777 on the 9th. However, dealers advertising more than 1,000 vehicles remained at 6 across both periods.

Number of dealers by advert volumes

Analysis of Top 100 Dealers by Volume

The stock volumes for top dealers slightly increased from 34,983 to 35,841 within one week period. The average price had a minor increase, sticking to £29,110 on 2nd December and £29,153 on 9th. The DoM remained constant at 57.
Top 100 Dealers by Volume

Price Revision Data – Changes to Advert Prices

In the comparison period, the number of decreases to advert prices moved from 12,644 to 13,436, representing a notable growth suggesting volatile market conditions. Yet, the number of advert price increases decreased.

Conclusion

In conclusion, the electric car market showed some growth and fluctuations within the short period comparing 2nd December 2023 and 9th December 2023. The data gathered provides a valuable snapshot of the market trends and conditions for electric cars, which can inform strategic decisions for market players.