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Home » Analysis » Market Analysis » UK Weekly Used Electric Car Market Data – 9th March 2024

UK Weekly Used Electric Car Market Data – 9th March 2024

Overview of the Electric Car Market in the UK

The data for the week starting 2nd March 2024 shows a notable trend in the used electric car market, with a slight increase in total listings from 115,813 to 119,013. This uptick indicates a growing inventory and perhaps a rising interest in electric vehicles (EVs) among UK consumers. Dealerships need to be aware of these trends to optimise their stock and meet consumer demand efficiently.

Analysis of Price Bands and Dealer Volumes

Breakdown of Listings by Price Bands

The distribution of electric cars across different price bands provides valuable insights into consumer preferences and market positioning. With 22,268 listings in the £0-£10K range and 20,538 in the £10K-£20K range, it’s clear that the more affordable segments dominate the market. However, there’s a noticeable presence in the higher price bands, suggesting a market segment with a preference for premium electric vehicles.

Electric Car Market Price Range Visualisation graph

Number of Dealers by Advert Volumes

The data shows a total of 4,235 dealers, with a majority hosting a smaller inventory, indicating a fragmented market with numerous players. This scenario presents an opportunity for dealers to differentiate themselves by focusing on niche markets or offering specialised services.

Electric Car Market Dealer Advert Volume Visualisation graph

Analysis of Top 100 Dealers by Volume

The top 100 dealers, holding a significant portion of the market stock, exhibit an average ‘days on market’ (DOM) of 56 days. This faster turnover compared to the broader market suggests that these dealers are effectively meeting consumer demands, likely through strategic pricing and marketing.

Electric Car Market Top 100 Dealers Analysis graph

Marketcheck UK’s Role in Providing Actionable Insights

Marketcheck UK offers comprehensive data that can empower dealers to make informed decisions. By understanding trends such as average DOM, price fluctuations, and inventory levels, dealers can optimise their pricing strategies and stock selection. The data provided by Marketcheck UK is not just numbers; it’s a roadmap to navigating the complex terrain of the UK’s automotive market.