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Home » Analysis » Used EV car market » UK Weekly Used Electric Car Market Data – 16th December 2023

UK Weekly Used Electric Car Market Data – 16th December 2023

New listings of used EV’s is up by almost 5000 week on week and Days on market 13 days less than ICE at 70 days – a further fall from the average of 75 days in October.

Key Points

  • The total number of dealers exemplifies an increasing trend from 3,989 to 4,068 between 9th and 16th December 2023.
  • Similar to dealers, the total rooftops, a representation of electric car market growth, slightly increased from 7,011 to 7,033 within the same period.
  • A considerable increase was witnessed in the total advert numbers from 102,350 to 107,440 during the week, portraying a rise in market promotion.
  • The average price for listings encountered a small drop from £28,828 to £28,637.
  • The number of adverts listed under price bands ‘£20,001-£30,000 and £10,001-£20,000, increased, suggesting a higher consumer demand at these price levels.

Total Market Analysis

The electric car market grew from 9th to 16th December 2023, as the overall dealer count increased from 3,989 to 4,068. Equally, rooftops rose from 7,011 to 7,033.

Days on Market (DoM) Average

The average days of an electric vehicle listing on the market remained constant at 70 days in both periods.

used electric vehicle sales analysis

Breakdown of Listings by Price Bands

Number of listings in different price bands

In the area of the price breakdown, listings under the price range of £20,001-£30,000 observed an increment from 20,183 to 20,855. The £10,001-£20,000 price band also witnessed a lift from 18,534 to 19,102 adverts. However, listings in the > £50,000 band dropped from 4,429 to 4,327.

Number of Dealers by Advert Volumes

Number of dealers in different advert volumes

Dealers listing between 100-250 adverts rose from 3,777 to 3,838. However, the number of dealers listing over 501 adverts indicated a slight increase from 10 to 13, but those with less than 100 adverts remained unchanged at 19.

Analysis of Top 100 Dealers by Volume

Data of Top 100 Dealers

Increasing from 35,841 to 36,970, the stock volumes of the top 100 dealers confirmed market growth. The average price exhibited a minor increment from £29,153 to £29,244, while the DoM stood constant at 57 days.

Price Revision Data – Changes to Advert Prices

A decrease in advert prices from 11,934 to 12,436 was complemented by a sharp increase in price revisions from 1,291 to 4,105.

Conclusion

The electric vehicle market showed substantial expansion between the two periods. The noticeable increase in the total number of dealers and adverts suggests larger market coverage and increased promotional activity. However, a consistent DoM index and fluctuating price revisions indicate the market’s dynamic nature.