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Home » Analysis » Market Analysis » UK Weekly Used Electric Car Market Data – 6th January 2024

UK Weekly Used Electric Car Market Data – 6th January 2024

Key Points:

  • The total number of dealers, rooftops, and ad numbers increased slightly between 30th December 2023 and 6th January 2024, indicating growth in the electric car market.
  • The Days on Market (DoM) average decreased by one day during the same period, suggesting faster sales pace.
  • The £10,001-£20,000 and £20,001-£30,000 price bands showed a moderate increase in listings, while listings in the £40,001-£50,000 and > £50,000 bands decreased slightly.
  • Despite a minor decrease in the number of dealers with 251-500 adverts, other dealer categories saw a slight increase in advert volumes.
  • Price revision data showed a significant upward trend in both price increases and decreases, indicating greater price volatility in this period.

Total Market Analysis:

From 30th December 2023 to 6th January 2024, the electric cars market experienced moderate growth, with the total number of dealers increasing from 4,052 to 4,086 and the total rooftops from 7,009 to 7,099. Total ad numbers also increased, going up from 91,408 to 100,928 in just a week’s time.

Days on Market (DoM) Average:

On average, the Days on Market (DoM) – the time it takes to sell a car – decreased from 78 to 77 days, an indication of improved sales efficiency during this period.

Breakdown of Listings by Price Bands:

There was a moderate increase in the number of listings in the price bands of £10,001-£20,000 (from 19,522 to 20,319) and £20,001-£30,000 (from 20,220 to 20,444). However, listings in the £40,001-£50,000 and > £50,000 bands saw slight decreases.

Breakdown of listings by price bands graph

Number of Dealers by Advert Volumes:

The number of dealers with less than 100 adverts and those with 101-250 adverts increased slightly, going up from 3829 to 3866. Dealers with advert volumes between 251-500 saw a minor decrease.

Number of dealers by advert volumes graph

Analysis of Top 100 Dealers by Volume:

The stock volumes of the top 100 dealers by volume slightly decreased from 37,598 to 37,522, while the average price dropped from £29,754 to £28,839. However, their DoM reduced from 67 to 64 days.

Top 100 Dealers stock volume and average price graph

Price revision data – changes to advert prices:

Price revision data showed a significant increase in both price increases (from 670 to 1,806) and decreases (from 8,509 to 10,748), indicating greater price volatility.

Conclusion:

In conclusion, the data suggests a positive trend in the electric car market with slight increases in most categories. However, there were also noticeable fluctuations in vehicle listings and price revisions during this period.