Insights
Market Insights & Data
At MOTORS, we have a unique insight into the world of car buying and each month we publish Market View – an in-depth analysis of activity, including insight into stock, prices, days to sell and consumer demand.
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Market View
Market View
March 2024
at a glance
- Stock levels down -2.3% MoM and down -5.8% YoY.
- Driven by larger MoM declines in franchised and supermarket. Little change in independent stock YoY.
- A 12.0% share for alternative fuel vehicles shows continued growth YoY, up from 11.8% last year.
Stock levels have continued to drop from the post Christmas peak with average volumes down -2.3% MoM and down -5.8% YoY.
Average stock volume by dealership:
41.9
Feb 24: 42.9
Mar 23: 44.5
MoM: -2.3%
YoY: -5.8%
Average vehicle prices on motors.co.uk fell by -0.6% MoM.
Average vehicle price:
£16,766
Feb 24: £16,862
Mar 23: £18,455
MoM: -0.6%
YoY: -9.2%
Average days to sell decreased by -15% MoM as demand continued after the new year. However, the average is down -7.5% YoY, highlighting a strong market condition.
Average days to sell:
34.5
Feb 24: 40.9
Mar 23: 37.3
MoM: -15.6%
YoY: -7.5%
Alternative fuel vehicles accounted for 12.0% of all listings in February.
Peugeot 306 was the fastest selling EV, on average in
4.0 days
Toyota Estima Hybrid was the fastest selling hybrid, on average in
4.7 days
Top 10 most viewed manufacturers
The most viewed vehicle brand was Ford with 12.5% of total views. However, share of views dropped significantly by -10% MoM for Mercedes-Benz.
Top 10 fastest selling
makes/models
Vauxhall appeared four times in the fastest sellers, with the Corsa appearing three times, all selling in under 12 days. Nearly new Audi Q4 electric had high demand, selling in 13 days.
"Lower advertised prices helped drive faster used car sales in March with vehicles averaging just 35 days on physical and virtual forecourts: six days less than February and two days less than 12 months ago."
Lucy Tugby, Marketing Director, MOTORS
