Tesla Model 3
Year in Rear-view
2023 was a challenging year for the industry. The need to embrace data to navigate a nuanced market has become even clearer. Being able to look ahead has been the key to finding success and keeping up with consumer trends.
Here’s how 2023 looked in numbers…1
Despite worries of supply constraints the market remained stable
+2.92% vs 2022
Demand remained strong
+8.62% vs 2022
Resulting in YoY Market Health growth
+5.57% vs 2022
With the market moving at an ever increasing rate...
Prices continued to grow
Average price of a used car
£12,999
£13,538
£15,204
£17,548
£18,076
Year
2019
2020
2021
2022
2023
Despite worries of used car prices dropping, the average price of used cars increased by 3% vs 2022
But how did retailers react with pricing strategies?
Vehicles left the market at a variety of price positions
13%
20%
37%
11%
3%
7,742,897
Number of car price changes in the last year
That's over 21,000 per day
This year we introduced Auto Trader Valuations for all retailers…
Over 20 million
Valuations requested per month
Take our Masterclass on pricing to market
Consumers changed what they’re searching for...
We saw interest in electric vehicles continue to increase
% share of ad views:
EVs
3.2% (+45.5% YoY)
VS
Rest of the fuel mix
Petrol 53.4% (-1.0% YoY)
Diesel 36.7% (-4.8% YoY)
Full/mild Hybrid 4.2% (+34.0% YoY)
Plug-in Hybrid 2.5% (+20.5% YoY)
With these 5 EVs leading the way in terms of demand:
Porsche Taycan
Jaguar i-PACE
Nissan Leaf
New opportunities in the market continued to appear throughout the year...
Go to Market Insight for a comprehensive view of the current market
Consumers continued to buy from distance…
As digital solutions begin to become the norm…
32 miles
Was the average distance consumers bought from in 2023
Volume of stock available for Home Delivery across the UK
Consumers had their say…
317,067
reviews left by consumers
57.2%
were replied to by retailers
As a result
over 1,500
customers were Highly Rated for their customer service
Take our Masterclass in Reviews
Watch the seriesWe strengthened our partnership with retailers
With our team of 240+ Retailer Support colleagues, to help them find their focus…
We had
18,911
goals-related conversations with retailers in 2023
Helping
1 in 2 retailers
set a clear strategy and achieve their business goals with the help of our 15 minute Focus-Finder
Find your focus and act with facts
As the year comes to an end, it's important to look ahead and establish a clear strategy so you can start the new year on the front foot.
Set the right goals and get the facts in as little as 15 minutes.
Looking forward to 2024
In our final webinar of 2023, we'll be looking ahead and making our predictions for what’s in store for next year, identifying what factors will shape the market and affect retailers in 2024. Plus, find out what product developments we're building to improve our valuations, helping retailers get a more accurate view of what their vehicles are worth.
Join us live on 12th December or catch up on-demand
Stay on top of the market with regular updates and insights
1 Auto Trader internal data, November 2022 - November 2023