Tuesday, 2 November 2010

Development of the UK used car market since 2008

One of the tools at our disposal for Car Arena is a database containing car valuation data from people generally interested in selling their car. The Database starts in May 2008 and contains over 470,000 valuations in total and so is a good sample of the used car market.

Recently we crunched some numbers on this database so we had some material for off page SEO and came up with some predictable but rather surprising results. The average age of a vehicle has increased, as you would expect, from about 4.5 years in 2008 and jumped to 6 years old in 2010. We also found the number of previous owners for a vehicle as reported by the DVLA (with the exception of cars with no previous owners as the data is unreliable) has only decreased by 2% for cars with just 1 or 2 previous owners. However enquiries are up by 10% for vehicles with 3 or more previous owners.

Additionally the Standard Deviation of the vehicle age only grows marginally over the sampled period so the data would suggest that people with new or nearly new cars are holding onto them for longer in 2010 whereas people who own older vehicles are more likely to sell.

The results of our report can be found below along with a graph of the data series

Month / YearAge
05/20084.91
06/20084.37
07/20084.42
08/20084.53
09/20084.55
10/20084.62
11/20084.78
12/20084.79
01/20095
02/20095.2
03/20095.57
04/20095.77
05/20095.79
06/20095.69
07/20095.64
08/20095.61
09/20095.56
10/20095.52
11/20095.49
12/20095.41
01/20105.41
02/20105.58
03/20105.6
04/20106.24
05/20105.97
06/20105.71
07/20106.13
08/20106.22
09/20105.97
10/20105.86

Graph of the above data

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