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Retail and production

Car

New car registrations

74,441
(Feb '23, +26.2% YOY)

206,435
('23 YTD, +18.6% YTD)

The number of new cars registered in the UK every month.
SMMT  |  Updated 07/03/23

New car forecast

1.90m (upside)

1.71m (baseline)

1.61m (downside)

The Cox Automotive new car registration forecast - 2023 full year.
Cox Automotive  |  Updated 14/02/23

Used car transactions

1,571,295
(Q4 '22, -4.3% YOY)

6,890,777
('22 YTD, -8.5% YOY)

The number of used cars sold in the UK every quarter.
SMMT  |  Updated 14/02/23

Used car forecast

7.51m (upside)

7.09m (baseline)

6.88m (downside)

Cox Automotive used car transactions forecast - 2023 full year.
Cox Automotive  |  Updated 14/02/23

UK new car production

68,575
(Jan '23, -0.3% YOY)

68,575
('23 YTD, -0.3% YOY)

The number of new cars manufactured in the UK each month.
SMMT  |  Updated 07/03/23

Retail margin

£1,763
(Jan '23, -£31 MOM)


 
The average margin between cars bought on Dealer Auction and retailed on Auto Trader.
Dealer Auction  |  Updated 07/03/23

Retail demand

+7%
(Feb '23, YOY)


 
Demand is a measure of consumer response on Auto Trader used car adverts.
Auto Trader  |  Updated 07/03/23

Used car supply

-12%
(Feb '23, YOY)


 
Supply is the level of used car stock in the market.
Auto Trader  |  Updated 07/03/23

Market health

+22%
(Feb '23, YOY)


 
Market Health is the balance between supply and demand indicating whether the used car market is stronger or weaker than previously.
Auto Trader  |  Updated 07/03/23

Median days before sold

25
(Feb '23, -1 YOY)


 
Market Health is the balance between supply and demand indicating whether the used car market is stronger or weaker than previously.
Auto Trader  |  Updated 07/03/23

Wholesale

Car

Average sold price

£7,161
(+£304 WOW)


 
The average sold price of used cars at Manheim Auction Services.
Manheim  |  Updated 21/03/23

Wholesale price index

145
(-5 WOW)


 
This index tracks the price performance of 2–4-year-old, 50K-70K, grade 1 to 5 cars sold through Manheim auctions relative to January 2020 prices.
Manheim  |  Updated 21/03/23

Average mileage

74k
(-2k WOW)


 
The average mileage of used cars at Manheim Auction Services.
Manheim  |  Updated 21/03/23

Average age

109.6
(-3 WOW)


 
The average age in months of used cars at Manheim Auction Services.
Manheim  |  Updated 21/03/23

First-time conversions

87%
(+0.0% WOW)


 
The percentage of used cars sold first time at Manheim Auction Services.
Manheim  |  Updated 21/03/23

CAP value movements

+1.0%
(Feb '23, MOM)


 
The average change at 3-year/60k miles in used cars CAP values each month.
cap hpi  |  Updated 01/03/23

Wholesale supply index

82.5
(+2.5 WOW)


 
This index tracks the supply of wholesale vehicles relative to January 2020 supply levels.
Manheim  |  Updated 21/03/23

Wholesale demand index

76.5
(-2.6 WOW)


 
This index tracks the demand for wholesale vehicles relative to whatever the start date was demand levels.
Manheim  |  Updated 21/03/23

Commentary

"In the crucial first quarter of the year, global production and new vehicle supply levels have exceeded expectations. In certain instances, we’re seeing shorter lead times and increased consumer and fleet incentives to register unsold product. The Cox Automotive Data Dashboard reflects this activity, with positivity in wholesale supply levels and first-time conversion rates. Despite caution towards used BEVs remaining, many are now considered good value. On the other hand, there is a high demand for ‘retail-ready’ petrol and diesel vehicles due to supply shortages caused by reduced production over the last three years, and we don’t anticipate values of these vehicles to ease any time soon."

Updated: 22/03/23

Philip Nothard, Insight & Strategy Director

Retail and production

Commercial vehicle

New LCV registrations

17,540
(Feb '23, +8.5% YOY)

39,638
('23 YTD, +17.5% YTD)

The number of new LCVs registered in the UK each month.
SMMT  |  Updated 07/03/23

Used LCV transactions

256,286
(Q4 '21, -7% YOY)

495,592
(+28% YTD)

The number of used LCVs sold in the UK every quarter.
SMMT  |  Updated 01/01/22

UK LCV production

9,299
(Jan '23, +35.6% YOY)

9,299
('23 YTD, +35.6% YOY)

The number of new LCVs manufactured in the UK each month.
SMMT  |  Updated 07/03/23

New HGV registrations

40,716
('22, +9.6% YOY)

11,312
(+14.4% '22 YTD)

The number of new HGVs registered in the UK each quarter.
SMMT  |  Updated 22/02/23

Wholesale

Commercial vehicle

Average sold price

£8,620
(+£797 WOW)


 
The average sold price of used LCVs at Manheim Auction Services
Manheim  |  Updated 21/03/23

Average age

80.5
(-6.3 WOW)


 
The average age in months of used LCVs at Manheim Auction Services.
Manheim  |  Updated 21/03/23

Average mileage

82k
(-2k WOW)


 
The average mileage of used LCVs at Manheim Auction Services.
Manheim  |  Updated 21/03/23

CAP average

100.3%
(+1.7% WOW)


 
The average CAP performance of used LCVs sold at Manheim Auction Services.
Manheim  |  Updated 21/03/23

First-time conversions

84.9%
(+1.7% WOW)


 
The percentage of used LCVs sold first time at Manheim Auction Services.
Manheim  |  Updated 21/03/23

CAP value movements

+0.0%
(Feb '23, MOM)


 
The average change at 3-year/60k miles in used LCVs CAP values each month.
cap hpi  |  Updated 01/03/23

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