Key highlights include:

  • Consumer demand metrics in January surpassed most expectations, with site visits to Auto Trader increasing 14% over the prior year, providing cautious optimism for 2023.
  • Used car sales increased 8% year-on-year based on the stock removed from Auto Trader in January, marking a robust start to the year.
  • The Auto Trader used car market health metric was positive for the first time in over a year, increasing 8% year-on-year in January as supply slows and demand picks-up.
  • Used car retail prices increased by 2.7% on a year-on-year and like-for-like basis.
  • Following the seasonal slowdown in December, used car prices picked-up in January, increasing 0.2% on a month-on-month basis. This movement matches the average retail price change seen in pre-pandemic Januarys between 2011 and 2019.
  • Supply of used EVs continues to outstrip demand, which has led to retail prices falling for five consecutive months (-2.1% MoM in January).

Find the report HERE