In a recent analysis of the second-hand car market, Independent Advisor Car Insurance reveals that Porsche owners are leading the pack in reselling their vehicles.
The study, conducted by Independent Advisor, delved into Auto Trader, the second-hand car online marketplace, to examine the prevalence of 12 top car brands in listings compared to their registered numbers in the UK.
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The findings shed light on the dynamics of car ownership, with the number of listings expressed as a percentage of registered cars serving as a metric for owner turnover, or "fickleness."
According to the study, Porsche owners emerged as the most likely to part ways with their vehicles, with 3.81% of registered Porsches (7,124 cars) listed on the second-hand market.
Among the most commonly listed Porsche models, the 911 took the lead with 2,277 listings, boasting an average price of £87,667. Following closely behind are Land Rover owners, who ranked second for resale activity. With 21,082 Land Rovers listed for sale, representing 2.51% of the total registered, Land Rover owners exhibit a significant propensity for selling their vehicles.
The Range Rover Evoque emerges as the most frequently listed Land Rover model, with 4,517 listings averaging £22,292, closely trailed by the Range Rover Sport with 4,467 listings at an average price of £44,258.
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By GlobalDataBMW owners secured the third spot in the study, with 41,353 listings. However, this translates to only 2.28% of the 1,810,949 BMWs registered in the UK. The 3 Series emerges as the most common BMW listing, boasting an average price of £12,676.
In contrast, Vauxhall owners appear to be the least inclined to part with their vehicles, with just 0.92% of registered Vauxhalls listed for sale. The most prevalent listing among Vauxhalls is the Corsa, with 7,721 listings averaging £5,985.
Methodology
Independent Advisor scraped data from Auto Trader, including make, model, fuel type, price, and location of listings, resulting in a sample of over 132,000 cars. Registered car numbers for each brand were obtained from gov.uk data as of Q3 2023 to assess popularity. A ratio of listings to registrations was calculated to gauge demand and retention.
The percentage of listings compared to registered cars was used to identify which owners are most likely to sell. Data on total listings and average prices per model were also gathered. While Auto Trader is a major UK automotive marketplace, variations may exist in other platforms. The study's data is accurate as of 26/03/2024.
