Auto Trader announces new support measures for retailers (1)
• Advertising packages will be free for February for all UK retailer customers
• Payment terms for January services will be extended by 30 days
Auto Trader , the UK’s largest marketplace for new and used cars, has today announced its support for all UK retailer partners following the latest lockdown restrictions affecting all nations of the UK. Auto Trader is providing its advertising packages for free for the month of February and an extension to its payment terms by 30 days for its January services.
Auto Trader has again responded with a support package to help the industry through this challenging time. This follows the Governments’ announcement on 4 January to increase the level of COVID-19 restrictions across the UK, which has once again forced all car retailers to close their showrooms. This support will help to ease retailers’ cash flow and enable them to come back quickly as soon as the restrictions are eased.
It is understood that retailers in England, Wales and Scotland will be allowed to operate both home delivery and Click & Collect services. This, coupled with the high levels consumer activity seen through December and the early part of this month, will help to sustain some sales during this lockdown. Since Christmas, we have seen strong audience growth as well as consumer engagement, which has in turn boosted the numbers of leads sent to retailers. In fact, if we compare the Christmas period to the 28th – 3rd Jan, audience levels were up by 30%, advert views by 33% and leads by a huge 65%. The growth in leads is indicative of the shift in consumer buying behaviour, with buyers unable to visit forecourts, they are inevitably connecting more with retailers online.
Throughout this crisis, Auto Trader has supported the industry in every way they can. From product developments to enable digital retailing, to regular sharing of data and insight to support customer’s business decisions, through to the financial support provided with discounted packages, free periods and deferred payment terms. Advertising packages have been free for 3 out of the last 9 months and charged at a 25% discount in June, all at a considerable cost to the business.
Nathan Coe, Chief Executive Officer of Auto Trader, said: “We had all hoped that by now, with news of vaccines, that there would be a clear end in sight and that we could put this incredibly challenging period we’ve all experienced behind us. But once again, we face new challenges and further lockdown restrictions - certainly not the start to 2021 we were all hoping for.
“We remain committed to doing the right thing to support our customers and the wider automotive industry, which is why we have taken the decision once again to financially support our customers. By offering them a helping hand, through what we all hope will be the final hurdle in this pandemic, it will set them up to hit the ground running when their businesses are able to fully re-open.”
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