HONDA e:NY1 BACK ON TOP AS THE ‘HOTTEST’ NEW CAR ON AUTO TRADER BOOSTED BY BIG AFFORDABILITY PUSH
Honda’s fully electric SUV propelled from 254th place to 7th most in demand brand new car in a month.
• Cause for optimism ahead of plate change as new car advert views on Auto Trader rise c. 20% year-on-year.
• More choice of new car as Auto Trader records 21% uptick in physical stock since January.
According to the latest data from Auto Trader, the Honda e:NY1 is July’s most in-demand brand-new electric vehicle (EV), and the 7th most in demand new car among all fuel-types, rising from the UK’s 254th in June. It means the battery powered SUV is this month’s fastest growing new car model overall, and for pure electric cars, generated more enquiries than any other model, accounting for more than one in every 10 EV leads sent to a retailer.
It marks the second time this year that Honda’s flagship EV has topped the charts, with its meteoric rise propelled on both occasions by an enticing combination of large discounts, deposit contributions and finance offers. It highlights the impact of affordability in driving consumer engagement for brand new EVs, and the steps manufacturers are taking to stimulate demand in response to this year’s ZEV Mandate targets.
Since July last year, average discounts have risen from 6.6% to 8.7%, with three quarters of all new cars now offering some level of discount. The average discount currently applied to EVs is 10.6%. However, as well improving affordability, brands are also responding to the challenge by improving consumer choice, with Auto Trader recording a significant uptick in the volume of new cars advertised on its platform in recent months, rising 21% between January and July.
Auto Trader’s data, which is based on circa 2 million monthly new car visitors, suggests that improved choice and affordability is proving a compelling combination for consumers. In fact, despite the disruption caused by the General Election, and major sporting events this month, including the Euros and Wimbledon, consumer interest for new cars remains stable, with visits to Auto Trader’s new car platform rising circa 6% year-on-year in July to date.
With the high-profile sponsorship of the Euros in June and July, BYD has employed a more high-profile tactic to raise brand awareness and drive consumer engagement with their cars. Over the course of the tournament, the brand saw a 33% increase in advert views for its new and used models versus the previous month. It’s helped to position the BYD Seal as the UK’s fourth most viewed electric car this month, and BYD as the seventh most viewed electric brand. However, with BYD still relatively unfamiliar with UK buyers, neither the Seal or the brand managed to make it on to July’s list of makes and models driving the largest share of enquiries.
Familiar ICE icons out in front
Outside of electric models, Volkswagen’s iconic Golf topped the charts for the second successive month as the most popular overall new car in July, generating a 4.3% share of all new car enquiries. It was closely followed by the Range Rover (3.6%) and Defender 110 (3.1%) into second and third place. At a brand level, the top three most in-demand marques this month are BMW (14.3%), Land Rover (12.7%) and Volkswagen (10.2%). They’re way ahead of the rest of the pack, with Audi in fourth generating a more conservative 6.6% share.
The new car market continues to face a challenging combination of new regulatory targets, increased competition, growing production, and softening retail sales. However, our data does offer some optimism as we approach the key plate change month of September. Manufacturers are working hard to stimulate demand, and we’re seeing consumers respond as a result.
Kennett continued: “It will be interesting to see what other tactics manufacturers deploy over the coming months to move the needle, as they try to balance volume with the increasing pressure of the looming ZEV Mandate requirements. More choice, better deals, and getting in front of more new car buyers will be key.”
Most in demand new car models on Auto Trader in July[1] ranked by enquiries/leads – all fuel types.
|
Rank |
Make |
Model |
Share of enquiries |
|
1 |
Volkswagen |
Golf |
4.3% |
|
2 |
Land Rover |
Range Rover |
3.6% |
|
3 |
Land Rover |
Defender 110 |
3.1% |
|
4 |
Land Rover |
Range Rover Sport |
2.5% |
|
5 |
Hyundai |
TUCSON |
2.5% |
|
6 |
Volkswagen |
Tiguan |
2.1% |
|
7 |
Honda |
e:Ny1* |
1.8% |
|
8 |
BMW |
1 series |
1.7% |
|
9 |
BMW |
3 Series |
1.7% |
|
10 |
CUPRA |
Formentor |
1.4% |
*Electric.
Most in demand new car brands on Auto Trader in July ranked by enquiries/leads – all fuel types.
|
Rank |
Make |
Share of enquiries |
|
1 |
BMW |
14.3% |
|
2 |
Land Rover |
12.7% |
|
3 |
Volkswagen |
10.2% |
|
4 |
Audi |
6.6% |
|
5 |
Hyundai |
5.2% |
|
6 |
MG |
3.6% |
|
7 |
Nissan |
3.4% |
|
8 |
Mercedes-Benz |
3.2% |
|
9 |
Kia |
3% |
|
10 |
Honda |
2.9% |
Most in demand new car electric models on Auto Trader in July[2] ranked by enquiries/leads.
|
Rank |
Make |
Model |
Share of enquiries |
|
1 |
Honda |
e:Ny1 |
11.2% |
|
2 |
Hyundai |
IONIQ 5 |
8.5% |
|
3 |
Nissan |
Leaf |
5.2% |
|
4 |
Tesla |
Model 3 |
4.8% |
|
5 |
MG |
MG4 |
4% |
|
6 |
Kia |
EV6 |
3% |
|
7 |
Kia |
EV9 |
2.6% |
|
8 |
Lotus |
Eletre |
2.2% |
|
9 |
Audi |
Q8 e-tron |
2.1% |
|
10 |
CUPRA |
Born |
2.1% |
Most in demand new car electric brands[3] on Auto Trader in July ranked by enquiries/leads.
|
Rank |
Make |
Share of enquiries |
|
1 |
Honda |
11.2% |
|
2 |
Hyundai |
10.1% |
|
3 |
MG |
8% |
|
4 |
BMW |
7.8% |
|
5 |
Nissan |
6.9% |
|
6 |
Tesla |
6.5% |
|
7 |
Kia |
6% |
|
8 |
Audi |
5.2% |
|
9 |
Peugeot |
4.9% |
|
10 |
Ford |
3.7% |
[1] 1st – 15th July 2024
[2] 1st – 15th July 2024
[3] Based on brands’ electric models only
About Auto Trader
Auto Trader Group plc is the UK’s largest automotive platform. It listed on the London Stock Exchange in March 2015 and is a member of the FTSE 100 Index.
Auto Trader’s purpose is Driving Change Together. Responsibly. Auto Trader is committed to creating a diverse and inclusive culture, it aims to build stronger partnerships with its customers and use its voice and influence to drive more environmentally friendly vehicle choices.
With the largest number of car buyers and the largest choice of trusted stock, Auto Trader’s marketplace sits at the heart of the UK car buying process. That marketplace is built on an industry-leading technology and data platform, which is increasingly used across the automotive industry. Auto Trader is continuing to bring more of the car buying journey online, creating an improved buying experience, whilst enabling all its retailer partners to sell vehicles online.
Auto Trader publishes a monthly used car Retail Price Index which is based on pricing analysis of circa 800,000 unique vehicles. The same data that powers the Index is used by the Office for National Statistics to make the UK’s official measures of inflation more robust, as well as the Bank of England to feed the broader UK economic indicators.
For more information, please visit: https://plc.autotrader.co.uk/
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