MG IS OCTOBER’S ‘HOTTEST’ NEW ELECTRIC CAR BRAND, WITH THREE MODELS LEADING THE PACK
According to the latest data on Auto Trader, MG is currently generating more than one in five (21%) of all brand-new electric car enquires sent through its platform this month. It’s more than double the share of BMW (9%) in second place, and four times bigger than Nissan’s share in third (5.2%).
Such is the demand for the British badged but Chinese owned marque, the top three most in demand brand-new electric vehicles (EV) in October on Auto Trader are all MG: the MG4 (with a share of 9.2% of enquiries), MG5 (5.5%), and MG ZS (4.9%). Auto Trader’s data suggests the demand is being helped by a range of enticing offers, with the average discount applied to the MG4 around 20%, whilst it’s as much as 30% for both the MG5 and MG ZS.
MG isn’t the only Chinese brand turning heads this month, however. Both BYD and Omoda are recording notable growth in enquiries for their brand-new models, albeit from a small base. In fact, BYD is this month’s fastest growing new car marque overall (recording the largest month-on-month increase in lead share), fuelled by the launch of its brand-new plug-in hybrid, the Seal U, which is October’s fastest rising model (up 1.1% MoM).
Omoda, which has only been in the UK for a few months, is currently the sixth fastest rising model , helped by the popularity of its new pure electric E5. The performance of these new players is all the more impressive given the current discounts being applied to BYD and Omoda models are among the lowest in the new car market, at just 6.4% and 5.2% respectively.
Improved affordability and choice ‘moving the dial’
Looking at the health of the new car market more broadly, demand remains relatively robust. As is expected following a key plate change month, visits to Auto Trader’s new car platform have softened slightly (-2.5%) on a month-on-month basis. However, they’ve risen 16.5% against the same period last year.
With pressure mounting to progress electrification, the industry has been working hard to stimulate consumer demand, with a significant increase in marketing spend over recent months as well as very attractive discounts and finance deals. In September, the average discount applied to brand-new electric vehicles reached a record circa. 12.1%, up from 8.9% in August, which Auto Trader’s data (based on c. 2 million monthly new car visits and over 6.5 million daily new car searches) suggest is helping to move the dial.
September saw the strongest interest for brand new EVs on Auto Trader in over two years, representing more than one in five (21%) of all enquires sent to retailers through its new car platform, up from 15% six months earlier. So far, this appetite for new EVs has held steady into October, with the electric share of brand-new car enquiries currently accounting for 20.6%.
Whilst the proportion of brand-new electric vehicles offering a discount has fallen from 74% in September to 69% this month, the average discount being applied has risen slightly to 12.4%. In contrast, average discounts applied to brand-new cars overall has softened, albeit marginally, from 9.1% to circa 8.9%.
As brands respond to growing challenges in the new car market, the volume of new cars advertised on Auto Trader has increased significantly this year, with levels in October already up 15% compared to six months ago. It’s this compelling combination of more choice, improved availability, and well merchandised product which is helping to fuel growth on Auto Trader.
Over the last few months we’ve seen brands and retailers work hard to stimulate consumer demand, and we’re seeing the result on our platform. Despite the natural softening expected following a plate change month, the underlying interest in new cars remains robust as the combination of choice and affordability plays through. To support, we’ll continue to invest in our new-car marketing campaign. Since its launch we’ve seen a 15% year-on-year uplift in new car enquiries.
Most in demand new car electric models on Auto Trader in October ranked by enquiries/leads.
|
Rank |
Make |
Model |
Share of enquiries |
|
1 |
MG |
MG4 |
9.2% |
|
2 |
MG |
MG5 |
5.5% |
|
3 |
MG |
MG ZS |
4.9% |
|
4 |
Nissan |
Leaf |
4.6% |
|
5 |
Jaguar |
I-PACE |
3.6% |
|
6 |
Ford |
Explorer |
3.3% |
|
7 |
Hyundai |
IONIQ 5 |
2.7% |
|
8 |
Tesla |
Model 3 |
2.7% |
|
9 |
Honda |
e:Ny1 |
2.7% |
|
10 |
Renault |
Scenic E-Tech |
2.3% |
Most in demand new car electric brands on Auto Trader in October ranked by enquiries/leads.
|
Rank |
Make |
Share of enquiries |
|
1 |
MG |
20.9% |
|
2 |
BMW |
8.9% |
|
3 |
Nissan |
5.2% |
|
4 |
Ford |
5.0% |
|
5 |
Hyundai |
4.1% |
|
6 |
Tesla |
4.1% |
|
7 |
MINI |
4.0% |
|
8 |
Renault |
4.0% |
|
9 |
Citroen |
3.9% |
|
10 |
Kia |
3.9% |
Most in demand new car models on Auto Trader in October ranked by enquiries/leads – all fuel types.
|
Rank |
Make |
Model |
Share of enquiries |
|
1 |
Volkswagen |
Golf |
3.0% |
|
2 |
Land Rover |
Defender 110 |
2.8% |
|
3 |
Land Rover |
Range Rover |
2.8% |
|
4 |
Land Rover |
Range Rover Sport |
2.2% |
|
5 |
MG |
MG4 |
1.9% |
|
6 |
MG |
MG ZS |
1.8% |
|
7 |
BMW |
1 Series |
1.7% |
|
8 |
Cupra |
Formentor |
1.7% |
|
9 |
BMW |
X5 |
1.6% |
|
10 |
Kia |
Sportage |
1.5% |
Most in demand new car brands on Auto Trader in October ranked by enquiries/leads – all fuel types.
|
Rank |
Make |
Share of enquiries |
|
1 |
BMW |
13.3% |
|
2 |
Land Rover |
11.0% |
|
3 |
Volkswagen |
7.2% |
|
4 |
MG |
6.5% |
|
5 |
Audi |
5.7% |
|
6 |
Kia |
3.8% |
|
7 |
Hyundai |
3.6% |
|
8 |
Renault |
3.4% |
|
9 |
Skoda |
3.4% |
|
10 |
MINI |
3.1% |
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