Press release

Car buyers prepared to pay 32% more than they were two years ago

Latest data from Auto Trader, the UK’s leading automotive digital marketplace, suggests consumer confidence is on the rise.

A representative sample of the most popular cars on the site in April revealed buyers may be willing to pay nearly a third more for the right model than they were two years ago.

Auto Trader analysts looked at cars that were three years old with between 20,000 and 30,000 miles on the clock. They then looked at individual ad views in April, rather than just visitors browsing the Auto Trader site, to hone in more precisely on those with an intention to buy. On average they found that potential buyers were looking at cars with a 32% higher asking price than they were back in April 20131

Year Average asking Price
April 2015 £21,844
April 2014 £19,045
April 2013 £16,586

“Our analysis implies that buyers are willing to pay significantly more for good quality cars than they were two years ago,” explained Karolina Edwards-Smajda, Auto Trader’s Trade Solutions Director. “That might seem surprising, considering noise in the marketplace around volumes of pre-registered vehicles. However, prices haven’t softened, consumer confidence continues to improve and demand is outstripping supply.”

“Using ad views rather than site searches was important for the analysis,” she added. “More than half of buyers now arrive on a forecourt without any prior contact with a dealer so the ad view is now one of the best means of focusing on potential leads or those with an intention to buy. In the new era of the digital buyer, it is like a virtual walk around the car, something buyers used to do on the forecourt itself.”

Note to editors:

  1. To run the analysis, Auto Trader looked at data from cars of three years of age with between 20,000 and 30,000 miles on the clock. They then focussed on the top 25% of these models by percentage, reflecting total ad views in April.

For all trade media enquiries, please contact:

Nigel Wonnacott, PR Director at JJ Marketing, on 07802 483 971 or nigel.wonnacott@jjmarketing.co.uk

Discover what we are doing to keep #consumers engaged with our platformin order to help #cardealers build their #salespipeline in our latest blog post from our COO Catherine Faiers - https://t.co/t4Sv4m9YjB #cornonavirus #consumerbehaviour https://t.co/7LTGzvyJSN
Join us for an Auto Trader Insights webinar where we will be discussing the current trends we are seeing across the #automotive market as we continue to navigate our way through the #coronavirus outbreak. https://t.co/AxxdZtR7i0 https://t.co/uzTeeCtzHm
On yesterday's customer webinar we highlighted that whilst consumers might not be able to visit dealerships, a variety of metrics indicate there's still consumer demand. If you missed the session, which included @ASE_Global's @mikejonesase, catch up here https://t.co/7qLr0Tz3hT https://t.co/LBGALeheWT
We brought forward the launch of our new #marketintelligence tool, AT Market Insight, to ensure #cardealers can keep up with the changing market conditions in these turbulent times. Discover how you can use this new tool now in our latest blog post. https://t.co/50K8rBG2Xi https://t.co/Cc3rZFAk8f
30 minutes left until today's webinar! Register now to hear the latest advice on what options #cardealers have during #coronavirus. Even if you cant make it we will send you the recording https://t.co/vr0dwQTD3J https://t.co/VuIea3MFoK
Have you signed up to our next weekly webinar? We'll be talking through what options #cardealers have amidst the #coronavirus. Tune in tomorrow at 10am and if you can't make it, sign up and we will send you the recording. https://t.co/vr0dwQTD3J https://t.co/omXRjB386q
Last week our #Data & #Insight Director, @therickw joined our webinar to talk retailers through key market observations he had made. Well, we’ve invited him back to share another update to see if the story has changed. https://t.co/KcGC6O2nom https://t.co/AcvcSqSpo1
Great to see people coming up with innovative ways of keeping busy during #lockdown... https://t.co/sv7G0osaLd
Start the week off right with @MarcThornboroug's latest tips on practical things retailers can be doing now to help build that #salespipeline whilst #workingremotely https://t.co/NKxMkK5qbv https://t.co/xpYaTQbWfo
In next week's webinar, we'll be asking our expert panel 'What options do retailers have amidst COVID-19?' Discussions will include furlough for employees & funding for self-employed retailers. Submit your questions when you register: https://t.co/fifT2NvFOB https://t.co/u6YMY1HQB4

Auto Trader Group plc
Registered in England (Company number: 09439967)

Auto Trader Limited
Registered in England and Wales (Company number: 03909628)

Registered address:

1 Tony Wilson Place
Manchester
M15 4FN
VAT number: GB 614 8918 20

Keep in touch

We use social media to speak to the UK’s largest car buying audience