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

Missed this week's webinar with special guest @vertumotors? Well fear not - the whole webinar is now available on demand at https://t.co/A8vB2i49FU https://t.co/fpMbEkaRgB
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For those looking for a 7 seater you can do no better than the @VolvoCarUK #XC90. That's according to the 181,000 car owners who voted it the best 7 seater in this year's Auto Trader New Car Awards! https://t.co/M7t1X3Ic9S https://t.co/csJOtcU63N
Exactly one week ago @MrRoryReid & @ErinBakerMotors announced the winners of the Auto Trader New Car Awards – revealing the best #newcars in the UK according to over 181,000 car owners! You can check out the #award winners at https://t.co/FMgf5HByCM #ThrowbackThursday https://t.co/CLdSORmOV0
Exactly one week ago when @MrRoryReid & @ErinBakerMotors announced the winners of the Auto Trader New Car Awards – revealing the best #newcars in the UK according to over 181,000 car owners! You can check out the #award winners at https://t.co/FMgf5HByCM #ThrowbackThursday https://t.co/SAFHIczDhl
#Dacia have done it once again! The @daciauk Duster once again won the Best Value New Car at the Auto Trader New Car Awards 2020 - an award they also took home in 2019! https://t.co/vf00Z0g60W https://t.co/rn5qZX59Gh
We've seen a record number of #newcar and van #leads with new car retailers enjoying a massive 91% monthly increase in leads! Discover the latest new car data and how to drive even more leads as we see demand continue to spike now > https://t.co/8l2Mkx0ldn
Big thanks to everyone who joined today's webinar and of course to our guest speaker @vertumotors!
Reminder that next week we'll be launching #ATHighlyRated! Retailers who met the criteria will be receiving a pack next week to promote their achievements to consumers. https://t.co/UJgS71ytoP
Over to @stuart_trader who reveals the result of our earlier poll - a majority discounting prices much less or maintaining pre-#covid19 approach https://t.co/t8PfkUzrtU

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

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