Press release

Nathan Coe, CEO of Auto Trader, commenting on the government’s latest Covid measures announcement:

“Since the emergence of Covid, we have been monitoring the market and consumer buying behaviour, sharing key insights along the way to support and guide our customers. We’ve seen record audience levels over the summer, traffic was up 30% in August on the same period in 2019, signalling strong purchase intent. If we look at audience levels for the past seven days, visits are on average up 25%, and very encouragingly they were also up by 23% on Monday (the day of the scientific announcement). This suggests that consumers won’t react to new restrictions in the same way as they did earlier in the year and that demand will remain robust.

“As regional restrictions have been introduced, we’ve monitored the impact on audience levels in those areas too, and reassuringly we have seen little impact. If retailers are demonstrating their Covid safety measures to consumers, as well as additional services like home delivery and other online functionality, they will be in good shape to weather this next phase.

“Our marketplace continues to show positive signs that the demand we have seen is sustainable and, our metrics don’t indicate that consumers will be put off car buying. In fact, our recent consumer research shows that people now want to buy cars for different reasons, as 11% want to actively avoid public transport by buying a car instead, and 20% of consumers said they wanted to just buy an additional car because of the current situation. These are new consumers buying cars, in addition to those who would have bought this year anyway, which all bodes well for sales volumes. Our research also looked at people’s propensity to afford a car, and 45% said they felt more confident in being able to buy a car now than they did a year ago, with 43% saying that they felt just as confident now as they did in August 2019. As public safety restrictions continue to reduce people’s leisure spending, some consumers appear to have more money for buying things like cars.

“Another key indicator of market health is price, and the data we collate for our Retail Price Index has shown prices are not only holding but they have been steadily increasing all summer and the trends show no signs of abating. Supply is still tight, but as long as demand remains and retailers stay strong with their pricing strategies and price to the live retail market, we don’t anticipate any negative impact on pricing this year.

“For now, the indicators from our marketplace suggest that there are reasons to remain positive. The focus for retailers should be to capitalise on the opportunities by ensuring that they offer consumers a great digital car buying experience, as well as a great forecourt experience. There’s certainly been a shift in consumer buying behaviour as they look to perform more of their car buying journey online, which is a trend we only see increasing. We’d urge any of our customers who aren’t currently displaying their Covid safety measures on Auto Trader to do so now. We’ll continue to monitor all relevant metrics and share the data with our customers in the coming days and weeks.”

Great to see DealerDesk utilising our API to enable retailers to instantly publish and update their Auto Trader adverts without the traditional wait for old-fashioned stock feeds! https://t.co/RyCrCG1fl0
August saw record levels of demand from consumers seeking out their next vehicle. But with supply issues continuing, what can you do to ensure your forecourt remains stocked to meet demand? Find out in our latest blog by @MarcThornboroug👇https://t.co/tUerFkP4Qf
Register for our next webinar where we’ll be exploring the latest in automotive logistics with special guest Thomas Mallet of Ecomotive Logistics. We’ll also be sharing our final step in addressing admin fees along with an update on the market 👉 https://t.co/GWNbgNrxVg https://t.co/SNIlt3nfcE
155,000 vehicles are underpriced on Auto Trader, meaning that there is a staggering amount of profit being missed out on by retailers. Find out more and what you can do to ensure you’re not leaving any profit on the table in this week’s tip of the week with @AndrewKorpela https://t.co/vj8Ux1Z2Jn
The popularity of electric vehicles continues to grow with the @Hyundai_UK IONIQ 5 being the most viewed new car on our platform over the last month. Will we see an electric vehicle top of the list next month and what needs to be done to sustain interest? Let us know👇 https://t.co/gNbRriDIiV
The @KiaUK Soul EV came out top among consumers looking for an EV that offers great value, taking the Best Value Electric Car at the Auto Trader New Car Awards 2021. https://t.co/LcVmx4kwKO
Demand for vans continues to increase with last month seeing the number of leads per new van on our marketplace grow a staggering 44% compared to August 2020, a new record. Overall van leads are also up by 30% vs 2020. https://t.co/6h2zt1D54r
On 22nd September we’ll complete our admin fees journey by adding the admin fee into the total advertised price and reflecting this in our valuations and price indicators. Find out more in our latest blog👇 https://t.co/ZVRpYhssAA
We're delighted to be supporting this year's @BenSupport4Auto Ben Ball taking place on the 8th Dec at the Roundhouse. There are now just a handful of tables left so be sure to book yours now to avoid missing out 👉https://t.co/6jC6ZaoEND https://t.co/zQCWD0JCRg
Our latest Monthly Market Intelligence report is now live. Check it out now to discover our latest new and used car market insights along a focus on EV pricing👉https://t.co/g8bPs1X6CE https://t.co/gB6Zh0p8rF

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