Press release

New car registrations | November 2021

“The slight uptick in retail sales last month is not a sign that the new car supply issues are beginning to ease; the majority of November’s registrations will have been pre-ordered months ago. In reality, the global shortage of semi-conductors is still being keenly felt at the forecourts, holding back sales to a level well below the very strong underlying demand we continue to see. This is not only reflected in the 123% year-on-year increase in new car enquiries sent to retailers on Auto Trader last month, but also the fact that many manufacturers and retailers are reporting record pre-orders. Remarkably, some have already exceeded their Q1 allocation of production. 

“With the market unable to meet demand, many would be new car buyers are turning to ‘nearly new’ alternatives, those aged below 12 months old. However, as a result of the 1.5 million ‘lost’ new car sales since the start of the pandemic, they remain in very short supply, and as such, prices are rocketing. So much so, more than a quarter of those currently available are more expensive than their brand-new equivalents. It highlights the very strong used car profit opportunities currently available for retailers.

“Longer term, there’s no sign that these unique market dynamics – very high consumer demand and low supply – will ease anytime soon. Supply in new cars will remain for at least the first half of 2022, and with the economy set to grow at quite a pace again next year, we can expect very strong consumer demand to continue.

“Electric vehicles (EV) have proven again to be a bright spot. Fuel anxiety, greater environmental awareness, and the ‘cool factor’ are all helping to drive sales, albeit on a relative scale. However, it’s important we put this growth into context - the progress is positive, but we’re behind the required pace to reach the Government’s 2030 targets.

“With new EVs costing over a third more to buy than a petrol or diesel, the ‘green premium’ means current growth is being fuelled by only the most affluent. There are evident limits to the number of car buyers who can afford today’s EVs. Unless the Government significantly changes its approach to financial incentives - three times smaller than those available in Europe – to make EVs affordable for the average household, its green ambitions will run out of charge long before 2030.”

Over 75% of all time spent on UK automotive sites is spent on Auto Trader. 20% more leads were delivered to retailers in 2021 than in 2020, a sign of strong buyer intent and the ever-increasing importance of online in the buying process. https://t.co/AySv9w7RwG
Over 75% of all time spent on UK automotive sites is spent on Auto Trader. 20% more leads were delivered to retailers in 2021 than in 2020, a sign of strong buyer intent and the ever-increasing importance of online in the buying process. https://t.co/YiU38W6Vc5
Our CEO Nathan Coe will be live on next week's webinar to answer your questions. You can submit your questions to him in the comments and when you register to join the webinar live at https://t.co/rdtNiD8APu https://t.co/d99VfhPofQ
Last week saw the 89th week of consecutive used car price growth, with prices rising 28.6% year-on-year. With used car prices continuing to rise it’s crucial to keep repricing your stock inline with the market to ensure you aren’t leaving profit on the table. https://t.co/MRHJVoNvzs
2021 was a record year for new electric vehicles on our marketplace which saw a record number of advert views in 2021, with 1 in 5 new car advert views now for an electric vehicle. What EVs do you think we'll see drawing the most attention in 2022? https://t.co/niblnnJaPl
Looking to evolve your business by breaking free of outdated data feeds and enabling your customers to have a real-time view of your digital forecourt? Then check out our ‘Essentials to connected retailing’ masterclass now 👉 https://t.co/VggO5GDvFa https://t.co/hRUW9aXDTf
We’re still faced with an element of uncertainty when it comes to the pandemic which means you need to be prepared for any eventuality. So in this week’s tip of the week, @AndrewKorpela shares some top tips on how to make sure you're prepared for whatever is thrown at you next. https://t.co/9cKawLT6Q9
In his latest update, our CEO Nathan Coe shares our latest market insights, including an analysis of consumer demand and pricing, and reveals our plans for 2022. https://t.co/oyxwpJf2U1
With record numbers of new electric vehicle sales and, as we reveal in our latest blog, an electric vehicle being the fastest selling of any used vehicle in 2021, last year really was a victory for voltage 👇 https://t.co/j4Al3nByBL
In our latest Monthly Market Intelligence Report, we analyse the 3 key trends that came to define the automotive industry in 2021, record demand, the growth in used car prices and the acceleration of EV adoption 👉https://t.co/tVW6vpQjxm Will these trends continue through 2022? https://t.co/rITl15odBm

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