Press release

New car registrations | October 2020

Auto Trader's Commercial Director, Ian Plummer, gives his view on the latest new car performance 

Ian Plummer, Commercial Director of Auto Trader, said:

“Supply issues continue to have an impact on new car registrations but the demand for cars – new and used – remains very strong. Advert views per car on the Auto Trader marketplace were up 13% versus last October and 35% versus October 2019. What’s more, cars are selling 11% faster in October 2021 than in the same month in 2019.

“While supply levels are down, average leads per new car on Auto Trader are up, the sixth consecutive month of growth. In fact new cars on Auto Trader generated more than three times the leads they did last October; fuelling the manufacturer’s order books.

“The new car supply squeeze continues to have an inflationary impact on the used car market. In October the average price of a used car increased over 25% YoY. That’s 19 consecutive months of price growth. In fact astonishingly nearly 1 in 4 ‘young’ used cars on Auto Trader are now priced higher than their brand new equivalents with nearly half within 5% of that new car price The old adage about new cars plummeting in value as soon as you drive them off the forecourt seems to be consigned to history – or at least suspended.

“Demand for new electric vehicles continues to grow with almost 25% of new car considerers viewing an electric vehicle on Auto Trader in October, up from just 7.7% in October 2020.  However, the extent to which interest can be converted into purchase remains a concern given the huge price disparity. The average new EV is 38% more expensive than its petrol equivalent.

“The fuel crisis has been the most significant catalyst for increasing consumer interest in EVs. We always say that cost and convenience are the key drivers of car purchasing. EVs are at a disadvantage on both fronts, but the empty petrol pumps and massive queues have certainly challenged that.”

Whilst the current market is far from predictable, it’s a safe bet that those buyers looking to make a purchase early next year are looking at your adverts on our marketplace right now. So what do you need to do to prepare for January?👇https://t.co/qwwUW9oYTs
EVs have proven again to be a bright spot in the latest @SMMT figures says @IanJPlummer. Fuel anxiety, greater environmental awareness, and the ‘cool factor’ are all helping to drive sales. https://t.co/Liuj74ZpOF
The record growth we’ve seen in used car prices in recent months shows no signs of slowing with November marking the 20th month of consecutive price growth. So where are prices currently at and what we can expect in the near future. Find out now 👉 https://t.co/LknZuxwuiT https://t.co/9JDMTOzn2s
Did you know that 42% of buyers in January this year did their research in December 2020? With this trend set to continue this year, @AndrewKorpela shares some advice on how to entice January's buyers to your adverts right now, setting you up for success next year. https://t.co/uuCOTMTCcG
It's no secret that we've seen the number of buyers considering an electric vehicle grow through 2021. But are buyers really interested in electric vehicles and how does this translate into buying intent? Find out in our The Road to 2030 Report👉https://t.co/ag3HZOMpFT https://t.co/2EZcsZKEHO
We recently marked our 1 year anniversary since we launched RPM, our online learning platform for retailers. In the last 12 months, we’ve found that retailers who’ve attended these masterclasses go on to sell their vehicles 10% quicker! Find out more - https://t.co/gXfP03yPAA https://t.co/3X02xWECId
Auto Trader Connect is now live to all retailers who requested access and who's partners have integrated with us. Auto Trader Connect puts the power of real-time data in your hands, enabling you to more efficiently manage your forecourt. Find out more - https://t.co/ygKfaAbven https://t.co/B8XGCfI4xD
We're still seeing retailers underpricing stock. With demand still high, there is a huge opportunity to make additional profit by pricing to market. https://t.co/AFIvnD8cOt
Of all the sales in January 2021, 42% were the result of searches made in December 2020. Make sure you're advertising all of your stock now so that you can kick of 2022 with a bang. https://t.co/jOjKQRTACD
We’ve seen 4 years of price growth in just 5 months and this shows no signs of slowing, with mid November seeing the average price of a used car rising to a staggering £19,852. https://t.co/8j0qtqT9yd

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