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.”

We're excited to announce that, as of 1st July, we'll be powering the used car pages on @whatcar and its sister site, @autocar. https://t.co/H4GJLafkh7
We're excited to announce that, as of 1st July, we'll be powering the used car pages on @whatcar and its sister site, @autocar. https://t.co/H4GJLafkh7
What are the three big barriers to electric vehicle adoption and how can we as an industry help to overcome them? Find out in the latest edition of The Road to 2030 report 👉https://t.co/ho4cNqeUsQ https://t.co/qlA2IX6EiF
Are you getting the basics right? Find out in this week's tip of the week where @AndrewKorpela highlights the need to maintain your digital best practises. https://t.co/Rkm0nKu19B
One of the most recent entrants to the EV market, the @CUPRA Born, is currently seeing the most advert views of any new EV on our marketplace. With a new EV model set to enter the market every 10 days this year, what model do you think we'll see make the list? https://t.co/nOcF7YguLg
We've been working with manufacturers to get you access to the specification profile for each car and we're excited to announce that this is now available to retailers, helping you to make creating high-quality adverts easier than ever. Find out more 👇 https://t.co/lv2kLf4E77
After a slight technical glitch @therickw is live and sharing our latest market data. Demand has seen a decline but used car prices remain robust. https://t.co/lSNLB6rLrg
Over now to @MarcThornboroug who asks "is it time to reset your goals"? Last year's performance was incredibly strong across the market, being very much a seller's market. But in recent weeks we have seen it start to shift towards a buyers market. https://t.co/BVEiBdl9Dy
We're kicking off today's webinar with @marc_palmer. Right now the economy is the top issue for many people with the cost of living crisis in full swing and the spectre of a recession looming. But what does this mean for car sales? Read the thread to find out 👇 https://t.co/ZMErCURxJU

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