Press release

Q3 used car transactions | November 2020

Auto Trader director, Ian Plummer, gives his thoughts on the Q3 2020 used car transactions data from the SMMT. 

As retailers in England enter another national lockdown, and businesses across the UK face increasingly tighter restrictions, growth in the used car market not only offers some much welcomed news, it also underlines the far better position the industry is in today compared to March.

 “Despite an initial dip on the 25% year-on-year (YoY) increase in visits to Auto Trader in October, they returned to 19.1% YoY over the weekend, whilst leads being sent to retailers grew 34.5%. Car buyers may not be able to visit a forecourt in person, but demand remains exceptionally strong. In fact, in a survey of over 1,000 consumers last week, 57% said the new lockdown had made no impact on their decision to buy a car, and 7% said it made them want to purchase one even sooner.

 “Retailers are also better prepared this time round, with the necessary infrastructure to continue selling in a meaningful way. Crucially, with click & collect and home delivery services permitted, many retailers are well placed to capitalise on the high demand. On Auto Trader we’ve made it easier for consumers to buy online from the safety of their own home, and search the circa 200,000 vehicles currently listed on our marketplace which are available to buy through these channels. And with 50% of car buyers saying they’re willing to buy via click & collect or home delivery, retailers should be able to continue Q3’s momentum into the new year.

 “It’s promising to see sales of second-hand low emission vehicles increase over the quarter. However, whilst they do represent a growing opportunity for retailers, they still represent a small percentage of the total market, typically those who can afford their steeper price tag. It highlights that the government still has a long way to go in driving consumer adoption on a mass scale if it intends to bring forward the ban on selling internal combustion vehicles to 2030.”

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
A quick summary of what we have covered in today's webinar from @ClarkRjoclark. https://t.co/QFgNQYhCR8
Prices then are still strong, but we are still seeing under-priced stock on our marketplace which means there is profit being left on the table. It's key then to monitor the live market prices and re-price to the live market value to avoid missing out on profit. https://t.co/3jGvyFVPIn

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