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.”

In next week’s webinar we’ll be joined by @mikejonesase to talk through what the latest budget means for retailers. We’ll also discuss what independent and franchise retailers can learn from each other as they prepare to reopen physical forecourts > https://t.co/rKjsWxrWjN https://t.co/tTxqOKW63A
Our teams were delighted to be a part of #BreakoutForBen, raising £12,225 towards the staggering total achieved by all who took part @BenSupport4Auto https://t.co/JqHkpGF9cE
To celebrate #InternationalWomensDay on Monday 8th March, we'll be hosting a webinar centred around this year’s theme #ChooseToChallenge. Find out more and register at https://t.co/z83jRsYDtp https://t.co/Yfvh2KkK1A
Our Data & Insight Director @therickw shares our latest audience data along with what we are seeing in terms of overall market and retailer performance. https://t.co/r5vdGHI1UM
In our next webinar we welcome back @mikejonesase ,chairman of @ASE_Global, to give the latest update on government financial support and answer your questions which you can pre-submit by following the instructions below. https://t.co/al6EzwaeJ3
Whilst the latest data from the @SMMT shows new car registrations were down -35.5% last month, we’ve seen a significant increase in new car engagement on our marketplace. https://t.co/NWLpyJ1j2W
Our Retail Price Index, which is based on daily pricing analysis of circa 900,000 vehicles, revealed the average price of a used car in February was £14,096: a YoY increase of 6.6%. https://t.co/HrAEkAqpOV
From May 1st admin fees will be displayed on your full-page adverts. Fees will not appear in search pricing until later this year. https://t.co/ernaPgaJsL
Buyer's confidence in being able to afford their next car remains extremely high. https://t.co/ktR6FungW8
First up our Data & Insight Director @therickw shares our latest audience update. Last week audience grew 8.8% compared to the same time last year, with our marketplace seeing an average of 1.4 million users each day last week. https://t.co/fNyeiSr1AG

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