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.”

With panic buying of petrol and diesel gripping the nation, we've seen a spike in interest in electric vehicles with advert views and leads for new electric vehicles on our platform hitting record levels over the weekend. #fuelcrisis #fuelshortages #ElectricVehicles
This week we rolled out the final stage of our admin fees plan, including any admin fees in the total price of the vehicle. So it's only fitting that this week's tip of the week is all about admin fees and what you can do to ensure your pricing is as transparent as possible.
The 2015 @KiaUK Sorento has been revealed as the UK’s current fastest selling used car taking an average of just 17 days to sell right now.
The number of buyers considering buying their car online continues to grow, with our latest buyer survey indicating that 63% are now willing to buy a used car online when presented with a scenario.
We're working with the @RMI_NFDA and ICDP to understand how dealers have adopted more digital retailing practices and we need to hear from you! Take the survey now to get a free personalised benchmark report👉
As of today, admin fees will be included in the total advertised price of the vehicle on Auto Trader.
The popularity of electric vehicles on our marketplace continues to grow with almost 1 in 5 consumers looking for a new car on our marketplace now considering an electric car.
In our next Courageous Conversations webinars, we'll be will be discussing whether the automotive industry is a safe space for the LGBT+ community along @forduk, @UKVolkswagen and @stonewalluk. Register now to join the conversation 👉
The latest @SMMT figures show a drop in new car transactions of 22% in August. But despite this, @IanJPlummer believes there are still reasons to be confident and that there is now a huge opportunity for the used car market.
In our next webinar, we’ll be looking at how this month’s plate change is impacting the market. Are we seeing an influx of buyer’s part-exchanging for a brand-new car and will it ease pressure on stock in the market? Register now find out 👉

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