Press release

Q4 / 2020 used car transactions | February 2021

Auto Trader’s Chief Executive Officer, Nathan Coe, responds to the latest used car transactions results

Nathan Coe, Auto Trader Chief Executive Officer:

The figures reveal the extent of the impact the lockdowns and restrictions imposed across the UK last year had on the used car market. However, they also highlight the resilience of the market, with very strong levels of consumer demand when forecourts were able to open. Whilst the decline was keenly felt last year, it’s reassuring to hear that many of our retailer partners were operating at 60 – 70% of normal trading volumes during January. This is more than we anticipated and testament to the speed at which retailers have adapted to digital retailing, as well as their sheer determination and hard work. After 10 months, it’s clear that many won’t return to their traditional retailing model; even after restrictions are lifted. The most successful retailers will be those that continue to embrace digital and offer a blended online and offline experience.

Our research points to the positive shift towards car ownership strengthening, with 49% of consumers now stating that owning a car is more important to them now than it was before the pandemic. We’re also seeing consumers' confidence in being able to afford their next car surpassing pre-COVID levels. The better than expected performance we’ve seen in January, along with these strong consumer metrics gives us confidence the market will be in a good position once forecourts reopen, and we expect a more positive outlook for 2021 overall.”

Registration for the Auto Trader Retailer Awards 2021 is now live. Join us on the 22nd July at 1pm when we will reveal this year's winners and share with you exactly what you need to do to be an award winning retailer.https://t.co/1ERMd80FJD
With many car buyers now on the hunt for their next new car, we reveal exactly who the new car buyer is.https://t.co/AGGgMATA4S
Next up our Head of SEO, @AdamWhittles, shares some of the latest optimisations we've made to your Retailer Store to help enhance your SEO. https://t.co/Tss2FOhmxo
A quick summary from @MarcThornboroug on the current market and the need to ensure you are re-pricing and pricing to market. https://t.co/Ax8KmrH3cg
A quick summary from @MarcThornboroug on the current market and the need to ensure you are re-pricing and pricing to market. https://t.co/Ax8KmrH3cg
Used car prices continue to rise and there is potential to increase the profitability of your forecourt if you keep up to date with price changes and price to market. https://t.co/14JHVVgF6q
Our latest audience update shows that user volumes on our platform are up 4.7% vs 2020 and 31% vs 2019 https://t.co/wgOZNdudlT
Our latest audience update shows that user volumes on our platform are up 4.7% vs 2020 and 31% vs 2019 https://t.co/wgOZNdudlT
The @MercedesBenzUK GLA continues to be the fastest selling car in the UK, taking an average of just 23 days to turn on retailers forecourts right now. https://t.co/hcDxlDWwSQ
The @MGmotor ZS was awarded the Best Value New Car at this year's Auto Trader New Car Awards. Owners of the ZS highlighted the combination of great quality, reliability and performance, mixed in with a fair price and low running costs. https://t.co/2etPaVt2UB

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