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.”

Great to see DealerDesk utilising our API to enable retailers to instantly publish and update their Auto Trader adverts without the traditional wait for old-fashioned stock feeds! https://t.co/RyCrCG1fl0
August saw record levels of demand from consumers seeking out their next vehicle. But with supply issues continuing, what can you do to ensure your forecourt remains stocked to meet demand? Find out in our latest blog by @MarcThornboroug👇https://t.co/tUerFkP4Qf
Register for our next webinar where we’ll be exploring the latest in automotive logistics with special guest Thomas Mallet of Ecomotive Logistics. We’ll also be sharing our final step in addressing admin fees along with an update on the market 👉 https://t.co/GWNbgNrxVg https://t.co/SNIlt3nfcE
155,000 vehicles are underpriced on Auto Trader, meaning that there is a staggering amount of profit being missed out on by retailers. Find out more and what you can do to ensure you’re not leaving any profit on the table in this week’s tip of the week with @AndrewKorpela https://t.co/vj8Ux1Z2Jn
The popularity of electric vehicles continues to grow with the @Hyundai_UK IONIQ 5 being the most viewed new car on our platform over the last month. Will we see an electric vehicle top of the list next month and what needs to be done to sustain interest? Let us know👇 https://t.co/gNbRriDIiV
The @KiaUK Soul EV came out top among consumers looking for an EV that offers great value, taking the Best Value Electric Car at the Auto Trader New Car Awards 2021. https://t.co/LcVmx4kwKO
Demand for vans continues to increase with last month seeing the number of leads per new van on our marketplace grow a staggering 44% compared to August 2020, a new record. Overall van leads are also up by 30% vs 2020. https://t.co/6h2zt1D54r
On 22nd September we’ll complete our admin fees journey by adding the admin fee into the total advertised price and reflecting this in our valuations and price indicators. Find out more in our latest blog👇 https://t.co/ZVRpYhssAA
We're delighted to be supporting this year's @BenSupport4Auto Ben Ball taking place on the 8th Dec at the Roundhouse. There are now just a handful of tables left so be sure to book yours now to avoid missing out 👉https://t.co/6jC6ZaoEND https://t.co/zQCWD0JCRg
Our latest Monthly Market Intelligence report is now live. Check it out now to discover our latest new and used car market insights along a focus on EV pricing👉https://t.co/g8bPs1X6CE https://t.co/gB6Zh0p8rF

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