Press release

SMMT used car transactions | Q2 2019

Auto Trader's Commercial Director, Ian Plummer, provides his view on the latest used car transactions from the Society of Motor Manufacturers and Traders (SMMT)

Ian Plummer, Commercial Director:

“Whether it’s the Conservative leadership race, the new prime minister, or the increased likelihood of a no-deal Brexit, consumers have faced significant turbulence over the last few months. It should come as no surprise therefore, that despite its resilience, the same consumer uncertainty that is so profoundly affecting new car sales should impact the used car market too.

“We can see further evidence of this reflected on the average second-hand retail prices. According to the latest findings from the Auto Trader Retail Price Index, which analyses over half a million industry data points, the rate of growth in used prices has stalled: for the first time in three years, the rate of price growth is in actual decline, slowing to just -0.7% in July. 

“However, despite a disappointing picture, the huge growth in alternatively fuelled vehicles offers a real bright spot. Whilst off a small base, the growing appetite for low emission cars is helping to offset the fall in petrol and diesel registrations. It’s having a similar impact in terms of used prices too, with the average price tag of a pure EV surging 9.5% last month.

“If further evidence was needed of the opportunity AFVs represent for the industry, the 2015 Renault Zoe is currently the UK’s fastest selling used car, taking an average of just 23 days, closely followed by the 2018 Kia Niro hybrid at 24 days. It clearly highlights the desperate need for a clearer and more compelling narrative from the government to encourage consumers to make a switch from fossil to electric.” 

In a recent consumer facing video, our You Tube Director @MrRoryReid explains why the 2030 ban on new petrol and diesel car sales is a good thing and why car buyers need to embrace EVs. Do you agree with his viewpoint? https://t.co/y89i8EvQoe
Good news for retailers in England with today's confirmation that retailers can remain open in all tiers that come into effect from Wednesday 2 December. https://t.co/R1RAQCBpAx
Join @Motor_Ombudsman , Auto Trader and @radiuslaw for a free webinar exploring the future of online retail in the automotive industry in detail. Register now > https://t.co/9e5gGIp2Ix https://t.co/mbuNuYcYD3
Leads from Auto Trader continue to be far higher when compared to the same time last year, with the year-on-year (YoY) increase in leads higher than the increase in visitors to Auto Trader, up 15.3% YoY, and ad views, up 12.2% YoY. https://t.co/On3wLY81J5
Be sure to clearly display what delivery methods you are offering and what safety measures you have in place on your Auto Trader adverts. Many retailers already have... https://t.co/P9qqRfcsIU
Remember to upgrade your package by the 30th November to benefit from our free December period. Contact your account manager for more details. https://t.co/gQr63pAnaP
Our latest support for retailers in the UK in December. https://t.co/5lX1pXw2ka
Over to our Data & Insight Director @therickw who reveals that visitor levels to Auto Trader are up 15.3% compared to the same time last year with leads up a massive 25.2%. https://t.co/OGfyiQD5Yu
A reminder from @MarcThornboroug that if you are taking part in any fundraising activities, we do have a fund to support you. Get in touch with your account manager to find out more. https://t.co/QJbvEpTRBS
And we're off with @stuart_trader kicking off this week's webinar. Stay tuned right here for all the highlights over the next hour.

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