Press release

Used car transactions | Q2 2020

Auto Trader's Commercial Director, Ian Plummer, offers his view of the latest used car transactions data

With the majority of Q2 under lockdown conditions and all but a few retailers unable to sell in a meaningful way, it’s little surprise to see such a significant decline in used car sales. Over the full year, we almost certainly won’t make up for all the weeks of lost sales, however, from what we’re observing on our marketplace and what we’re being told by our customers, Q3 is tracking ahead of the same period last year, and is likely to finish that way.

“Whilst consumers couldn’t buy during much of Q2, we still saw a healthy level of demand. After an initial dip, it continued to increase during the second phase of lockdown with our audience, vehicle advert views and sales leads to retailers all above the previous year’s performance. And since showrooms have been able to reopen, we’ve seen these levels accelerate dramatically; in June we recorded 64 million visits across our platforms, and in July, a record 64.4 million, which is a 22.7% increase on the same period last year. This is translating to a significant increase in engagement with retailers too, with sales leads surging 67% year-on-year.  

 “This is all indicative of a market which was paused, rather than stopped, which was also reflected in average used car prices remaining stable during the period. Unlike the financial crisis, where retailers slashing their prices to entice car buyers had a very negative impact on the financial health of the market, with COVID-19, retailers have held firm. With such high demand, coupled with challenges in the supply chain, it’s absolutely the right decision, and in fact we’ve seen four months of consecutive growth in used car prices, with July recording the highest rate of growth since August 2018.”

With forecourts in England and Wales set to open next week, our Data & Insight Director @therickw shares our latest audience insights revealing how we are seeing buyer behaviour change as lockdown measures ease. https://t.co/yIMnXbLtn0
Performance Rating helps you quickly understand how well your adverts are performing vs competing adverts and know whether your adverts are winning buyers’ attention. Plus we’ve improved how you can track performance improvements over time. https://t.co/4IhSUpEV81
Following 4 months of price growth slowing, due to the record levels of demand in the market, last month not only saw the 12th consecutive month of price growth but also the first monthly increase in the rate of growth since October 2020. https://t.co/aQQ27H6QOl
A reminder from @stuart_trader to login to Portal to let us know if you offer admin fees. 92% of retailers already have. https://t.co/TkUEpnyx5p
When we look at vehicle pricing by age bands we can see strong growth for all vehicles, with those vehicles in the 5-10 year old and 10-15 year old age bands seeing the strongest like-for-like price growth. https://t.co/0PvxqEjLvZ
Our Data & Insight Director @therickw returns for his ever popular audience update, revealing that visits to our marketplace are up by 89.4% compared to the same period in 2020 and up by 27.5% when compared to the same period in 2019. #RichWalkerfanclub https://t.co/NR8mywkxCE
Just 15 minutes until today's webinar. You can still register to watch live or stay tuned right here for the highlights > https://t.co/Foqq4rVl2N https://t.co/my9knVy7eL
For the first time since August, new car registration numbers grow with the @SMMT reporting a welcome year-on-year growth in registrations of 11.5% in March. https://t.co/WAPeT02wou
As forecourts reopen, we look at reasons to be optimistic for April and share some practical advice for retailers looking to keep up with the industry as it moves forward beyond the pandemic. https://t.co/BwGEsCm9Kj
Register for next week's webinar where @Lusky91 of Luscombe's Leeds will reveal how they have advanced their digital retailing during lockdown and how they’re going to use these learnings to make more efficient sales in future > https://t.co/Foqq4rVl2N https://t.co/7opxnTlSdV

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