Press release

Used car transactions Q3 2018

Auto Trader's response to the Q3 used car transactions

Whilst consumer appetite for alternatively fuelled vehicles (AFV) is growing rapidly in both the new and used car markets, the biggest challenge to the government’s road to zero ambitions may no longer be the traditionally perceived barriers to entry, such as cost and infrastructure, but rather a matter of long-term supply and demand” said Ian Plummer, Auto Trader Director. 

 

“Despite the lack of a compelling narrative from the government to make a switch from fossil to electric, used AFVs recorded a strong performance over the last quarter. It’s a similar picture on our marketplace where over the last three months the percentage of fuel related searches attributed to AFVs has increased from 4 per cent to 7 per cent, having remained flat for over a year. And in July, the UK’s fastest selling used car was a Renault Zoe; a first for a fully electric vehicle. 

"However, whilst AFVs undoubtedly represent an exciting opportunity for retailers, significant growth may be hampered by a lack of availability. In terms of stock to search ratio, each AFV car advertised on Auto Trader receives an average of four times as many searches than the average petrol car. Purely electric vehicles (EV) receive nearly nine times as many. And with some manufacturers questioning the ROI in supplying post-Brexit UK with the much anticipated second generation EVs which will be in high demand throughout their other European markets too, demand may outstrip supply in both the new and used markets. In addition, it’s expected that once we leave the EU, car sales in the UK will no longer count towards the very tough European environmental targets that brands need to achieve across their entire range, potentially further reducing the incentive for brands to focus on selling their new alternatively fuelled cars in the UK

"It's another challenge retailers will have to face in what has already been a difficult year, including Brexit and fuel type anxieties, as well as more recently, the impact of Worldwide Harmonised Light Test Procedure (WLTP) regulations. However, despite the uncertainties, the second-hand market continues to show great resilience, and offers plenty of opportunities for retailers managing a far more turbulent new car market. 

"The prospects for the closing months of 2018 look equally promising. The narrow pipeline of WLTP compliant vehicles provides a great chance to capitalise on impatient car buyers open to nearly new alternatives. Indeed, we’ve seen an increase in nearly new ad views over the last two months.

Ever wandered what impact a mention on @BBC_TopGear can have on a brand? Even for the mighty @forduk #Fiesta a review or positive mention can result in a massive spike in ad views on our market place https://t.co/SUyoJrSAAq
And another #MakeACarAMove beauty from @SinclairSkoda !! 👏 https://t.co/0Zq4RENHnp
Did you see the fun we had yesterday with #MakeACarAMovie?! Great effort as always from the gang @eCars247 ! 🤣 https://t.co/ua9VtWTKlK
Exciting news! Entries are now open for the 2019 #ATAwards self-nomination categories: Business Initiative of the Year & the People & Culture Award. As last year's big winner @RobinLuscombe highlights, a winner's logo can make a big difference. Enter here https://t.co/gV180jMxhE https://t.co/QtqBA0dXpq
It's no revelation that new cars are becoming more sophisticated, but did you know that explaining semi-autonomous features & avoiding jargon can not only improve the chances of a sale, but also build brand loyalty? Chris Penny highlights what that could mean for your business. https://t.co/bmUcdNuJ1P
Today marks the launch of Retail Accelerator, the UK's most powerful forecourt management solution. The brand new tool represents 3 years of significant investment in our data capabilities & will replace the successful i-Control. Find out more here: https://t.co/nHb69I2dpu https://t.co/lBVN2bMcuJ
It was a big month for used EVs in March; not only did the @NissanUK Leaf take the top spot as the UK's fastest selling used car, but we saw a record number of AFVs make it onto the regional top 10s. A sign of things to come? Read more here: https://t.co/GtjVcFjCNJ https://t.co/H5eLB5In07
Have you registered for tomorrow's webinar? With a focus on EVs you’ll get an insight into the buying behaviours of 5,000 consumers - the cars they’re buying the shift in buying trends & how to make the overall process easier. Sign up here https://t.co/eqGvYTYqvc https://t.co/ec56vT7I2n
Huge congratulations to the UK winners of @Groupe_Renault's annual Dealers of the Year Awards hosted at the iconic @StadeFrance. @RenaultRetailUK's top performing UK dealers were amongst the very best in the world! 🍾 Read who scooped what award here: https://t.co/99CzFUjdIX
Love cars? Live in the Surrey area? Then make your way to @TrustFordUK #Epsom this Sunday for an amazing 150+ car show in aid of the brilliant automotive charity @BenSupport4Auto. Lots of fun to be had for the whole family so don't miss out; details here https://t.co/OAlcYg387h https://t.co/T9Y7mHqJXZ

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