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.

Discover what we are doing to keep #consumers engaged with our platformin order to help #cardealers build their #salespipeline in our latest blog post from our COO Catherine Faiers - https://t.co/t4Sv4m9YjB #cornonavirus #consumerbehaviour https://t.co/7LTGzvyJSN
Join us for an Auto Trader Insights webinar where we will be discussing the current trends we are seeing across the #automotive market as we continue to navigate our way through the #coronavirus outbreak. https://t.co/AxxdZtR7i0 https://t.co/uzTeeCtzHm
On yesterday's customer webinar we highlighted that whilst consumers might not be able to visit dealerships, a variety of metrics indicate there's still consumer demand. If you missed the session, which included @ASE_Global's @mikejonesase, catch up here https://t.co/7qLr0Tz3hT https://t.co/LBGALeheWT
We brought forward the launch of our new #marketintelligence tool, AT Market Insight, to ensure #cardealers can keep up with the changing market conditions in these turbulent times. Discover how you can use this new tool now in our latest blog post. https://t.co/50K8rBG2Xi https://t.co/Cc3rZFAk8f
30 minutes left until today's webinar! Register now to hear the latest advice on what options #cardealers have during #coronavirus. Even if you cant make it we will send you the recording https://t.co/vr0dwQTD3J https://t.co/VuIea3MFoK
Have you signed up to our next weekly webinar? We'll be talking through what options #cardealers have amidst the #coronavirus. Tune in tomorrow at 10am and if you can't make it, sign up and we will send you the recording. https://t.co/vr0dwQTD3J https://t.co/omXRjB386q
Last week our #Data & #Insight Director, @therickw joined our webinar to talk retailers through key market observations he had made. Well, we’ve invited him back to share another update to see if the story has changed. https://t.co/KcGC6O2nom https://t.co/AcvcSqSpo1
Great to see people coming up with innovative ways of keeping busy during #lockdown... https://t.co/sv7G0osaLd
Start the week off right with @MarcThornboroug's latest tips on practical things retailers can be doing now to help build that #salespipeline whilst #workingremotely https://t.co/NKxMkK5qbv https://t.co/xpYaTQbWfo
In next week's webinar, we'll be asking our expert panel 'What options do retailers have amidst COVID-19?' Discussions will include furlough for employees & funding for self-employed retailers. Submit your questions when you register: https://t.co/fifT2NvFOB https://t.co/u6YMY1HQB4

Auto Trader Group plc
Registered in England (Company number: 09439967)

Auto Trader Limited
Registered in England and Wales (Company number: 03909628)

Registered address:

1 Tony Wilson Place
Manchester
M15 4FN
VAT number: GB 614 8918 20

Keep in touch

We use social media to speak to the UK’s largest car buying audience