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.

Premium German marques dominated the saloon market last year, but which model was most popular on Auto Trader? Congratulations to @BMWUK_ because the brilliant 3 Series took the top spot 😎 https://t.co/PuqN3FML3Q
If you're a franchise or group dealer and would like to find out how you could save £31 per standard move, don't miss out on today's Motor Trade Delivery webinar at midday. Tune in here: https://t.co/LbG6ZnKCec https://t.co/gdCYbban9D
Are you a franchise or group dealership moving vehicles? On average, you can save £31 per standard move with our Motor Trade Delivery offering. Join our webinar tomorrow at midday to find out more. Register here: https://t.co/LbG6ZnKCec https://t.co/R89p5JhCew
With the Finance & Leasing Association announcing the consumer car finance market grew 1% in December, lets look at 2018's most searched for models on finance. Leading the top 5 is the iconic @UKVolkswagen #Golf https://t.co/DCRLNJNM9T
Huge congratulations to everyone at @swanswaygroup for Best Dealership, it's massively deserved. We're delighted to hear how impactful stocking new cars on Auto Trader has been for the business - the perfect example of digital best practice! 🍾 https://t.co/KKm9EYRcpI
Thank you to the @RMI_NFDA team for another excellent #DrivingDigital. Nathan Coe took to the stage this morning to discuss the key changes in the industry & Ian Plummer joined @NFDASueRobinson to share new car opportunities. Looking forward to next year already! https://t.co/kyWdWhiCNs
Don't miss Catherine Faiers on @BBCRadio4's #BriefingRoom at 8pm this evening. She joined the @FT's @Petercampbell1 & Ian Henry of AutoAnalysis to discuss what's on the horizon for the UK automotive industry. You can tune in live here https://t.co/OX7HO8bSLP https://t.co/ZfRrZGAqlO
Good morning! 15 mins to go before our first #ARNLive of 2019. Don't miss out on tips & helpful guidance on hitting your targets. Tune in here https://t.co/K7xuX0IA0p https://t.co/pSt9p565qP
According to today's new car registration figures for January, the market saw a -1.6% dip on last year. However, it's been a strong start for alternatively fuelled vehicles which recorded a +26.3% increase on January 18. You can read our response here: https://t.co/M5DJiNsIBx https://t.co/4MuGEhWiMZ

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