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.

'It is estimated to be seen or heard a total of 541 million times by nearly three quarters (74%) of the UK’s adult population'. Take a read of this @AMchatter story to hear how our new ad campaign is driving millions of new car buyers to our marketplace https://t.co/swsCNal9jM
Find out how with just a few tweaks to their pricing strategy, this @AudiUK retailer became the best performer within their brand for new car leads on Auto Trader. Discover how we can help you sell your brand new stock: https://t.co/Zsb9UUlb4i https://t.co/YLrU3I7Ctn
Looking forward to a great #CDX19. A very strong line up this morning on the Live Stage, with Daksh Gupta, John O'Hanlon and John Tordoff sharing their insights on the market https://t.co/cGIPwY2NXk
With lots of jargon, media noise, technical reviews & friendly advice consumers often find the new car journey a confusing one. As depicted in our new marketing campaign we're making it simpler for consumers to find & buy your brand new cars. Find out more https://t.co/wB57otWG4K https://t.co/5cLBiRGiWy
Tonight we'll be launching our brand new marketing campaign designed to reinforce our position as the number one destination for new cars. Tune in to ITV1 at 8pm tonight to see how we'll be driving millions of new car buyers to our marketplace #silencethesquawk https://t.co/mWYtqd1DUR
According to the latest fastest selling cars data the 2012 @forduk Focus estate was the quickest used car to leave forecourts in May taking an average of 18 days to sell. Our search data also shows estates were the most searched for body type last month https://t.co/pVpoqFJbPX https://t.co/NUhWgyvtc4
We're looking forward to tomorrow's #ATAwards judging day. An incredible panel of retail, automotive, digital, advertising & culture experts will be scrutinising this year's self-nomination entries to determine the 'best of the best' retailers. Good luck! 🤞 https://t.co/LCYZYNjqew
Over 100,000 brand new cars are unadvertised. If you’re a franchise retailer & want to take your brand new stock out of hiding, we can help put it in front of the UK’s largest audience of buyers. Request a demo or get in touch to start advertising today https://t.co/Zsb9UUlb4i https://t.co/Y4kHq001MF
With UK car production plummeting, our editorial director @ErinBakerMotors was invited to join the @bbc5live Drive team yesterday to discuss the impact of #Brexit, economic uncertainty & the rise of EVs on the market. You can take a listen here (1:52 in) https://t.co/xmblW2BPoJ https://t.co/S283jiLt66
Over 100k brand new cars are unadvertised. With millions of visits each month we can help your brand new stock reach a huge audience of buyers. Have a listen to how @SwanswayGroup is revealing its brand new cars on Auto Trader. To find out more visit https://t.co/Zsb9UUlb4i https://t.co/ONRDgVaaVV

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