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 was a great November for @renault_uk with the Grand Scenic and the Kadjar taking the top spots for the UK's fastest selling used cars. And despite the new car challenges, diesel remains a popular choice in the second-hand market https://t.co/DBdIjblRvk
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What an amazing achievement! Congratulations and a huge well done to everyone at @TrustFordUK https://t.co/ltTxKOzlsY
Attracting buyers is key to selling faster but are you stocking the right vehicles? To help you fill your forecourt with the most profitable vehicles we have some top tips on our trade site. Take a look and see if you'r ready to start 2019 with a bang https://t.co/9KI0ZxM6wU https://t.co/64iAuCUAUC
And now it officially feels like Christmas! Brilliant job @AMchatter we were looking forward to this 🎄🎁 https://t.co/MEoaIDH9RV
Figures from the @SMMT this morning show new car registrations dipped slightly (-3.0%) in November. Year to date, the market is down -6.9%. How does that compare to what you're seeing this year? For full results, visit: https://t.co/51IDcxrwH0 https://t.co/cBVDU2QnvO
This week we hit over 500,000 cars listed on our marketplace. We're very proud to not only attract the largest audience of engaged car buyers in the UK (55 m multi-platform visits a month!) but to serve them with the largest collection of new and used cars too 🚗 https://t.co/pnfuFoFWv3
Huge congratulations to our editorial director Erin Baker who was highly commended at last night's Renault UK / Guild of Motoring Writers Journalist of the Year Award. Massively deserved! 🍾🍾 #GOMWawards https://t.co/TmyqwwgPY9
Our data showed that the fastest selling used car in October was the 2015 Hyundai Tucson (diesel manual), which took an average of just 19 days to leave UK forecourts. Despite the challenges 9/10 of the UK's fastest selling were diesel. Read more here https://t.co/UFAVhwzkC7 https://t.co/3e5YBgvgYQ

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