Press release

Used car transactions | Q2 2020

Auto Trader's Commercial Director, Ian Plummer, offers his view of the latest used car transactions data

With the majority of Q2 under lockdown conditions and all but a few retailers unable to sell in a meaningful way, it’s little surprise to see such a significant decline in used car sales. Over the full year, we almost certainly won’t make up for all the weeks of lost sales, however, from what we’re observing on our marketplace and what we’re being told by our customers, Q3 is tracking ahead of the same period last year, and is likely to finish that way.

“Whilst consumers couldn’t buy during much of Q2, we still saw a healthy level of demand. After an initial dip, it continued to increase during the second phase of lockdown with our audience, vehicle advert views and sales leads to retailers all above the previous year’s performance. And since showrooms have been able to reopen, we’ve seen these levels accelerate dramatically; in June we recorded 64 million visits across our platforms, and in July, a record 64.4 million, which is a 22.7% increase on the same period last year. This is translating to a significant increase in engagement with retailers too, with sales leads surging 67% year-on-year.  

 “This is all indicative of a market which was paused, rather than stopped, which was also reflected in average used car prices remaining stable during the period. Unlike the financial crisis, where retailers slashing their prices to entice car buyers had a very negative impact on the financial health of the market, with COVID-19, retailers have held firm. With such high demand, coupled with challenges in the supply chain, it’s absolutely the right decision, and in fact we’ve seen four months of consecutive growth in used car prices, with July recording the highest rate of growth since August 2018.”

Less than 24hrs until out next #webinar with Nathan Coe and @MarshallMotorGp. Register now and if you can't make it live we'll send you the recording https://t.co/lkzIgM8S0L #webinarwednesday #automotive #insights https://t.co/RePEpYeS64
It would seem Gen-Z'ers are now flocking to driving as COVID-19 restrictions get stricter. Find out more including insights from @REDDriving https://t.co/phgW2Ese7g #atinsightoftheday #GenZ https://t.co/P6chl5PmcB
Right now our panel of judges are busy reviewing the self-nomination award entries for this year’s Auto Trader Retailer Awards. Who will they decide are this year’s winners? Find out by registering to join the awards live on the 23rd October at 1pm > https://t.co/ZdjzevlJd3 https://t.co/rpobMrn4yf
In this week’s webinar Nathan Coe & @MarshallMotorGp will be discussing: -September's performance -How the job retention scheme might impact the #automotiveindustry -How #cardealers can finish the year strong & reach their year end objectives Register at https://t.co/yfbWqH66RA https://t.co/8rHpHIsSEG
Next week will see the launch of Retailer Performance Masterclasses (RPM) our all new online masterclass hub. Find out all you need to know in our latest blog post from @chrispenny222 > https://t.co/UUmrTQzbKa #RPM #autotrader #masterclass #insights #bestpractices #cardealers https://t.co/CzREOLoLbW
Our latest audience figures show no signs that last week’s Government announcement has impacted buyer demand with over 2 million visits to our site and 20 million minutes being spent on site by buyers looking for their next vehicle each day last week. #atinsightoftheday https://t.co/h0uTNtWuet
We've got something very exciting launching soon... Wednesday 7th October, save the date 👀 #RPM https://t.co/op0RVqngLN
The @KiaUK Sorento is currently the UK’s fastest selling car, taking an average of just 24 days to turn on UK forecourts according to our Fastest Selling Index. #atinsightoftheday #kia #mazda #peugeot #mercedes-benz https://t.co/0amym8KyIK
Join us on Thursday at 10am for our next #webinar to hear our latest #automotiveindustry updates and #insights and to hear from our CEO, Nathan Coe and @MarshallMotorGp Register now >https://t.co/knn3yUlJ3l https://t.co/HaxCu2EFss
Nathan Coe, our CEO, shared an update with our customers today reassuring them that Boris' announcement earlier this week has had no negative impact on consumer demand. Read Nathan's full thoughts on our latest blog post: https://t.co/sx37kiEHBY

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