Auto Trader reveals spike in new car demand
New car demand has spiked this month with visits to the Auto Trader new car platform up seven per cent month-on-month in August.
This builds on the 2.7% rise in demand recorded in the same month last year and reverses the 0.2% decline recorded in July.
Demand has been driven by lower prices and more choice, with the volume of new cars advertised on the platform up 23% on January and average discounts now up to 8.9%.
Meanwhile, with manufacturers striving to meet the ZEV mandate, average discounts on new electric vehicles (EV) has rocketed from 6.6% to 10.9%. This has seen the share of new EV enquiries increase from 13.6% in February to 16.6% this month.
New car demand
Data found that the all-electric MG ZS is this month’s fastest-growing new electric model, with enquiries increasing 5.1% to 6.8% in just four weeks.
Auto Trader’s new car performance director Bex Kennett, said: “September remains a vital selling month for the new car market, so despite the broader challenges, the robust performance we’re seeing on our platform should be a cause for optimism.
“To make sure our partners have the best opportunity to profit during the key plate change month, we’ve just launched our largest ever consumer marketing campaign, which is focused on driving many more highly engaged new car buyers to the 20,000 new cars advertised on our platform.
“I’d urge retailers not to miss out on the opportunity and make sure their stock is where buyers will be looking for their next new car over the coming weeks.”
