Data reveals drop in dealership leads
Automotive retailers in the UK experienced an overall two per cent drop in new car sales leads during 2023, although conversion rates increased from 25% to 30%.
This is according to Dealerweb, which is part of CitNOW Group.
In the used car market, Dealerweb’s analysis found a five per cent rise in enquiries during 2023 and a nine per cent increase in the overall value of orders. The data also that average used vehicle sale prices increased by four per cent to £24,078.
By contrast, new car prices were only up one per cent to £37,192.
Brendan Walsh, chief revenue officer at CitNOW Group, said: “As consumer demand continues to fluctuate, retailers might find it beneficial to think about the digital tools they use to drive the end to end customer experience and how effectively stock is presented through their online ‘shop window’. Good quality digital assets will help boost enquiries, then using a stock profiling tool such as RTC Insights can help drive conversions. By using RTC Insights to monitor stock prices against market trends, retailers can ensure they are always competitive on price and maximise the potential to convert leads.”
