Consumer Demand Surges Reports AutoTrader
June 5th 2020
A recent data report from Auto Trader’s Retail Price Index highlights consumer demand surges as forecourts and showrooms reopen across England. This renewed confidence in the market and a new high level of consumer demand being recorded, Auto Trader has seen an average of 1.7 million visits to its marketplace every day (a 5% year-on-year increase), with a peak of 1.8 million on the 1st June.
This increase in traffic has resulted in a huge growth in both advert views (up 19% year-on-year) and leads. Last week, the number of leads being sent to retailers increased 75% year-on-year, and on 1st June, surged to 108% as consumers can’t just ‘turn up’ to a dealership without prior contact anymore.
Richard Walker, Auto Trader’s director of data and insights, comments:
“Given the negative impact it could have had on the financial health of the market, it’s a huge relief to see that despite the huge pressure over the last 10 weeks, retailers have remained firm and resisted the urge to lower prices. And with consumer demand surging this week, it’s clear it was absolutely the right decision.
“The reopening of showrooms in England this week marks an important first step on the industry’s road to recovery, but with trade auctions remaining closed, the challenge retailers currently face will not be selling cars, but rather restocking them. Such high levels of demand, coupled with a low level of supply, retailers can afford to continue holding firm.
Visit www.plc.autotrader.co.uk for more information on the Auto Trader Retail Price Index.
E-Type UK’s Director, Marcus Holland, comments:
“Having successfully managed to remain open throughout lockdown, following strict government guidelines, here at E-Type UK, we are pleased to report similar findings around sales and enquiries during this period."
"Seeing a healthy and steady increase of sales, encouraged by our adaptable approach in offering a full digital purchasing service, via virtual experience videos, additional photos and over the phone appraisals, we strive to provide our interested parties with complete confidence in their purchases.”
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