9:27 am, June 5, 2017
CONSUMER demand for used vehicles leapt in May with a 29 per cent increase in inquiries against the same month in 2016, according to the automotive retail experts, enquiryMAX.
The analysis of dealer data showed an increase in orders for used vehicles of 19 per cent between May 2016 and 2017.
Demand for new vehicles remained steady with a 0.4 increase in both inquiries and orders.
Commenting on the data David Boyce, pictured, managing director of enquiryMAX, said: ‘Demand for used vehicles remained steady in May, which is no small achievement on a record year for the industry in 2016. Used cars continue to provide a profitable focus for dealers, and the 29 per cent leap in inquiries shows that consumer demand remains despite the election.’
The company provides sales lead management software and retail consultancy to more than 600 dealers in the UK.
The data shows May conversion rates of inquiry to order for new vehicles at 22.6 per cent, which compares to 27.8 per cent in April. The figures for used stock show conversion rates of 33 per cent in May against 33.5 per cent in April.
The data analysis, from more than 500 dealerships across the UK, is used to inform retail consultancy and advice for enquiryMAX customers.
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