11:32 am, October 22, 2024
MG is the hottest electric car brand on Auto Trader in October, generating more than one in five enquiries for all new EVs.
Latest data from the firm shows that the Chinese-owned British brand accounted for 21% of brand new electric car enquires sent through its platform this month. It’s more than double the share of BMW (8.9%) in second place, and four times bigger than Nissan’s share in third (5.2%).
MG also leads the way in terms of hottest models, too, with its MG4 hatchback, MG5 estate and ZS EV crossover locking out the top three of all models on Auto Trader.
Auto Trader said its data shows the demand is being driven by the firm discounting its models.
Discounts of around 20% are being applied to the MG4, and as much as 30% for the MG5 and ZS EV.
The data also showed both BYD and Omoda are recording notable growth in enquiries for their brand new models, albeit from a small base.
BYD is October’s fastest growing new car marque overall on Auto Trader, recording the largest month-on-month increase in lead share, fuelled by the launch of its brand new plug-in hybrid, the Seal U, which is October’s fastest rising model (up 1.1% MoM).
Omoda, which has only been in the UK for a few months, is currently the sixth fastest rising model.
Auto Trader said the performance of these brands is ‘all the more impressive’ given that these brands’ discounts are among the lowest in the new car market, at just 6.4% and 5.2% respectively.
At a broader level, Auto Trader said demand in the new car market as a whole is still robust.
Visits to its platform were down 2.5% in October, but this was to be expected after a plate-change month, while October was up 16.5% year-on-year.
In September, the average discount applied to brand new electric vehicles reached a record circa. 12.1%, up from 8.9% in August, which is helping consumer uptake, said Auto Trader.
While the proportion of brand new EVs offering a discount has fallen from 74% in September to 69% this month, the average discount being applied has risen slightly to 12.4%.
In contrast, average discounts applied to brand new cars overall has softened marginally from 9.1% to circa 8.9%.
Auto Trader’s new car performance director, Bex Kennett, explained: ‘Over the last few months we’ve seen brands and retailers work hard to stimulate consumer demand, and we’re seeing the result on our platform.
‘Despite the natural softening expected following a plate change month, the underlying interest in new cars remains robust as the combination of choice and affordability plays through.
‘To support, we’ll continue to invest in our new-car marketing campaign. Since its launch we’ve seen a 15% year-on-year uplift in new car enquiries.’
Most in-demand EV brands in October
- MG
- Share of enquiries: 20.9%
- BMW
- Share of enquiries: 8.9%
- Nissan
- Share of enquiries: 5.2%
- Ford
- Share of enquiries: 5.0%
- Hyundai
- Share of enquiries: 4.1%
- Tesla
- Share of enquiries: 4.1%
- Mini
- Share of enquiries: 4.0%
- Renault
- Share of enquiries: 4.0%
- Citroen
- Share of enquiries: 3.9%
- Kia
- Share of enquiries: 3.9%
Most in-demand EVs in October
- MG4
- Share of enquiries: 9.2%
- MG5
- Share of enquiries: 5.5%
- MG ZS
- Share of enquiries: 4.9%
- Nissan Leaf
- Share of enquiries: 4.6%
- Jaguar I-Pace
- Share of enquiries: 3.6%
- Ford Explorer
- Share of enquiries: 3.3%
- Hyundai Ioniq 5
- Share of enquiries: 2.7%
- Tesla Model 3
- Share of enquiries: 2.7%
- Honda e
- Share of enquiries: 2.7%
- Renault Scenic E-Tech
- Share of enquiries: 2.3%
Most in-demand cars in October, all fuel types
- Volkswagen Golf
- Share of enquiries: 3.0%
- Land Rover Defender 110
- Share of enquiries: 2.8%
- Range Rover
- Share of enquiries: 2.8%
- Range Rover Sport
- Share of enquiries: 2.2%
- MG4
- Share of enquiries: 1.9%
- MG ZS
- Share of enquiries: 1.8%
- BMW 1 Series
- Share of enquiries: 1.7%
- Cupra Formentor
- Share of enquiries: 1.7%
- BMW X5
- Share of enquiries: 1.6%
- Kia Sportage
- Share of enquiries: 1.5%
