11:23 am, August 27, 2024
New car demand is said to be ramping up, with Auto Trader reporting visits to its new car platform rising by almost 7% so far this month versus July.
With the key plate-change month of September nearly here, the online marketplace said it was a sizeable increase on the 2.7% month-on-month rise recorded this time last year.
It was an even bigger increase on July’s 0.2% softening and, said Auto Trader, offered optimism ahead of the vital sales period.
The data – based on some 2m monthly new car visits and more than 6.5m daily new car searches – suggested that tactics to stimulate demand by improving affordability and choice, as well as putting more new car stock in front of more engaged car buyers, was proving successful, it added.
The volume of new cars advertised on Auto Trader is said to have increased significantly this year, with levels in August already up by 23% on January.
The all-electric MG ZS, pictured at top, is currently this month’s fastest-growing new electric model on Auto Trader, thanks to what the marketplace said was ‘an enticing combination’ of reductions, finance offers and deposit contributions.
Meanwhile, the MG4 was said to be the second-fastest climber.
Their big rise in demand failed to knock Honda’s e:Ny1 off the overall EV top spot, but it was enough to put MG into first place in the electric brand rankings.
Its 16.1% overall share of all new electric inquiries saw the British-badged Chinese marque generating almost twice as many leads as Hyundai (8.2%) and Honda (7.8%) in second and third place respectively, and nearly four times as many as Mini in 10th (4.4%).
Bex Kennett, Auto Trader’s new car performance director, 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.’
Most in-demand new car electric brands on Auto Trader in August ranked by inquiries/leads
1 MG – 16.1%
2 Hyundai – 8.2%
3 Honda – 7.8%
4 BMW – 7.7%
5 Renault – 6.4%
6 Nissan – 5.8%
7 Peugeot – 5.3%
8= Ford – 4.9%
8= Tesla – 4.9%
10 Mini – 4.4%
Most in-demand new car electric models on Auto Trader in August ranked by inquiries/leads
1 Honda e:Ny1 – 7.4%
2 MG MG ZS – 6.8%
3 MG MG4 – 6.5%
4 Hyundai Ioniq 5 – 6.0%
5 Nissan Leaf – 5.6%
6 Renault Scenic E-Tech – 4.3%
7 Tesla Model 3 – 3.5%
8= Porsche Taycan – 3.4%
8= Mini Electric Cooper – 3.4%
10 Ford Mustang Mach-E – 2.8%
Most in-demand new car brands on Auto Trader in August ranked by inquiries/leads – all fuel types
1 BMW – 13.6%
2 Land Rover – 12.9%
3 Volkswagen –7.9%
4 Audi – 5.6%
5 Hyundai – 5.5%
6 MG – 5.0%
7 Skoda – 4.3%
8 Kia – 3.2%
10= Honda 2.8%
10= Peugeot –2.8%
Most in-demand new car models on Auto Trader in August ranked by inquiries/leads – all fuel types
1 Land Rover Defender 110 – 4.0%
2 Volkswagen Golf – 3.2%
3 Land Rover Range Rover – 3.0%
4 Land Rover Range Rover Sport – 2.6%
5 Hyundai Tucson – 2.4%
6 MG ZS – 2.0%
7= BMW X5 – 1.7%
7= Volkswagen Tiguan – 1.7%
9 BMW M3 – 1.6%
10 BMW 3 Series – 1.5%
