New Car Demand Heats Up Before September Plate Switch

Demand for new cars seems to be heating up, with Auto Trader noting a nearly 7% increase in visits to its new car platform this month compared to July.

With the crucial plate-change month of September, this marks a significant improvement from the 2.7% rise seen at the same time last year. It also represents a substantial rebound from July’s 0.2% dip, giving Auto Trader reason to be optimistic as the key sales period approaches.

The data, derived from around 2 million monthly new car visits and over 6.5 million daily new car searches, indicates that strategies to boost demand by enhancing affordability and choice, along with increasing the visibility of new car stock to engaged buyers, are proving effective.

The volume of new cars listed on Auto Trader has surged notably this year, with August's figures showing a 23% increase from January. The all-electric MG ZS is currently the fastest-growing new electric model on Auto Trader, thanks to what the marketplace describes as an 'enticing combination' of discounts, finance offers, and deposit contributions.

Meanwhile, the MG4 has emerged as the second-fastest growing model. Despite this rise in demand, it hasn't displaced Honda’s e:Ny1 from the top spot for overall EVs. However, it has propelled MG to the forefront of electric brand rankings. MG now commands a 16.1% share of all new electric inquiries, generating nearly double the leads of Hyundai (8.2%) and Honda (7.8%), and almost four times more than Mini in 10th place (4.4%).

Bex Kennett, Auto Trader’s new car performance director, commented: ‘September continues to be a crucial month for new car sales. Despite broader market challenges, the strong performance on our platform should be encouraging. To maximize opportunities during this key plate-change period, we’ve launched our largest-ever consumer marketing campaign, aimed at driving more highly engaged new car buyers to the 20,000 new cars listed on our site. Retailers should seize this chance and ensure their stock is visible to potential buyers in the coming weeks.’

Most Sought-After New Electric Car Brands on Auto Trader in August, Based on Queries/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 Sought-After New Electric Car Models on Auto Trader in August, Based on Queries/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 Sought-After New Car Brands on Auto Trader in August, Based on Queries/Leads – All Fuel Forms

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 Sought-After New Car Models on Auto Trader in August, Based on Queries/Leads – All Fuel Forms

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%

Source and Image: CarDealerMagazine