- February 21, 2020
- Posted by: Kirsty Sidley
- Category: Automotive Industry
The UK’s leading automotive marketplace, Auto Trader, has reported a bumper month for car buyers visiting their site in January.
Up five percent on their previous record set in March 2019, Auto Trader recorded a whopping 58 million visitors across its various platforms.
This news shows increasing confidence in dealers being able to move stock quickly and can anticipate a positive start to the year and have reported an increase in footfall to their stores. Demand across all vehicle types is up compared to January last year, with electric vehicles in particular seeing a 110% increase in interest.
Consumer confidence is increasing
This is, in part, thanks to rising consumer confidence in the automotive market following a period of uncertainty. Further research conducted by Auto Trader revealed that 59% of car buyers in January felt more confident in their ability to their next car than buyers did in January 2019.
They also reported that vehicle prices are stabilising. While like-for-like prices have decreased slightly, the speed at which those prices are decreasing has slowed, signalling that they are more stable than in recent times.
Auto Trader’s commercial director, Ian Plummer said:
“Following the general election in December, and now that the light is starting to shine through the Brexit tunnel, it seems that the market is stabilising and hopefully will continue across Q1 and beyond.
With increased consumer confidence too, retailers have a great opportunity to convert sales this quarter, particularly when audiences are so high on our marketplace. Retailers are more confident too. Many of our retail partners have told us they’re feeling optimistic about 2020.”
If you’d like to find out more about how Click Dealer will be able to support your automotive business, then please get in touch with us on 01782 478 220 or by email using firstname.lastname@example.org