Buyer demand falls as inflation rises
- Posted by: Alan Feldberg
- Categories: Featured, News
Demand for new and used vehicles fell again in June, marking the fourth consecutive month of declines, according to new data from lead management experts at iTrackLEADS.
It found that overall enquiries declined by 16%, and sales fell by 12.5% against the same month last year. Meanwhile, test drives declined by 14%, and vehicle handovers fell by 35%.
The data mirrors the latest SMMT data, which showed the UK’s new car registrations fell to their lowest June level since 1996 as a result of persistent component supply problems, which caused a 24.3% decrease.
Adrian Favill, director of iTrackLEADS, said: “In a challenging market, it is essential that every lead is nurtured. It’s critical to respond to enquiries quickly because our data shows that up to 78% of sales go to the retailer that responds quickest.
“It’s also important for sales teams to review the data frequently to ensure that trends can be exploited and issues addressed promptly. Additionally, visibility of the data will help to create an efficient and high-performance team.”