Demand rises but handovers stall
- 14 February 2022
- Posted by: Alan Feldberg
- Category: News
New data shows that demand for new and used vehicles surged in January against the same month in 2021, with a 30% increase in enquiries and a 12% leap in sales.
This is according to lead management experts iTrackLEADS, which also found the ongoing new vehicle shortages led to a 27% fall in handovers.
Adrian Favill, director of iTrackLEADS, said: “Dealers are managing to navigate the current challenges with new vehicle supply and a shortage of used stock to increase overall sales on last year. It’s clear that buyers understand the current delays and are prepared to wait for the car they want.”
The study examined new and used vehicle data from over 300 dealers across the UK. It tracked the sales process from initial enquiry to test drives, sales and vehicle handovers.
The company advises that consumers respond positively to a speedy and professional response to an enquiry. Its data shows an industry average of 50 mins to respond to an enquiry, while the quickest operator has an average response of 69 seconds.
The fastest response times saw 10% of enquiries converted to test drives and 84% of test drives turning into sales.