New car demand rallies after April dip, says Auto Trader
New car demand rose in May after a slight April lull, according to the latest data from Auto Trader.
It reported a three per cent month-on-month increase in visits to its platform, with year-on-year visits rising by 14%.
Supply is also improving with the volume of new cars advertised on Auto Trader 14% higher than the same period last year.
The most popular electric vehicle was the newly-released Renault 5 E-Tech, which attracted 9.1%, while in second place the Skoda Elroq attracted 4.7% of enquiries.
Renault was also the most popular brand among electric car buyers with a 9.9% share of enquiries, followed by BMW (7.6%), and Volkswagen (7.5%).
Brand demand
However, BMW ranked first across all fuel types with a 12.3% share of enquiries, while Land Rover and Volkswagen swapped places since April, generating a 10.4% and 9.8% share respectively.
Chinese brands are fast making up ground though. The Jaecoo 7 was the third most searched for model with a 2.8% share of enquiries and BYD’s Seal U attracted 1.8% of searches to move from ninth to sixth.
Bex Kennett, new car performance director, said: “It’s been an encouraging month so far for the new car market as demand amongst consumers picks back up again after the seasonal softening in April following the March plate change.”
Growing sales
She continued: “As a result of this, we’re confident what we’re seeing on our platform will convert to sales in the coming months. For electric, whilst the industry is currently tracking behind the ZEV mandate target this year, there are plenty of new electric models turning heads this month including Renault’s bold and affordable 5 E-Tech and the Skoda Elroq which will hopefully help manufacturers get closer to the target.
“With interest in the new car market still buoyant, there is a great opportunity for retailers to capitalise on this by ensuring they stock some of the most in demand cars in front of the largest audience of car buyers”
