New car demand is ramping up ahead of September plate change, says Auto Trader

Visits to Auto Trader’s new car platform have risen 7% so far in August, on a MoM basis.

Auto Trader attributes this to improved affordability and choice, as well as more new car stock in front of more engaged car buyers. The volume of new cars advertised on the platform has increased significantly this year, with levels in August up 23% on January.

Bex Kennett, Auto Trader’s New Car performance director, said: “September remains a vital selling month for the new car market, so despite the broader challenges, the robust performance we’re seeing on our platform should be a cause for optimism.

“To make sure our partners have the best opportunity to profit during the key plate change month, we’ve just launched our largest ever consumer marketing campaign, which is focused on driving many more highly engaged new car buyers to the 20,000 new cars advertised on our platform.

“I’d urge retailers not to miss out on the opportunity and make sure their stock is where buyers will be looking for their next new car over the coming weeks.”

The average discount applied has risen from 8.7% in July, to 8.9% this month. Over the last 12 months, discounts have increased from 6.7%.

ZEV mandate pressures have increased the average discount applied to EVs – from 6.6% to 10.9% over the same period.

In recent months, retailers have seen an increased in enquiries about brand-new EVs – 13.6% in February to 16.6% in August to date.