Auto Trader saw its pre-tax profits drop by 2% to £293.6m for its full year results, but posted an increase in revenues and operating profits across the core business.
Automotive retailers that are investing in digital services to offer a seamless customer journey online and in the showroom are reporting higher sales volumes, according to Auto Trader.
Over 1,000 automotive professionals from 100 businesses have now achieved Carbon Literate status to help achieve their wider sustainability objectives.
Used retail prices have increased by 3.6% year-on-year on a like-for-like basis, according to Auto Trader’s latest data.
Auto Trader has called for incentives and tax breaks to make electric vehicles (EV) more affordable and put the UK Government’s plan to ban pure petrol and diesel vehicles by 2030 “back on track”.
The under-pricing of used car stock cost UK car dealers £25.5 million in missed retail opportunity in March alone as average values continued to rise, Auto Trader data shows.
Used car price growth accelerated to 2.3% year-on-year in a market that Auto Trader has asserted is in “robust health”.
Used electric vehicle (EV) values have continued to decline as falling values dent dealer confidence but boost affordability for car buyers looking to make the zero emissions transition, Cap HPI has said.
Auto Trader has diagnosed the used car retail sector with “robust health” after reporting a 0.7% rise in the average value of a vehicle during February trading.
Used car prices have continued to climb, reaching the 34th month of consecutive growth, according to Auto Trader.
The average price of a used car advertised for sale on Auto Traders has reached a new record high after car retailers started the new year with “real momentum”, it has been claimed.
Car retailers are expected to shrug off the key performance indicators (KPIs) of the past as they prepare for a 2023 economy which will see recessionary consumer spending habits layered on top of ongoing vehicle supply issues.
The average price of a used vehicle advertised for sale on Auto Trader rose for the 33rd consecutive month in December – reaching £18,030.
Half of drivers now want to own a car as they are unable to rely on public transport, according to Auto Trader research.
Auto Trader will launch its largest integrated marketing campaign on Boxing Day to drive consumers in the market for new and used cars to its retailer partners.
Auto Trader expects used car values to rise in early 2023 after remaining flat in the traditionally weak festive trading period.
Auto Trader has raised concerns that the electric vehicle (EV) market is faltering after the cost-of-living crisis sparked the first post-pandemic decline in demand for zero-emission transport.
Stock shortages are expected to trigger a 3% decline in used car sales during 2023, despite a 19% uplift in new car registrations, according to Auto Trader.
Used car values declined 0.4% month-on-month but remained 45% ahead of pre-pandemic “norm” during November, according to the latest data from Auto Trader.
Consumer demand for motor finance remains strong despite surging interest rates, with engagement up 46% on pre-pandemic levels according to Auto Trader.
