Demand for new cars is on the rise, with Auto Trader reporting a nearly 7% month-on-month (MoM) increase in platform visits for August ahead of the critical September plate change approaches.
This marks a significant jump compared to the 2.7% MoM increase seen in August last year and a major rebound from July’s 0.2% decline.
Commenting on the data, Auto Trader’s new car performance director Bex Kennett, 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.”
Auto Trader’s data, drawn from approximately 2 million monthly visits and over 6.5 million daily searches, suggests that strategies to boost demand by improving affordability and increasing the visibility of new car inventory are proving effective.
The volume of new cars advertised on Auto Trader has increased significantly, with August levels up 23% since January.
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