Mallard Vehicle Finance - the sensible finance company
Highly commended at car dealer power awards
Motor Trader Q Awards Finalist 2016
Find Mallard Vehicle Finance on Facebook Connect with Mallard Vehicle Finance on Linkedin

Used car enquiries surged in Q3 as new market faltered

on 12 October 2017

Demand for used cars surged in the third quarter as interest in new cars waned. That’s the conclusion of research carried out by showroom systems provider Dealerweb, which found that from July to September 2017 enquiries for used cars submitted to franchised dealers via the internet rose by almost a third (32%), year-on-year.

This contributed to an overall 4% uplift in all forms of enquiry for used cars during the quarter and a 15% rise for the year to date.
New car enquiries fell by 8% in Q3, and have declined by 3% for the year to the end of September. It revealed that the most notable decline in Q3 was for new-car ‘walk-in’ enquiries, which fell by 11%.

“While the latest registrations data from the SMMT points to the continued decline in new car demand, our analysis brings important additional context, highlighting how a significant volume of enquiries is gravitating towards the used market,” said Martin Hill, managing director at Dealerweb.

“One inevitable conclusion is that consumers are looking to reduce their expenditure, and expect that to be possible by going for used rather than new.”

“The factors behind these changes are well-rehearsed in national media – in particular, uncertainty over the country’s financial prospects in a post-Brexit world. Dealers can’t control the macroeconomic picture, but they can take steps to maximise every sales opportunity through accurate lead qualification and effective response processes.”

Credit: Motor Trader