Call us today 0845 265 6000
Email us at sales@motors.co.uk

Viewing posts categorised under: Statistics

Increased focus on used cars for franchised dealers, Motors.co.uk data reveals

by admin

11 20, 2017 | Posted in General, Statistics | 0 comments

Data released today by car search website Motors.co.uk has revealed a growing importance of used cars to franchised dealers as new car sales slow down. The October analysis, which looked at consumer and retail trends from over 500,000 vehicles listed through the platform, reported that used cars for franchised dealers sold 10% faster than September 2017, with dealers also stocking 10% more cars in the month. The increase was driven in part by a renewed focus within franchise dealerships on used cars to compensate for softer new car demand, and also to an increase in part-exchange vehicles coming onto the market as a result of the September plate change. Phill Jones, MD of Motors.co.uk, said, "The data reflects the growing importance of used vehicles to dealerships as the new car market softens,  Put simply, franchised dealers are having more success with used cars: selling more of them and selling them faster.  We expect used cars to grow in importance for franchised dealers over the coming months. "However, although we have seen an uplift on used vehicle data during October, we are entering a quieter time of year when many businesses are positioning for a successful 2018.  Our data provides dealers with insight into how consumer demand is altering." In addition to figures on new and used vehicle sales, the Motors.co.uk data also showed a fall in customer interest in diesel. A slowdown in sales pace was recorded, with diesels taking on average 37 days to sell - an extra day more than when compared to the same period year on year, and 5 days slower than petrol vehicles. This fuel data reflects the latest SMMT data (released 6 November) which revealed sales of diesel cars in the UK fell by nearly a third in October compared with last year.   Ends.

See more

Used cars gain pace on forecourts according to data from Motors.co.uk

by admin

10 16, 2017 | Posted in Statistics | 0 comments

Click here to download the October Motors.co.uk Market View Data released today by car search website Motors.co.uk highlights the importance of used car sales to dealers, with growth in vehicle sales - supported by dealers stocking more used cars, and selling each used car more quickly. The September analysis, which looked at consumer and retail trends from more than 500,000 vehicles listed through the platform, potentially indicates that dealers are anticipating a shift in consumer demand from new to used. Phill Jones, MD of Motors.co.uk said: “Looking at the data, it would appear that dealers are anticipating higher levels of interest from consumers than this time last year, and therefore keeping stock levels high on forecourts in preparation. At present, it does appear to be paying off. Used vehicles are selling more quickly than a year ago, in contrast to the new car data we saw from the SMMT recently.” In terms of the vehicles held by dealers, the data shows that while there were more diesels available for consumers searching online (56% of all vehicles advertised were diesel - an increase of 4% year-on-year), they remained on forecourts for longer - up from 39 to 40 days year-on-year. In contrast, while there were proportionally fewer petrol vehicles advertised (42% of total advertised – down 5% year-on-year) consumer demand was higher, with petrol vehicles generating 48% of vehicle views and selling four days faster than the same period last year (34 days compared to 38). Jones said: “Although diesels are still in demand, and we can expect them to be the dominant fuel type for many months to come, there is evidence that the on-going negative media attention, as well as increased taxes and road charges for diesel vehicles compared to petrol are slowly having an impact on buyer behaviour. In terms of reacting to this emerging change, we advise dealers to use data to understand the right mix of stock to match demand.” The Motors.co.uk data also revealed that while hybrid vehicles equated to a small proportion of overall sales in September, when available, they sold in just 21 days on average. This is eight days faster than in August, and 59 days faster than in September 2016. “This time last year hybrid models were taking 80 days to sell. The drop to 21, compared to diesel and petrol cars, signals a significant change in consumer desire for these models, albeit from a relatively small segment of the overall market. Electric cars are also selling faster month on month, so this shift to alternative fuel types will be interesting to monitor over the coming months,” said Phill. In terms of models, the data revealed on-going interest in smaller, supermini and convertible vehicles, which all saw a reduced stock turn during September. Superminis in particular, such as the Fiat 500X (the top selling model in September) and MINIs were selling six days faster on average, buoyed by the milder weather as we move through Autumn. In contrast however, larger models and 4x4s were defying traditional sales trends. Phill continued: “Affordable, lower asset risk vehicles continue to maintain interest, but larger vehicle segments are not evoking the levels of interest we usually see at this time of year. 4x4s in particular, although in demand, are taking two days longer to sell than in September 2016, although there were widespread thunderstorms and floods last year which we didn’t see this year. “As we move into the wetter, winter quarter ahead, we expect demand for 4x4s and cross overs to pick up, but for the month ahead in particular, we would encourage dealerships to adopt the necessary marketing and display tactics for their smaller vehicles to ensure consumers are aware of the models they have on offer.” Motors.co.uk_October Market View_1 Motors.co.uk_October Market View_2

See more

Motors.co.uk offers car dealers more advertising images

by admin

12 06, 2016 | Posted in Statistics | 0 comments

 

UK car dealers can now present more pictures of their stock to the country’s car buyers thanks to a new solution from Motors.co.uk.

The new offering allows Motors.co.uk dealers to add up to 25 pictures for each of their adverts, giving consumers a wider selection of images to help them make the right choice when they search for their next car on the website.

 

This solution follows best practice advice from Autotrader.com, a Cox Automotive sister company, which found that its customers saw an 18 per cent rise in new and used car sales when they added an average of 25 images to their car adverts.*

 

Dermot Kelleher, Director of Marketing and Business Intelligence at Motors.co.uk, said: “We are committed to providing dealers with market leading solutions and the tools they need to successfully communicate with the country’s car buyers.

 

“By launching 25 Images we are following best practice guidelines, as demonstrated by our sister company AutoTrader.com, giving consumers access to a clear visual understanding of what they’re investing in, as well as the option to read about all of a car’s specifications. The new 25 Images solution gives dealers the chance to further profile each of their cars and ensure their potential customers have the detail they need ahead of making a purchase.”

 *http://dealerlearningcenter.com/fef/photos_and_videos

See more

Nearly three quarters of consumers use three or more search websites when looking for their next car, says Motors.co.uk

by admin

12 06, 2016 | Posted in Statistics | 0 comments

The majority of UK car buyers are using several services to find their next car, according to new consumer research from Motors.co.uk. The company’s recent Car Buyer Survey 2016 revealed that nearly three quarters of consumers (72 per cent) used three or more car search websites to find their next car. When asked how many car search websites they used to find their current car, 52 per cent of respondents said between three and five and 20 per cent said they had used more than six, while less than a third (28.4 per cent) visited fewer than three websites before making their choice. The survey revealed that 74 per cent of respondents used multiple car search sites to ensure they had seen all the available cars matching their requirements in their local area. Consumers are also using multiple sites to compare prices elsewhere in the country, with 47 per cent of respondents admitting they use car search websites to find vehicles outside of their local area. The survey, which examined consumer attitudes to online car shopping, also found that 70 per cent of consumers would consider buying either new or used cars, further demonstrating the blurring of the lines between traditional new and used car buyers, a trend influenced by changing attitudes to car finance. Dermot Kelleher, Director of Marketing & Business Intelligence at Motors.co.uk, said: “This data overwhelmingly shows the importance of dealers having a presence across multiple car search websites. Each engagement with a dealer’s brand or stock will compound to help their decision making. “Thanks to our network partnerships with trusted and well-known sites such as Parkers.co.uk, Motoring.co.uk and RAC Cars, amongst many others, we are able to offer dealers the ability to put their vehicles in front of consumers at multiple touchpoints. “Our network offers dealers a gateway to the internet, with a variety of media brands targeted at different consumers, ensuring their vehicles are visible to millions of car buyers. “We encourage dealers to think about their advertising across the value chain. It is incredibly important to generate the initial exposure through multiple websites. “But it is also important that other elements, such as presentation, pricing and a fantastic sales experience, create a great customer experience with the dealer’s brand at every stage of the buying process – not just when consumers walk into the dealership.”

See more

Brexit has not affected car buying attitudes

by admin

09 21, 2016 | Posted in Statistics | 0 comments

UK car buyers do not believe the country’s decision to leave the European Union has affected when they will make their next purchase, according to new consumer research from Motors.co.uk. In the car search website’s 2016 Car Buyer Survey, three per cent of people said they have been discouraged from buying a car due to the referendum result in June. When asked if they had been discouraged from buying a car following the country’s vote to leave the EU, just three per cent of respondents agreed. The survey also found that one in 10 people believe the referendum result has affected the timing of when they will buy their next car, and only four per cent of respondents said they are worried about making their car finance payments following the result. “Understandably, there has been a lot of speculation about how June’s referendum result will affect the UK economy, and the automotive industry has been no exception. However, we are delighted to see that the prospect of Britain leaving the EU has not hindered the nation’s attitude to buying cars and this is great news for our dealers”, commented Dermot Kelleher, Director of Marketing & Business Intelligence at Motors.co.uk. He added: “The survey has underlined that consumers are primarily looking for value for their money and are ready to make a purchase if it’s a good deal for them. At Motors.co.uk we have developed our website to give consumers the choice they need to make the right decision for them, and we will continue to work closely with our dealers to provide them with the insights they need about their potential customers.”  

See more

Fuel prices free up motorists’ wallets and alter shopping habits, according to Motors.co.uk

by admin

03 18, 2016 | Posted in Statistics | 0 comments

As UK drivers enjoy a drop in fuel prices at the pumps, there’s been a subtle change to the nation’s car shopping habits. While monthly expenditure on fuel is falling, data from Motors.co.uk shows an increase in vehicle searches by monthly payment – with a 78% rise in searches by a monthly payment amount of £0-£300. And, with manufacturers offering countless deals for new cars within this price range, the reduced monthly spend on fuel is freeing up cash for consumers to upgrade their vehicle selection. From November 2015 to February 2016, total searches by monthly payment increased by 97% against an overall rise in visits to Motors.co.uk of 61%. This is according to data from the Motors.co.uk Smart Search functionality, which enables shoppers to search for vehicles based on the lifestyle criteria that matters to them. Peter Watts, director of dealer insight at Motors.co.uk, explains: “Over the past few months, we’ve seen fuel prices reach their lowest since 2009, with supermarkets slashing their prices to below £1 a litre. To put this into context, at its highest price point, we were paying over £1.42 a litre in April 2012 – that’s a saving of just over £25 for a 60 litre tank each time it’s filled up. Consumers are therefore making a significant saving each time they visit the pumps and, in some cases, this is freeing funds for spending elsewhere, such as on updating vehicles. “This is good news for dealerships, with sales teams able to work closely with customers in order to present the most appropriate finance solution for their circumstances. In some cases, this may mean being able to reallocate the saved fuel costs to trade up a price bracket. Add in more fuel efficient models and the fuel cost reduction could be even more compelling. “However, we must be mindful that the economic situation with regards to fuel is not a stable one and the drop in fuel prices is beginning to slow. Despite the Chancellor announcing a continued freeze in fuel duty in his recent budget, as oil prices steady slightly we could see an increase in fuel costs sooner rather than later. Dealers need to be quick to adapt and offer consumers advice on the finance and model options available to them and how this will impact their monthly and overall costs, regardless of the direction in which the economy may shift.”

See more

Motors.co.uk reveals results of consumer car buying journey study

by admin

03 18, 2016 | Posted in Statistics | 0 comments

To help increase sales and drive traffic to a dealership, understanding what makes car buyers tick and the route they take before making a purchase is vital. To achieve this, Motors.co.uk has released its latest insight into the consumer car buying journey. The findings from Motors.co.uk show that the most important source of research for consumers looking for a new or used vehicle is car search websites, followed by car review websites. Car dealership websites were ranked closely behind in third place. Recommendations are still a significant influencer on the car buying process, with over a quarter (28%) of people turning to friends and family for information. This reaffirms the importance of continued good customer service at a dealership, as word of mouth is still a powerful tool. Social media is another area not to overlook; with 11% of consumers using this channel to research their next car purchase, it links closely to dealer reputation. Previous insight from Motors.co.uk showed that 36% of people said whether they had heard of the dealer and whether it had been recommended by other car buyers was important – so for many, experiences and opinions shared on social media and through online reviews could be the deciding factor in a sale. Such insight highlights the importance of aligning the offline and online experience for consumers. Peter Watts, director of dealer insight at Motors.co.uk, explains: “Our data reaffirms that consumers will have conducted extensive research before they set foot in a dealership, so a dealer needs to bear this in mind when speaking to a customer in person. For all retailers, it is important to listen to the demands of their customer base and this will lead to an increase in trust and excellent customer service. “Interestingly, two of the UK’s top three ranked businesses for service in the recent report from the Institute of Customer Service are online organisations, Amazon and First Direct, with John Lewis knocked off the top spot and out of the top three for the first time in seven years. This demonstrates the power of online businesses and how consumers are valuing excellent customer service despite not having face-to-face contact with a brand. For the motor industry, which is operating both on and offline, this reiterates the importance of ensuring customers have a consistent, smooth transition between the two channels. “Reputation remains key and dealers who can align different elements of the consumer car buying journey and leave customers feeling happy and secure with their service will take the lead.”

See more

Motors.co.uk research reveals where car buyers will be shopping this year

by admin

02 11, 2016 | Posted in Statistics | 0 comments

Everyone would appreciate a crystal ball to provide an insight into the future, and the motor industry is no exception. Understanding how and where different types of car buyer will be shopping this year, and how to convert those not visiting dealerships into sales, is a top priority all round. Research from Motors.co.uk shows there is still a clear gender and generational divide among shoppers at dealerships, as traditional consumer perceptions of the industry remain. The latest insight from Motors.co.uk shows that, while the majority of car buyers consider using an independent (54%) or franchised dealership (50%), over a third (34%) would consider purchasing from a private seller. Interestingly, it’s men who are more likely to purchase a car from a franchised dealership. Women are more likely to buy from a private seller (39%) compared to men (30%), or an independent car dealership, 57% compared to 52% of men. Car buying is also a generational game. Those aged 35-54 are more likely to buy from an independent car dealership than any other source, while almost half (49%) of younger buyers, those aged 18-34, are willing to consider buying from a private seller. In fact, 18-34 year olds are almost twice as likely than those aged 45-54 (14% compared to 26%) to go down the private seller route. This research shows that there is a continued need to attract more women and younger buyers into dealerships and this will mean overcoming existing perceptions. Peter Watts, director of dealer insight at Motors.co.uk, said: “These findings reaffirm that many younger and female buyers still feel that dealerships can be daunting places which are the domain of older males experienced in purchasing cars. A sales team that reflects and can relate to its existing and growing consumer base across all demographics, along with targeted marketing activity, will help to alleviate these anxieties and dispel the myths associated with the showroom environment. “Our younger generation is going to be buying cars for years to come, so that first point of contact on the forecourt or in the showroom to the growing number of independent female consumers and younger millennials needs skills aligned to the way they research and shop online.” Watts added: “We would all like to see a greater number of buyers perusing forecourts and completing sales and there is a clear opportunity to make this a reality if we appeal more to female and young buyers.” Motors.co.uk carried out this research with more than 700 consumers across the UK to uncover the reasons behind their car buying decisions.

See more

Research from Motors.co.uk shows benefit of the softer sell

by admin

01 26, 2016 | Posted in Statistics | 0 comments

While price and choice remain the key considerations when it comes to consumer car buying decisions, the four ‘Rs’ of reputation, relationships, recommendations and rapport are still important. That’s the finding from the latest research from Motors.co.uk, which explores the buying habits of UK drivers. The research shows almost a third (30%) of consumers said having confidence in the dealer influenced them a great deal when making the decision where to buy their car from. In support of this, 36% of respondents said whether they had heard of the dealer and whether it had been recommended by other car buyers was important, and almost a fifth (18%) said whether they had a good rapport with the dealer was important. When asked what was the most desired improvement to the car buying experience, if you take the most obvious answer of price (17%) and choice (16%) out of the equation, honesty and confidence in the salesperson (15%) and improved customer service (12%) come out as the next most important factors. Peter Watts, director of dealer insight at Motors.co.uk, said: “Our research indicates that, on initial contact with the dealer, the consumer has already decided after hours of research that the vehicle they have selected will fit their lifestyle and financial requirements. Therefore, dealers can benefit by switching their focus to helping the customer validate their decision using soft skills in order to cement the sale. “Quick and simple measures, such as ensuring the timings for test drives suit the customer’s personal and work schedule and delivering an aligned online / offline experience, will further strengthen the consumer’s confidence in the salesperson, which helps to assist a more enjoyable purchasing journey.” Watts continued: “These findings highlight the importance of aligning the basics around price and choice with softer skills, making sure everyone within a dealership who is responsible for sales is also focused on delivering the very best customer service. The benefits of building a strong reputation should not be overlooked and securing solid customer recommendations is still key.” The research by Motors.co.uk was carried out with more than 700 consumers across the UK.  

See more

Motors.co.uk research sheds light on new vs used buyer behaviour

by admin

01 13, 2016 | Posted in Statistics | 0 comments

The latest research from Motors.co.uk shows that the traditional differences between new and used car buyers are being eroded. Whereas second-hand cars used to be the preserve of first-time drivers and those on constrained budgets, the growth in new car deals and monthly payment offers has blurred the lines. The research, carried out with more than 700 consumers across the UK, delved into the reasons behind buying decisions. Of those consumers who bought a new car, over a third (34%) of respondents chose new over used because of cheaper running costs and a quarter (25%) because of the headline discount offered. It shows that manufacturer marketing and dealer offers are working; consumers are buying into the affordability of new cars. When it comes to used car buyers, nearly two thirds (60%) would be influenced into buying a new car if there was a significant discount on the headline price. Of new car buyers, over a third (35%) were considering a used car, which highlights the scope for improving communication on used car portfolios when at the forecourt. This insight shows that if a dealer wants the buyer at their forecourt to consider both the new and used stock, then they need to communicate the running costs of all vehicles concisely and the discounts and finance packages available on used cars. Peter Watts, director of dealer insight at Motors.co.uk, said: “Our latest research gives us some important insight into the reasons behind current consumer buying trends. We all know that sales of new cars are on the rise but it’s important to understand the specific reasons behind these purchases if the end goal is to sell a mixed portfolio of new and used. “The franchised dealer needs to ensure they have the ideal used stock and availability of new inventory to capture the consumer’s enquiry and deliver on their requests. In addition, it is important to understand the need to be flexible around the delivery expectations of the customer and ensuring that stock positioning maximises the profit opportunity. “This time of year can be particularly challenging for forecourts as consumers focus on bad weather, so these findings are timely for helping to maximise sales across both new and used cars.”

See more