In this series, which we hope to bring to you on a regular basis, we’ll be detailing some of the key numbers and trends that we’re seeing in terms of dealer connections made through our site.
As this data is considered somewhat representative of broader industry activity, and serves as one of the more insightful leading indicators for potential car sales, we hope it will fulfil a few purposes for our broad audience. First, to document not just how we’re performing as a business, but how dealers and the wider market stand to perform, so you don’t have to wait til that next set of official sales data.
Without further ado, here’s what happened over the last week.
Total new car enquiries
In the week ending Sunday, August 22, there were 1,185 dealer connections. This number represents a decline of 7.4% against the prior week during which 1,280 new car enquiries took place. Total new car queries now seem to be fluctuating in a modest band, still at relative lows compared with what has taken place since the start of the pandemic.
The impact of the delta variant spreading further in both Victoria and New South Wales has tempered sentiment, largely due to the fact restrictions have continued to be tightened amid the swelling outbreaks.
Although positive unemployment data last week may have given rise to some optimism, the particulars of the data presents a different story. Namely, while unemployment surprised as it dipped to a 12-year low of 4.6%, this was largely fuelled by a number of workers stepping out of the job market and no longer looking for work. The lower participation rate is something that could stifle demand for larger purchases, including new cars.
New car interest by brand
With interest in Kia stumbling last week, the brand fell down the list of the most sought-after brands. It wasn’t alone, however, with other names such as Volkswagen, Subaru and Hyundai recording a noteworthy fall, while some brands posted a moderate easing in terms of dealer connections.
Among the few car brands that have seen an uptick in buying interest, Mazda and Mitsubishi were the ones with the highest numbers, but MG and Jeep were among the major movers as far as the percentage increase in leads compared with the week prior.
|
Prospective New Car Buyer Numbers |
Aug 16 – Aug 22 |
Aug 9 – Aug 15 |
% Change in Enquiries |
|
160 |
161 |
-0.6% |
|
|
130 |
137 |
-5.1% |
|
|
127 |
113 |
12.4% |
|
|
101 |
95 |
6.3% |
|
|
94 |
127 |
-26.0% |
|
|
67 |
87 |
-23.0% |
To get FREE access to instant pricing on just about every new car make and model, plus guaranteed discounts, sign up today
