Weekly Dealer Car Enquiries: November 13, 2022

In this series, which we aim to bring to you every week, 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, November 13, 2022, the total volume of new car enquiries lodged via the PriceMyCar platform was 1,155. Compared with the week prior, ending Sunday, November 6, 2022, the result was a decrease of 3.1%.

Unexpectedly, consumer confidence rose last week by 2.7%, although in the context of the last six weeks, where it has declined by more than 10%, the rebound was minimal in the grand scheme of things. Nonetheless, the turnaround came as lower than expected inflation data in the US sparked a rally across global equities, fueling bets the Federal Reserve may not have to increase interest rates as high as anticipated.

Naturally, any ramifications for the US economy also tend to flow through to Australia and local consumers, so these developments were important. At the same time, the Deputy Governor of the Reserve Bank of Australia, Michele Bullock, hinted that the nation’s central bank could be prepared to press pause on its own monetary tightening campaign.

New car interest by brand

Among the major brands, the frontrunners went in opposite directions last week, with Kia building its lead over Ford, which recorded a pull-back in the volume of price requests. 

Elsewhere, Hyundai’s promising week was enough to lift it from fifth position into third place, gaining an advantage over the likes of Mazda and Mitsubishi.

Nissan and Subaru also had a comparatively successful week, increasing their appeal to PriceMyCar members, although it appears this may have come at the expense of names like Isuzu and Volkswagen, where interest subsided.

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