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
New car enquiries in the week ending Sunday, September 12 were down 4% on the week prior, declining from 1,430 to a total of 1,373.
During the week, the Reserve Bank of Australia decided to maintain interest rates, a move that was widely expected. In theory, this should prove a tailwind for lending activity, however, with lockdowns still in effect, new car buying sentiment isn’t particularly shifting at the moment.
That comes even as New South Wales spelled out its reopening plans, which may not have driven any initial uptick in sentiment, but could signal a shift in activity ahead once things begin to re-open in mid-October.
New car interest by brand
Kia was the biggest mover in the week ending September 12th, with new car enquiries up by more than one-third from 120 to 161. That put the Korean company in second position among the most sought-after brands via the PriceMyCar platform, closer to its long-term ranking.
Interest in the likes of Isuzu, Ford and Mazda was broadly in line with the preceding seven-day period, with these brands still representing the bulk of vehicles that new car buyers are keen to step into.
On the other end of the scale, interest in Mitsubishi fell over the week, down 27.8%, yet the brand still held its place in the top five makes of vehicle among the PriceMyCar community.
|
Prospective New Car Buyer Numbers |
Sep 6 – Sep 12 |
Aug 30 – Sep 5 |
% Change in Enquiries |
|
170 |
163 |
4.3% |
|
|
161 |
120 |
34.2% |
|
|
151 |
162 |
-6.8% |
|
|
151 |
148 |
2.0% |
|
|
96 |
133 |
-27.8% |
|
|
74 |
51 |
45.1% |
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