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 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 9, we witnessed 763 dealer connections through the PriceMyCar platform. It was the first week in some time where we observed a meaningful increase in the week-on-week numbers, with the number up 9.8%.
Considering the state of the Victorian market, where new car dealerships are closed across Melbourne to customers and only online sales are available, the result is somewhat better than it might appear. Nonetheless, it is clear that consumer sentiment has been struck a big blow, which is understandable given the border restrictions that remain in place across other states and have effectively crippled tourism businesses among others.
New car interest by brand
It was a case of mixed fortunes for many of the industry’s leading brands, with some benefitting and others taking a hit in terms of inbound buying interest.
The luxury car segment once again fared well, defying macroeconomic concerns. Brands such as Audi, BMW and Mercedes-Benz all posted a small to moderate increase in dealer connections. Meanwhile, ‘trusty reliables’ such as Ford, Honda, Mazda, Nissan and Toyota were all in hot demand too.
Perhaps surprisingly, Kia and Mitsubishi defied the trend that had shown some favour towards more affordable brands. There was a sharp drop in new car buying interest for these brands over the week, with Kia slipping down the list a spot and only just clinging onto third position as the most sought-after brand.
|
Prospective New Car Buyer Numbers |
Aug 3 – Aug 9 |
Jul 27 – Aug 2 |
% Change in Enquiries |
|
87 |
84 |
3.6% |
|
|
71 |
57 |
24.6% |
|
|
61 |
80 |
-23.8% |
|
|
59 |
46 |
28.3% |
|
|
48 |
43 |
11.6% |
|
|
48 |
52 |
-7.7% |
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