Weekly Dealer Car Enquiries – Sunday July 19

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, July 19, PriceMyCar recorded 862 dealer connections.

For the second week running, the volume of dealer connections has maintained some stability after dropping on the back of weaker consumer sentiment.

While interest rates remain at record lows, and more car dealers are looking to do bargains than your typical post-EOFY period, new car buying interest has been restrained by the prevailing economic uncertainty hanging over the environment.

In particular, the rising trend of COVID cases in Melbourne, despite Stage 3 lockdown measures in effect, as well as various outbreaks across Sydney, have weighed on the minds of prospective new car buyers. Last week also saw the unemployment rate nudge higher, even as approximately 200,000 jobs were added to the economy. This is due to the fact that more individuals began actively looking for work, suggesting more people may be feeling the squeeze or even re-entering the workforce.

 

200719 - leads graph

New car interest by brand

Faring better than the rest last week were Ford, Hyundai, Kia, Mazda, Mitsubishi and Volkswagen, each of which recorded a week-on-week increase in interest among prospective new car buyers. In particular, Ford and Kia have remained surprisingly popular among new car buyers, particularly in light of the popularity of SUVs, where monthly sales are coming predominantly from other brands.

Despite receiving strong interest in recent weeks, particularly in the lead-up to EOFY, there was subdued enquiries for high-end car brands such as Audi, BMW, Mercedes-Benz and Volvo throughout the week.

Prospective New Car Buyer Numbers

Jul 13 – Jul 19

Jul 6 – Jul 12

% Change in Enquiries

Kia

102

81

25.9%

Mazda

82

72

13.9%

Ford

69

61

13.1%

Toyota

64

67

-4.5%

Hyundai

63

49

28.6%

Subaru

62

65

-4.6%

 

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