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, May 31, there were 1,356 dealer connections made through the PriceMyCar platform.
The number of enquiries last week fell 9.2% compared with the week prior, however, the total number of connections coming through remain at elevated levels. In fact, they are still on par or even above where they were prior to COVID-19.
The RBA has flagged that it expects the employment market to continue to deteriorate before it gets better. In addition, the September end-date for JobKeeper has also been signalled as a watch-point. Nonetheless, Australians have been spending more on fuel in recent weeks, suggesting car use is on the rise again.
New car interest by brand
After a strong showing in recent weeks, interest cooled in some of the market’s most popular automotive brands. Kia, Mazda, Ford, Hyundai and Mitsubishi all saw a modest drop in terms of inbound customer queries.
Despite this drop, other manufacturers managed to claw back some attention. This included Honda, Subaru, Volkswagen and to a lesser extent, market leader Toyota.
Luxury car makers continue to hold ground, with Audi, BMW, Land Rover and Porsche all faring well, albeit at the expense of Mercedes-Benz.
|
Prospective New Car Buyer Numbers |
May 25 - May 31 |
May 18 - May 24 |
% Change in Enquiries |
|
150 |
168 |
-10.7% |
|
|
129 |
152 |
-15.1% |
|
|
109 |
122 |
-10.7% |
|
|
107 |
95 |
12.6% |
|
|
99 |
96 |
3.1% |
|
|
95 |
116 |
-18.1% |
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