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, September 13, 930 dealer connections were recorded via PriceMyCar. That translated into a 0.6% decline on the week prior, the equivalent of 6 fewer inbound enquiries across the week.
Consumer confidence unexpectedly surged last week, with the index leaping 18% month-over-month in September after a 9.5% fall in August. Expectations around economic conditions and personal finances showed strong signs of improvement, which were likely fuelled by the quashing of COVID cases in Melbourne amid stage four lockdown, and aggressive suppression elsewhere around the country.
New car interest by brand
Building on its strong run of form, Ford jumped into pole position among the most sought-after brands last week. Having regularly recorded an increasing number of leads in recent weeks, the oval brand leapfrogged Mazda following a 7.3% increase in dealer connections.
Interest waned in Toyota and Mitsubishi, however, there was a pick-up in terms of activity for the likes of Hyundai and Kia. Another brand that has seen a relatively large and consistent increase in interest over recent weeks is Isuzu, with the brand seemingly trending at its highest-ever levels among new car buyers.
There was also a notable spike in traditional low-volume manufacturer M.G, which saw 16 enquiries last week after normally chalking up low single-digit figures.
|
Prospective New Car Buyer Numbers |
Sep 7 – Sep 13 |
Aug 31 – Sep 6 |
% Change in Enquiries |
|
103 |
96 |
7.3% |
|
|
93 |
99 |
-6.1% |
|
|
88 |
79 |
11.4% |
|
|
66 |
65 |
1.5% |
|
|
65 |
74 |
-12.2% |
|
|
64 |
67 |
-4.5% |
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