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 27, there were a total of 992 dealer connections made across the PriceMyCar community. With an additional 44 inbound enquiries, this represented a 4.6% rise in new car buying interest.
As the economy begins to show signs of gradual improvement, and with COVID cases seemingly suppressed in most locations across the country, consumer sentiment and confidence continues to tick up. This is expected to flow through to purchasing activity including new cars, so the signs we have seen of late bode well for the ‘bottom’ in new car buying interest.
New car interest by brand
Most of the leading car brands were on the rise last week among new car buyers, with enquiries for the likes of Mazda, Kia, Honda and Volkswagen all faring well. Honda’s result in particular was one of its strongest this year, creeping into fourth position, and only a fraction behind Ford, which has done well in recent weeks.
BMW also recorded a spike in interest last week, which further reinforces the trend among luxury manufacturers who have remained increasingly resilient amid the economic downturn.
A sharp decline in interest for Volvo vehicles saw the brand drop from a lofty result the week prior.
|
Prospective New Car Buyer Numbers |
Sep 21 – Sep 27 |
Sep 14 – Sep 20 |
% Change in Enquiries |
|
117 |
105 |
11.4% |
|
|
97 |
90 |
7.8% |
|
|
83 |
92 |
-9.8% |
|
|
82 |
57 |
43.9% |
|
|
79 |
81 |
-2.5% |
|
|
61 |
52 |
17.3% |
To get FREE access to instant pricing on just about every new car make and model, plus guaranteed discounts, sign up today
