The new car market’s strong momentum can be attributed to intensifying competition, greater choice and offers across a widening range of models, according to Autotrader.
Traffic to its new car platform in October is level year-on-year (YoY). Consumer car buying demand has remained stable in line with seasonal expectations.
Bex Kennett, head of new car at Autotrader, said: “The fact that consumer engagement has held firm immediately after such a strong September plate change is an encouraging sign of genuine momentum heading into the closing months of the year. Intense competition is giving buyers greater choice and attractive offers across widening range of brands and models, reinforcing our upgraded full-year forecast.
“However, maintaining this trajectory requires a balanced regulatory approach. Long-term clarity through the 2030 and 2035 phase-out dates remain vital for industry investment, but the significant increases required in the intervening years will become increasingly challenging against the current economic and geopolitical backdrop.
“Pragmatic flexibility in the near-term ZEV Mandate trajectory would help manufacturers remain on course, while continuing to deliver meaningful reductions in carbon emissions from road transport.”
The volume of new cars advertised on Autotrader in October is 13% higher than a year ago.
Aerage advertised discounts remain substantial at 10.2% across all fuel types and 10.1% for electric cars.
October marked the first time electric cars accounted for more than a third (33.8%) of all new car enquiries on Autotrader.
BMW leads new electric brand interest, capturing 9.4% of all electric enquiries while BYD holds second spot (6.2%), followed by Hyundai (5.8%) and Kia (5.6%).
At model-level, the premium BMW iX3 leads new electric enquiries in October so far (4.7%), followed by the Renault 5 E-Tech (4.4%) and the Cupra Raval (3.8%).
Established manufacturers continue to take the largest overall share, led by BMW (9.8%), Land Rover (7.9%), and Volkswagen (6.7%).
Growing enquiry shares achieved by challenger brands, such as Jaecoo (5.2%) and Chery (4%), reflect the impact of widening brand choice.
