UK-based on-line automotive market Carwow has forecasted a powerful first quarter for the used automotive market in 2025.
The corporate reported a 49% enhance in used automotive enquiries via its platform within the final quarter of 2024 in contrast with the identical interval in 2023.
This pattern signifies a sustained demand for used automobiles within the coming months.
Carwow mentioned the surge in used automotive enquiries was accompanied by a 12% rise in new automotive configurations and a 14% progress in total visits to Carwow throughout the “Twixmas” interval between Christmas and New 12 months.
On 27 December alone, greater than 750 vehicles had been listed in Carwow’s on-line auctions, highlighting client curiosity in automotive transactions.
A Carwow survey revealed that 30% of automotive patrons are actually extra inclined to buy used vehicles moderately than new ones.
Regardless of a slight predicted enhance in new automotive registration volumes, challenges within the new automotive market are anticipated to persist.
That is partly resulting from ongoing efforts by unique tools producers (OEMs) to stimulate demand for electrical automobiles (EVs).
Carwow suggested its supplier companions to replenish forecourts and promote inventory successfully to capitalise on the heightened car-changing exercise.
The expansion in used automotive enquiries aligns with a broader pattern of accelerating customer numbers on Carwow’s platform, which noticed a 23% year-on-year rise in 2024.
Carwow chief buyer and advertising and marketing officer Ben Carter mentioned: “Our knowledge exhibits that the New 12 months usually triggers car-changing analysis for a lot of shoppers. Retailers can maximise their probabilities of success through the use of Carwow to accumulate used inventory, which they will then promote to hundreds of thousands of shoppers to drive gross sales on each Carwow and Auto Specific.
“Throughout the Carwow Group, we attracted nearly 200 million guests throughout 2024, with guests to Carwow alone up by almost 1 / 4 on the earlier yr. We’re the one-stop store for car-changing shoppers to analysis, promote and discover their subsequent automotive, so retailers sourcing and advertising and marketing their inventory with us are already one step forward of the competitors.”
In October 2024, Carwow acquired Gridserve Automotive Leasing from British EV charging firm Gridserve, as a part of its technique to reinforce its presence within the on-line automotive market.
This acquisition targeted on increasing EV lease offers and marked Carwow’s second important enterprise transfer final yr, following its buy of Autovia, an automotive content material and commerce media firm.
Carwow Group’s acquisition of Autovia introduced established titles akin to Auto Specific and Carbuyer into its portfolio.
“Carwow predicts robust demand in used automotive marketplace for early 2025” was initially created and revealed by Motor Finance On-line, a GlobalData owned model.
