Auto Trader reports increase in new car views, and a meteoric rise for Honda’s e:NY1

  • Honda’s e:NY1 skyrocketed from 254th to 7th most in-demand new car, leading the electric vehicle market.
  • Auto Trader reports a 20% increase in advert views and a 21% rise in physical stock since January.
  • e:NY1’s popularity driven by significant discounts and finance offers, with new car discounts rising to 8.7%.

Auto Trader shares market insights, showing 20% rise in new car views, and a leap in popularity for the e:NY1

Honda’s electric SUV, the e:NY1, has skyrocketed from the 254th to 7th most in-demand new car in just a month. That means the e:NY1 now tops the list of new electric cars, accounting for over 10% of all EV leads sent to retailers, according to Auto Trader.

The surge in interest comes as Auto Trader reports a 20% year-on-year increase in new car advert views. Additionally, the platform has seen a 21% rise in physical stock since January, offering buyers more choices.

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Auto Trader’s New Car Performance Director, Bex Kennett, commented: 

“The new car market continues to face a challenging combination of new regulatory targets, increased competition, growing production, and softening retail sales. However, our data does offer some optimism as we approach the key plate change month of September. Manufacturers are working hard to stimulate demand, and we’re seeing consumers respond as a result.”

The e:NY1’s success marks the second time this year it has led the charts. Its rise is fueled by substantial discounts and attractive finance offers, highlighting the importance of affordability in driving consumer interest. Average discounts on new cars have increased from 6.6% to 8.7% over the past year, with EV discounts averaging 10.6%.

Despite recent disruptions like the general election and major sporting events, consumer interest in new cars remains strong. Visits to Auto Trader’s platform rose by 6% year-on-year in July.

Meanwhile, other brands are also making moves. BYD experienced a 33% increase in advert views during the EUROS, boosting its profile. However, BYD has yet to break into the top lists for enquiries. However, the boost does demonstrate how effective its tournament sponsorship proved to be. Thanks to consistent coverage, BYD is making its way into the public consciousness. 

The new car market faces challenges from regulatory targets, increased competition, and softening sales. Manufacturers are responding with better deals and more variety. Honda’s e:NY1 has emerged as a victor from this rocky moment in the marketplace.

Bex Kennett continued:

“It will be interesting to see what other tactics manufacturers deploy over the coming months to move the needle, as they try to balance volume with the increasing pressure of the looming ZEV Mandate requirements. More choice, better deals, and getting in front of more new car buyers will be key.”

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