DECEMBER 2021CIOAPPLICATIONSEUROPE.COM 19wice a year we produce the Auto Trader Market Report, our biannual review of the UK's new and used car markets and how consumer buying and selling behaviours are changing, based on data from our marketplace of 55 million views a month. In the latest edition, we considered what's in store for car retailing ­ in the UK and more broadly - and how we must adapt as an industry to capitalise on future opportunities and make the industry work better for all involved. It's an interesting time for the automotive industry right now, and some are feeling the pressure. Although slightly buoyed by the outcome of the recent UK General Election, Brexit-related uncertainty continues to hamper consumer confidence. Both new and used car transactions in the UK remain depressed according to the Society of Motor Manufacturers and Traders (SMMT), with used car transactions falling by -0.8 per cent during the period January to September 2019, and new car registrations are down too, by -2.7 per cent year-to-date. What's more, emissions legislation has caused supply issues. Manufacturers are having to spend enormous amounts on R&D for electric vehicles (EVs). And retailers are experiencing margin pressure from rising labour, property and tax costs as well as facing challenges from manufacturers looking to evolve their network strategies. If that wasn't enough there's increased scrutiny from the Financial Conduct Authority (FCA) around automotive finance. It doesn't paint a particularly rosy picture. However, there remain pockets of growth. For example, SUVs have grown significantly in popularity, increasing sales by 279 per cent in 2018 compared with 2009 and accounting for a third of UK car sales today. And demand for EVs is growing rapidly too, with searches on our site increasing 73 per cent since November 2018. What's more, this year the UK's fastest selling used car was the Renault ZOE ­ the first time a pure electric vehicle has topped the annual list. We continue to believe these demand stimuli will drive long-term growth as the macroeconomic backdrop recovers. What's more, the more Why Human Interaction is Important for Automotive Industry?cXoinsightsTIAN PLUMMER, FORMER-COMMERCIAL DIRECTOR, AUTO TRADER
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