"Amid cautious buying behaviour, Manheim Auction Services has observed favourable responses in its supply and demand wholesale indexes. However, first-time conversion rates are on a slight decline as trade values adjust in anticipation of pre-pandemic seasonal patterns.
"The new car market enters its second year of growth with a significant sign of a 'push' market, as August registrations surge by 24.4% despite it being a low-volume month. All eyes are on September, which holds the key to determining the industry's performance for 2023.
"With OEMs re-entering the fleet market and offering increased incentives to stimulate sales amid production recovery, Auto Trader's used market health indicators show a positive trend compared to the previous year, whilst Dealer Auction retail margin holds firm.
"As OEMs reengage with the fleet market and ramp up incentives to drive sales during the production recovery, Auto Trader's used market health indicators demonstrate a positive trend compared to the previous year."
Philip Nothard, Insight & Strategy Director
Retail and production
New LCV registrations
23,962 (Jan '24, +8.4% YOY)
23,962 ('24 YTD, +8.4 % YTD)
The number of new LCVs registered in the UK each month.