Dealers should maintain a focus on used cars during the September plate change as searches for part-exchange values increase in the preceding weeks.
Data from Honchō shows that in both August and September there was a 57% rise in searches for the term “part-exchange” since 2015.
It also advises dealers to retain some of their marketing spend on new cars until the end of the month to capture customers looking for a deal.
Syed Ali, Honchō’s head of performance, said: “The starting point for many car purchases is obtaining an online part-exchange value, with customers then looking at new and used offers.
“However, in September the temptation for dealers is to concentrate exclusively on marketing new cars to hit their sales targets.
“Consequently many are missing an opportunity to also engage with in-market buyers, prompted by the plate-change, who will end up buying used if they find the right deal.
“Dealers need to take a holistic view by encouraging their used car departments to also promote their special offers. Dealers cannot afford to ignore used car sales in September.
Some car buyers hold back on the temptation to buy as soon as the new plate has been launched. Therefore, retailers must adjust their marketing strategies to fit these buying patterns.
Ali said: “So instead of going all guns blazing in the opening weeks of the month, shift some of the budget to the last week when they also have a clearer idea of how their Q3 sales targets are looking.”