REASONS TO BE CHEERFUL PART 3

According to the latest data from Autotrader, after an initial dip following the Prime Minister's announcement that England would be entering its third national lockdown, consumer demand remains robust on its marketplace, with the new restrictions having little impact on buying intentions. Research conducted by the organisation further highlights the limited influence the recent measures are having on consumer buying intentions. Despite the tighter restrictions rolled out across the UK throughout November and December, an onsite survey conducted at the end of last month revealed that consumers' confidence in being able to afford their next car had reached a 2020 peak. In fact, 43% of on-site users said they were more confident than they were a year ago, and 50% felt about the same. Notably, the percentage of people saying they were less confident, was at its lowest level (7%) since the start of the pandemic. In a separate piece of research conducted in December, 35% of consumers said that owning a car is more important to them than it was before the pandemic, which is the highest it's been since we began asking the question in June 2020.