Auto Pulse: Signs of growing market optimism?

Despite the measures, housebound online car shopping in mid-April on carsales remained solid, and signs of greater market optimism began to emerge.

It was an Easter long weekend like no other in living memory, with Australians across the country heeding government appeals and restrictions, and staying home. Despite the measures, housebound online car shopping in mid-April on carsales remained solid, and signs of greater market optimism began to emerge.

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In the week to April 16, 2020, carsales served 5.2 million sessions, an increase of 4% over the previous week. Over 61.4m searches were conducted, an increase of 11.4% over the previous week, while buyers executed over 13.2m detailed views, up 11.1% on the previous week.1

In an onsite carsales survey of 1816 people on April 16, 2020, 53.4% of respondents indicated that they were looking to buy within the next month, (up 14% since the same survey conducted between April 1-2), with 18.6% looking to buy right now.2


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Source:
1. carsales internal data, April 3-9, 2020 compared to April 10-16, 2020
2. carsales.com.au onsite pop up survey, April 16, 2020 (n=1,816)