Customers take on average 87 days before deciding, making early engagement with potential buyers essential for driving January sales.
Additionally, recent research has shown 85% of in-market buyers are at least as confident as last year in being able to afford their next car.
Seasonal pricing trends are holding strong so far in December, and with typical average month-on-month price movements of +0.2% from December to January and +0.4% from January to February, pricing is expected to be robust in the coming months.
Strategic stock management, including the use of future valuations data, is key during these crucial periods to stay ahead of market fluctuations.
Retail pricing data shows a £26.5 million profit opportunity on underpriced vehicles with high Retail Ratings, which are attractive and likely to sell quickly, according to research carried out by Auto Trader.
The total profit potential figure of underpriced vehicles stands at £109 million, highlighting the opportunity available to follow Retail Pricing trends and to achieve more margin in the New Year.
Auto Trader shares three key steps retailers can take before Christmas to drive a quick start in January: engaging with buyers now to create a January sales pipeline; uploading all available stock and focusing on high quality advertising and using pricing tools regularly to review strategies and capitalise on profit opportunities.
Commenting on the findings, Richard Walker, Auto Trader’s data and insight director commented: “The good news is all the research and insights we’ve shared in recent months highlight the opportunities available to retailers who can fully harness the data available to them to ensure they thrive in 2025. From pricing cars from retail pricing data to maximise commercial opportunities, to sourcing the best vehicles for individual markets using demand and supply data, following the data can lead to additional profit.”