Schedule your personalized appointment today. Auto Trader is most trusted automotive marketplace. Use | Privacy Policy. Click and Collect makes their stock appear available at any of their sites nationally, again making it clear to a buyer that the vehicle is located at another site in the group but can be moved to their local site. From desire, to research, to decision - Auto Trader makes the consumer journey easier. Interest costs on the Groups RCF totalled 2.9m (2020: 6.3m). We would encourage all retailers to update the details that appear on their FPA including any delivery charges or calling out that delivery in a certain radius or area is free. The 625 decrease was heavily impacted by the COVID-19 related discounts previously mentioned. The decrease was primarily due to lower overhead costs, including lower travel and office related costs. Different perspectives, different cultures, different ways of thinkingthese ingredients help foster a culture where listening, feeling safe and belonging are valued. Auto Trader said the propensity for long distance buying was further highlighted by separate research conducted in May, which revealed that 46% of consumers are currently willing to buy from a retailer based over 50 miles away. The marketplace also hosts the largest pool of vehicle sellers (listing more than 485,000 cars each day) thanks to its partnership with more than 13,300 retailers. The Group tax charge of 28.3m (H1 2021: 12.4m) represents an effective tax rate of 18.9% (H1 2021: 18.7%) in line with the average standard UK rate. Each advert features a good, great, fair, high, and low price indicator, dealer reviews and the ability to perform a free basic vehicle check. This site is funded and maintained by Fintel.io. By continuing to use this site, we'll assume that you agree to cookie usage on this website. Forexample, 73%of shoppers surveyed are more likely to consider a vehicle not at a local dealership if it has a 360-degree spin view. Launched our Guaranteed Part-Exchange (GPX) and Instant Offer products. Listings with Cox Automotive Digital Retailing reach an average of, Sales from Cox Automotive Digital Retailing leads result in. Cash generated from operations decreased to 152.9m (2020: 265.5m) as a result of the reduction in Operating profit. This is part of what wed like to understand as a result of the test. As the UK emerged from the most recent national lockdown in June 2021, demand for both new and used cars has been particularly strong. We will not reply to questions on your application status; please log in to your profile to see the latest updates. Capture in-market service shoppers and more fixed ops revenue. Corporation tax payments increased to 27.8m (H1 2021: 18.0m). Terms of
This test allows us to understand what consumers are looking for. Auto Trader is a 100% digital business. A smoother buying process for the customer ultimately drives more sales and higher profits for you. On 24th March, Auto Trader listed on the London Stock Exchange. 
This decrease results from the Operating profit performance, partially offset by a reduction in net finance costs of 3.8m (2020: 7.4m). 360-degree spin images from SnapLot 360 in your Autotrader Market Extension listings. The company's rich history gives it nearly 40 years of brand heritage and trust - unusual among online companies. You can think of this as an organic home delivery solution, allowing retailers to advertise the home delivery service they offer to buyers already looking at their adverts. Hear from our employees, get career advice and learn how we're innovating. Profit before taxation increased by 127% to 150.0m (H1 2021: 66.2m). Karolina Edwards-Smajda, director of commercial products at Auto Trader, said: As online retailing becomes ever more prevalent and consumer confidence grows, the geographical distance between buyers and sellers is set to become less relevant. The company acquired AutoConvert, a finance, insurance and compliance software platform with an integrated customer relationship management system. This is new functionality for our site, and a relatively new customer need, so we want to ensure we test this fully with consumers and our retail partners prior to full launch. The test is running to 5% of audience for less than two weeks, we will review all the learnings from the test alongside more qualitative data from consumer research and may run further tests to fully understand the right next steps. Every retailer customer receives monthly performance dashboard analytics and has access to a Market Insight tool to help them assess their performance, and free access to best practice events. Basic earnings per share increased by 126% to 12.63 pence (H1 2021 5.58 pence) based on a weighted average number of ordinary shares in issue of 963,162,476 (H1 2021: 964,532,317). vehicle, especially when it is outside their local area. The interim dividend will be paid on 28 January 2022 to members on the register on 7 January 2022. The pages created by the user or by XWiki extensions on behalf of the user. The audience is not only large but highly engaged with a 75% share of minutes spent across automotive platforms. Began disposing of the parts of our business that addressed non-UK markets. New car registrations, whilst seeing year on year growth of 17% versus H1 2021, were still 23% below H1 2020 levels as semi-conductor shortages impacted the supply of new cars. GPX enables the consumer to get a guaranteed price for their part-exchange, while Instant Offer enables private sellers to sell their car at a guaranteed price. Please leave a comment, Scope of post-COVID car buying searches extend 25% further. COVID-19 related discounts: The impact of discounts provided to support customers during the various lockdown periods contributed a decline of 712 to total ARPR (2020: 0). Auto Trader has over 90% prompted brand awareness with consumers and attracts over 50 million cross platform visits each month. The company had a reasonable decline in the first quarter, but subsequently saw a steady increase in the number of retailers advertising on its platform since June 2020. The average number of retailer forecourts advertising on its platforms was broadly flat at 13,336 (2020: 13,345). The company use its own data management platform (DMP) to create highly targeted audience segments for advertising and give manufacturers a compelling proposition to reach new car buyers. The Group tax charge of 29.6m (2020: 46.4m) represents an effective tax rate of 19% (2020: 18%). Retailer revenue increased by 94% to 183.3m (H1 2021: 94.5m). Consumers are becoming more interested in the idea of Home Delivery and the recent lockdowns mean the appetite for car purchases without a forecourt may have accelerated. People costs, which comprise all staff costs and third-party contractor costs, increased by 8% to 60.0m (2020: 55.8m). Marketing spend increased by 203% in H1 2022 to 10.6m (H1 2021: 3.5m) as discretionary spend was reduced in response to the pandemic in H1 2021 but has since resumed. With more retailers adapting to the changing expectations of car buyers, such as offering money back guarantees and extended warranties, car buyers are becoming increasingly comfortable with buying from further afield, Auto Trader said. Thats how we power whats next. This is a model that we aim to bring to our platform, presenting buyers with more relevant stock and enabling our retailer partners to extend their sales reach beyond their physical locations and remove the need for this stock to be tied to one location, opening up new sales opportunities and new buyer markets for that stock. Theyll get the buying experience they want, and youll get better leads and higher profits. Much of the increase came from COVID related discounts which were offered to customers in the prior year and due to their absence in 2022 contributed 640 of growth. Created a joint venture with Cox Automotive, Dealer Auction, to provide an innovative digital marketplace for wholesale vehicles.
Have we seen any behaviour that would suggest home delivery is generating more response for retailers?
Were testing the impact of consumers including and excluding home delivery options from their search. These constraints have also impacted used cars, particularly for its larger customers, as lower new car sales have meant fewer part-exchanges and a lower volume of cars sent to auction from wholesalers. Cox is an Equal Employment Opportunity employer. We dont charge for the Home Delivery flag you can update this information at any time in portal and this would ensure you appear in relevant searches that select the Home Delivery only filter. Market Extension still allows you the unique opportunity to extend your market reach anywhere in the UK in our default search. Whether youre already focusing on outside markets or want to break into new ones, Market Extension is a car listing enhancement that literally delivers. Other costs, which include data services, property related costs and other overheads, decreased by 17% to 27.9m (2020: 33.6m). The product has two different but complementary options: The home delivery component will enable retailers to specify postcode areas they are willing to deliver to and their stock then appears in search to buyers in those areas, clearly marked as being available for home delivery. Reach more shoppers with digital display ads. Online retailing has long set the bar for seamless retailing, taking John Lewis as an example, when shopping online, buyers are presented with simple options for the item to be collected in store, delivered for collection from a store near them if out of stock locally, or delivered to their home. With a return to more normal levels in 2022, total costs increased by 29% to 65.4m (H1 2021: 50.8m), which was a 15% increase versus H1 2020. If you follow a company closely and would like to share your knowledge, we would love your contributions. Many buyers still want to shop locally and visit their local dealership, which we already enable through our platform and will further enhance with our new Top Spot offering. If you are on the Market Extension Home Delivery product you will continue to appear in all relevant searches excluding the protection of local searches radius. Market Extension vehicles will not currently appear if a buyer conducts a hyper local search to ensure were best serving buyer needs as well as retailers. This increase was partly driven by the acquisition of AutoConvert in July 2020 accounting for an increase of 18. SnapLot 360 allows you to easily create an immersive digital experience that todays modern buyer demands
Average Revenue Per Retailer (ARPR) increased by 82% to 2,199 (H1 2021: 1,206). Application Load Balancer in AWS, 14 Questions With Ron Calderon, QA Analyst II at Cox Automotive, EEO is the Law Supplement (Cox Enterprises & Cox Automotive), EEO is the Law Supplement (Cox Communications), Remote - New Jersey - Northern Region + 1 other location. This field is for validation purposes and should be left unchanged. Media House, Lynch Wood, Peterborough, PE2 6EA - Registered number01176085, AM magazine: Newspress Awards' Automotive Business Publication of the Year 2020, Apprenticeship levy: car dealer resources, Manufacturer insight - new car sales figures, The ID50 2019 the UK's 50 biggest independent dealers, Car dealership sites are set to undergo a major transformation over the next decade, Click here for used car best practice and procurement insight, COVID impact sees Auto Trader profits decline 38% in 2020/21, Accessibility and cost to dictate future of car showrooms, May used car sales volumes 14% up on 2019, says Auto Trader, Honda reveals 2023 Civic Type R (gallery), Car dealers advised to balance staff bonuses in response to soaring inflation, BCA consults Derby, Peterborough and Sandwich staff over planned restructure, EV battery health must join mileage and age as key used car valuation metric, Demand for fast-selling used cars drives 8.8% price growth at BCA auctions, GardX announce new 5-year strategy Ignite and new corporate structure, Eden Motor Group raise over 30k for charities and communities, How workshops might adapt to electric vehicle repairs and services, ASE's professional services arm sold to Armstrong Watson, Six in 10 car repairers expect to raise prices to restore profitability, Bentley Bentayga 142,000 refund case could set significant precedent, Nissan accused of 'cloak and dagger' tactics to axe over 20 car dealerships, Jaguar Land Rover to introduce car retail agency model by 2024, Car showrooms might widen their scope to find new revenue streams, Indirect expenses threaten dealer profits, Have you noticed fuel economy rise in used car buyers' priorities this year? Much of this product growth was a result of its annual pricing event underpinned by three products: an upgraded Performance Dashboard, Retail Check and a new Market Insight tool. Profit before taxation decreased by 37% to 157.4m (2020: 251.5m). Net finance costs decreased to 1.7m (H1 2021: 2.3m). Diluted earnings per share of 12.61 pence (H1 2021: 5.55 pence) increased by 127%, based on 965,070,560 shares (H1 2021: 969,927,775) which takes into account the dilutive impact of outstanding share awards. The company's platform offers consumers an unparalleled selection of new and used car listings, enabling them to search from a marketplace of 485,000 cars including 47,000 new cars each month. Were likely to include click & collect options into the next test once that functionality is ready. 2021 vAuto Inc. All Rights Reserved. We have over 3,000 retailers who have added Home Delivery as a flag on their adverts and were keen to explore further the consumer appetite for seeing vehicles that offer home delivery as well as those who want to exclude home delivery as an option and focus on local physical search. In 2013, the company successfully completed the transition from a print title and became a fully digital marketplace. Interest paid on these financing arrangements was 3.0m (2020: 6.4m). You can virtually sell to shoppers anywhere you like and even send your inventory directly to their door. Other retailers who have flagged that they offer home delivery will only appear in searches as they do today based on their physical location, with delivery shown as an option in their advert view only. This demand has been fuelled by a catch up in transactions that didnt happen in 2020 due to COVIDrelated lockdowns, increased consumer interest in car ownership and good levels of consumer confidence. This test will be live for a period of two weeks. The company aim to build stronger partnerships with its customers, use its voice and influence to drive more environmentally friendly vehicle choices and create an inclusive and more diverse culture. The Group made the decision to reduce costs, mainly through the reduction of discretionary marketing spend, which led to total costs decreasing by 8% to 104.0m (2020: 113.2m). Deliver the experience car buyers want while getting the results you need with vehicle listing enhancements on KBB.com and Autotrader. By Karolina Edwards-Smajda, Commercial Product Director, Auto Trader. Our application system is in the process of being updated so your response to that question, if present, will not be considered in the job selection process. Auto Trader found that during the latest national lockdowns when physical forecourts were closed, the average distance spiked to 60 miles. As weather cools off from the heat of latesummer, the above partnershipand its effortsto merchandise and market vehicles outside dealers' market areasmay offset what the company shared is also a "cooldown" in consumer demand, as well. A better comparison is that of two years ago, against which revenue grew by 15% (H1 2020: 186.7 million), with a greater number of customers using Auto Trader and choosing to spend more on its platform. If you offer Home Delivery and havent yet updated your details on Auto Trader you can find out more here.
Embracing these services means all retailers can compete with the online entrants who operate nationwide and invest heavily in national marketing campaigns.. We dont charge for the Home Delivery flag you can update this information at any time in portal and this would ensure you appear in relevant searches that select the Home Delivery only filter. GPX enables the consumer to get a guaranteed price for their part-exchange, while Instant Offer enables private sellers to sell their car at a guaranteed price. This allows dealers to extend the reach of theirs online listingsand allows them to provide more transparency to non-local consumers, or shoppers who prefer to buy online. This was offset by an increase in Motoring Services revenue, which was up 21% to 9.9m (2020: 8.2m) as a result of strong growth in both its insurance and finance offerings.
At 31 March 2021 the Group had drawn 30.0m of the facility (31 March 2020: 313.0m). Its the go-to destination for car buyers and has been for the past 40 years. For dealers interested in delivering sales but lacking the tools or resources to fulfill, Market Extension Essential is the perfect solution to dial in operational processes while gaining more sales opportunities. Underlying salary costs continue to increase as the company invest in the best digital talent. All qualified applicants/employees will receive consideration for employment without regard to that individual's age, race, color, religion or creed, national origin or ancestry, sex (including pregnancy), sexual orientation, gender, gender identity, physical or mental disability, veteran status, genetic information, ethnicity, citizenship, or any other characteristic protected by law. Our new Market Extension solution enables retailers stock to appear in a search outside of their normal local market; extending their sales reach to new audiences and creating new sales opportunities, without the need for new locations or the need to repatriate stock across a group. 11 November 2021; Auto Trader Group plc, the UKs largest digital automotive marketplace, announces half year results for the six months ended 30 September 20215. We use cookies to give you the best website experience. People costs, which comprise all staff costs and third-party contractor costs, increased by 16% to 35.0m (H1 2021: 30.2m). From marketing, to finance, to deal - Auto Trader makes the retailer journey easier. The average number of retailer forecourts advertising on its platform increased 6% to 13,892 (H1 2021: 13,056), with lower cancellations in the period. and efficiently manage your merchandising and listing media all within vAuto. What happens if consumer doesnt do anything/what is the default. Auto Trader has revealed that car buyers are considering vehicles being offered for sale25% further from their homes since the start of the COVID-19 pandemic. Auto Trader listed on the London Stock Exchange in March 2015 and is now a member of the FTSE 100 Index. 2022 Cox Automotive, Inc. All Rights Reserved. Im currently on Market Extension and paying a premium for this product, it looks like you are now allowing all retailers to offer home delivery why should I pay a premium? Diluted earnings per share of 13.21 pence (2020: 22.08 pence) decreased by 40%, based on 967,404,812 shares (2020: 929,247,835) which takes into account the dilutive impact of outstanding share awards. If you would like to be part of our Futures group, a small group of retailers who would like to be involved in early testing and idea exploration for new products or features we are working on, you can sign up here. Operating profit margin grew to 70% (H1 2021: 58%) and was consistent with the level seen in H1 2020. However, as a percentage of revenue at 4.9%, it remains below the 5.4% seen in H1 2020. Interest costs relating to leases totalled 0.1m (H1 2021: 0.1m). Interest costs on the Groups RCF totalled 0.9m (H1 2021: 2.0m), with a reduction in interest payable being offset by higher amortised debt issue costs. After gaining FCA authorisation, the company can now enable retailers to display their own finance calculator as standard on their full page adverts on Auto Trader. Product: The company's product lever contributed an increase of 89 (2020: 82) to total ARPR. This is restricted to vehicles located at a specific site and, given buyer search behaviour often favours more local searches, doesnt help retailers extend their geographical reach. This has seen the number of new cars advertised decrease to 39,000 (H1 2021: 46,000). Price: The company's price lever contributed an increase of 50 (2020: 53) to total ARPR as the company executed its annual pricing event for all customers on 1 April 2020, which included additional products but also a like-for-like price increase. Market Extention allowsdealers to select markets outside theirs to show their listings; and when dealersaddMarket Extension Essential, dealers can expand their radius (250, 500 and 1,000 miles), and their listings will show up in searches where results are limited, the companies explained.
Despite this supply pressure, the year on year decline in used car live stock was due to a stock offer in the previous year, where customers could advertise more than their contracted amounts without charge, which wasnt repeated this year. Starting life as a local classified magazine in 1977. As the company build its digital retailing journey, the company envisage these becoming an area that customers can use as part of their own e-commerce journey. In April 2021, the company successfully executed its annual pricing event including the launch of Retailer Stores, which offers retailers their own dedicated, customisable location on Auto Trader. As customer expectations and digital behaviors evolve, so do we.
You will continue to appear in default search, so its unlikely that you will see impact on your response. The company also saw a small contribution from its new Market Extension product. Revenue from Manufacturer and Agency customers declined by 33% to 11.0m (2020: 16.3m). It will change how the UK shops for cars by providing the best online car buying experience, enabling all retailers to sell online. There was also growth in its new car advertising product with over 2,000 paying retailers at the end of March 2021 (March 2020: over 1,000). Consumer Services revenue decreased by 6% in the period to 26.6m (2020: 28.3m). Our employees are the engine that make it all possible. Auto Trader exists to grow both its car buying audience and core advertising business. vAuto SnapLot 360 is partneringwith Autotrader in an effort to deliver immersivevehicle merchandising options for dealers and their customers working to potentially extend shopping radius' for these same dealers. The default is that all stock that meets the search criteria is displayed regardless of home delivery options.
This was offset by interest receivable on cash and cash equivalents of 0.1m (2020: nil). According to the Cox Automotive 360 Spin Research 2021 Study,immersive imaging can level the playing field between traditional and online-only retailers by creating end-to-end benefits and service. The year-on-year decline in the number of used cars live on site contributed to the decline in the levels of paid retailer stock resulting in a 52 decline in the stock lever (2020: decline of 30). The company believe an online finance journey will help customers to increase finance penetration and also reduce processing costs through greater automation. Make/model pages for all new cars improve the buying journey, and its extra content and annual New Car Awards enhances Auto Traders position in the new car market. Revenue fell to 262.8m for the year ended 31March 2021 (2020: 368.9m), down 29% when compared to the prior year. Used car stock was also impacted by supply shortages, particularly amongst its larger, lower yielding customers.
Simply set a radius around your store that youre willing to deliver within and start capturing more market share. Your Account Manager can give you more information on both offerings. The history of Auto Trader starts back in 19772, The automotive market is complex and often inefficient. This allows retailers to show their finance offerings much earlier on in the car buying journey, increasing the opportunity for them to sell their own finance over a consumer sourcing finance from elsewhere. Mays used car sales volumes were 14% ahead of the same period in the pre-COVID trading period of 2019, according to data from Auto Trader. With a 34% higher gross per lead?, Accelerate My Deal is the industry-leading solution that lets shoppers start the car buying process online.
Through thenew solution collaboration, dealers candeliverexterior and interior 360-degree spin views enhanced by customized "hot spotting" of key vehicle features. Average Revenue Per Retailer (ARPR) declined by 32% to 1,324 (2020: 1,949). The magazine also became available in Ireland for the first time. The average cost per employee increased by 10% due to an increase in performance related pay and as a result of the Executive Directors and the Board foregoing 50% or more of their salary and fees for the period of April to June 2020, as well as annual pay reviews resuming in July 2021 having not occurred last financial year. Our company mission is to lead the digital future of our industry, helping retailers make more profit, improving the buying experience and removing inefficiencies through technology. With limited exceptions, Cox will no longer require a COVID vaccine as a condition of employment, effective July 5, 2022. There has been little interaction from consumers with the current test on home delivery so well continue to explore further executions of it over the coming weeks.
Update from our testing: We have run the above test and reviewed the findings. In the medium to long term the financial health of its customers is clearly important, however short-term these conditions have been less favourable for Auto Trader given the direct impact on its business model of fewer cars being advertised for less time. Trade revenue, which comprises revenue from Retailers, Home Traders and other smaller revenue streams, decreased by 31% to 225.2m (2020: 324.3m).4. High levels of demand combined with constrained supply have led to significant levels of price growth, with its used car price index seeing an 11% year on year increase in prices across the period. As the industry leader in connecting car shoppers with dealer inventory, we leverage the most cutting-edge technologies and data strategies to create the best end-to-end user experience. In this blog post I will outline a new proposition from Auto Trader, for our retailer partners to extend their geographical reach with new home delivery and click and collect solutions launching over the coming months and provide information about tests well be conducting soon with buyers on Auto Trader. Engagement, which the company measure by total minutes spent on site, was also strong with an increase of 14% to an average of 633 million minutes per month (H1 2021: 557 million minutes). Entrepreneur John Madejski launched a small regional classified advertising magazine called Thames Valley Trader. You can find out more here. Copyright 1990-2022 Cherokee Media Group, digital retailing; marketing & advertising, Cox Automotive buys parent of Trudell Trailers & Northeast Great Dane, COMMENTARY: CPO The industrys loyalty product, Used-car sales remain 'low,' but are 'not experiencing stress', ACV highlights capabilities of Smart Acquisition Manager, 3 dealer ad agencies now participate in certified Polk data partner program, Mid-month look at wholesale vehicle price, supply movements.
This decrease results from the Operating profit performance, partially offset by a reduction in net finance costs of 3.8m (2020: 7.4m). 360-degree spin images from SnapLot 360 in your Autotrader Market Extension listings. The company's rich history gives it nearly 40 years of brand heritage and trust - unusual among online companies. You can think of this as an organic home delivery solution, allowing retailers to advertise the home delivery service they offer to buyers already looking at their adverts. Hear from our employees, get career advice and learn how we're innovating. Profit before taxation increased by 127% to 150.0m (H1 2021: 66.2m). Karolina Edwards-Smajda, director of commercial products at Auto Trader, said: As online retailing becomes ever more prevalent and consumer confidence grows, the geographical distance between buyers and sellers is set to become less relevant. The company acquired AutoConvert, a finance, insurance and compliance software platform with an integrated customer relationship management system. This is new functionality for our site, and a relatively new customer need, so we want to ensure we test this fully with consumers and our retail partners prior to full launch. The test is running to 5% of audience for less than two weeks, we will review all the learnings from the test alongside more qualitative data from consumer research and may run further tests to fully understand the right next steps. Every retailer customer receives monthly performance dashboard analytics and has access to a Market Insight tool to help them assess their performance, and free access to best practice events. Basic earnings per share increased by 126% to 12.63 pence (H1 2021 5.58 pence) based on a weighted average number of ordinary shares in issue of 963,162,476 (H1 2021: 964,532,317). vehicle, especially when it is outside their local area. The interim dividend will be paid on 28 January 2022 to members on the register on 7 January 2022. The pages created by the user or by XWiki extensions on behalf of the user. The audience is not only large but highly engaged with a 75% share of minutes spent across automotive platforms. Began disposing of the parts of our business that addressed non-UK markets. New car registrations, whilst seeing year on year growth of 17% versus H1 2021, were still 23% below H1 2020 levels as semi-conductor shortages impacted the supply of new cars. GPX enables the consumer to get a guaranteed price for their part-exchange, while Instant Offer enables private sellers to sell their car at a guaranteed price. Please leave a comment, Scope of post-COVID car buying searches extend 25% further. COVID-19 related discounts: The impact of discounts provided to support customers during the various lockdown periods contributed a decline of 712 to total ARPR (2020: 0). Auto Trader has over 90% prompted brand awareness with consumers and attracts over 50 million cross platform visits each month. The company had a reasonable decline in the first quarter, but subsequently saw a steady increase in the number of retailers advertising on its platform since June 2020. The average number of retailer forecourts advertising on its platforms was broadly flat at 13,336 (2020: 13,345). The company use its own data management platform (DMP) to create highly targeted audience segments for advertising and give manufacturers a compelling proposition to reach new car buyers. The Group tax charge of 29.6m (2020: 46.4m) represents an effective tax rate of 19% (2020: 18%). Retailer revenue increased by 94% to 183.3m (H1 2021: 94.5m). Consumers are becoming more interested in the idea of Home Delivery and the recent lockdowns mean the appetite for car purchases without a forecourt may have accelerated. People costs, which comprise all staff costs and third-party contractor costs, increased by 8% to 60.0m (2020: 55.8m). Marketing spend increased by 203% in H1 2022 to 10.6m (H1 2021: 3.5m) as discretionary spend was reduced in response to the pandemic in H1 2021 but has since resumed. With more retailers adapting to the changing expectations of car buyers, such as offering money back guarantees and extended warranties, car buyers are becoming increasingly comfortable with buying from further afield, Auto Trader said. Thats how we power whats next. This is a model that we aim to bring to our platform, presenting buyers with more relevant stock and enabling our retailer partners to extend their sales reach beyond their physical locations and remove the need for this stock to be tied to one location, opening up new sales opportunities and new buyer markets for that stock. Theyll get the buying experience they want, and youll get better leads and higher profits. Much of the increase came from COVID related discounts which were offered to customers in the prior year and due to their absence in 2022 contributed 640 of growth. Created a joint venture with Cox Automotive, Dealer Auction, to provide an innovative digital marketplace for wholesale vehicles. Have we seen any behaviour that would suggest home delivery is generating more response for retailers?
Were testing the impact of consumers including and excluding home delivery options from their search. These constraints have also impacted used cars, particularly for its larger customers, as lower new car sales have meant fewer part-exchanges and a lower volume of cars sent to auction from wholesalers. Cox is an Equal Employment Opportunity employer. We dont charge for the Home Delivery flag you can update this information at any time in portal and this would ensure you appear in relevant searches that select the Home Delivery only filter. Market Extension still allows you the unique opportunity to extend your market reach anywhere in the UK in our default search. Whether youre already focusing on outside markets or want to break into new ones, Market Extension is a car listing enhancement that literally delivers. Other costs, which include data services, property related costs and other overheads, decreased by 17% to 27.9m (2020: 33.6m). The product has two different but complementary options: The home delivery component will enable retailers to specify postcode areas they are willing to deliver to and their stock then appears in search to buyers in those areas, clearly marked as being available for home delivery. Reach more shoppers with digital display ads. Online retailing has long set the bar for seamless retailing, taking John Lewis as an example, when shopping online, buyers are presented with simple options for the item to be collected in store, delivered for collection from a store near them if out of stock locally, or delivered to their home. With a return to more normal levels in 2022, total costs increased by 29% to 65.4m (H1 2021: 50.8m), which was a 15% increase versus H1 2020. If you follow a company closely and would like to share your knowledge, we would love your contributions. Many buyers still want to shop locally and visit their local dealership, which we already enable through our platform and will further enhance with our new Top Spot offering. If you are on the Market Extension Home Delivery product you will continue to appear in all relevant searches excluding the protection of local searches radius. Market Extension vehicles will not currently appear if a buyer conducts a hyper local search to ensure were best serving buyer needs as well as retailers. This increase was partly driven by the acquisition of AutoConvert in July 2020 accounting for an increase of 18. SnapLot 360 allows you to easily create an immersive digital experience that todays modern buyer demands
Average Revenue Per Retailer (ARPR) increased by 82% to 2,199 (H1 2021: 1,206). Application Load Balancer in AWS, 14 Questions With Ron Calderon, QA Analyst II at Cox Automotive, EEO is the Law Supplement (Cox Enterprises & Cox Automotive), EEO is the Law Supplement (Cox Communications), Remote - New Jersey - Northern Region + 1 other location. This field is for validation purposes and should be left unchanged. Media House, Lynch Wood, Peterborough, PE2 6EA - Registered number01176085, AM magazine: Newspress Awards' Automotive Business Publication of the Year 2020, Apprenticeship levy: car dealer resources, Manufacturer insight - new car sales figures, The ID50 2019 the UK's 50 biggest independent dealers, Car dealership sites are set to undergo a major transformation over the next decade, Click here for used car best practice and procurement insight, COVID impact sees Auto Trader profits decline 38% in 2020/21, Accessibility and cost to dictate future of car showrooms, May used car sales volumes 14% up on 2019, says Auto Trader, Honda reveals 2023 Civic Type R (gallery), Car dealers advised to balance staff bonuses in response to soaring inflation, BCA consults Derby, Peterborough and Sandwich staff over planned restructure, EV battery health must join mileage and age as key used car valuation metric, Demand for fast-selling used cars drives 8.8% price growth at BCA auctions, GardX announce new 5-year strategy Ignite and new corporate structure, Eden Motor Group raise over 30k for charities and communities, How workshops might adapt to electric vehicle repairs and services, ASE's professional services arm sold to Armstrong Watson, Six in 10 car repairers expect to raise prices to restore profitability, Bentley Bentayga 142,000 refund case could set significant precedent, Nissan accused of 'cloak and dagger' tactics to axe over 20 car dealerships, Jaguar Land Rover to introduce car retail agency model by 2024, Car showrooms might widen their scope to find new revenue streams, Indirect expenses threaten dealer profits, Have you noticed fuel economy rise in used car buyers' priorities this year? Much of this product growth was a result of its annual pricing event underpinned by three products: an upgraded Performance Dashboard, Retail Check and a new Market Insight tool. Profit before taxation decreased by 37% to 157.4m (2020: 251.5m). Net finance costs decreased to 1.7m (H1 2021: 2.3m). Diluted earnings per share of 12.61 pence (H1 2021: 5.55 pence) increased by 127%, based on 965,070,560 shares (H1 2021: 969,927,775) which takes into account the dilutive impact of outstanding share awards. The company's platform offers consumers an unparalleled selection of new and used car listings, enabling them to search from a marketplace of 485,000 cars including 47,000 new cars each month. Were likely to include click & collect options into the next test once that functionality is ready. 2021 vAuto Inc. All Rights Reserved. We have over 3,000 retailers who have added Home Delivery as a flag on their adverts and were keen to explore further the consumer appetite for seeing vehicles that offer home delivery as well as those who want to exclude home delivery as an option and focus on local physical search. In 2013, the company successfully completed the transition from a print title and became a fully digital marketplace. Interest paid on these financing arrangements was 3.0m (2020: 6.4m). You can virtually sell to shoppers anywhere you like and even send your inventory directly to their door. Other retailers who have flagged that they offer home delivery will only appear in searches as they do today based on their physical location, with delivery shown as an option in their advert view only. This demand has been fuelled by a catch up in transactions that didnt happen in 2020 due to COVIDrelated lockdowns, increased consumer interest in car ownership and good levels of consumer confidence. This test will be live for a period of two weeks. The company aim to build stronger partnerships with its customers, use its voice and influence to drive more environmentally friendly vehicle choices and create an inclusive and more diverse culture. The Group made the decision to reduce costs, mainly through the reduction of discretionary marketing spend, which led to total costs decreasing by 8% to 104.0m (2020: 113.2m). Deliver the experience car buyers want while getting the results you need with vehicle listing enhancements on KBB.com and Autotrader. By Karolina Edwards-Smajda, Commercial Product Director, Auto Trader. Our application system is in the process of being updated so your response to that question, if present, will not be considered in the job selection process. Auto Trader found that during the latest national lockdowns when physical forecourts were closed, the average distance spiked to 60 miles. As weather cools off from the heat of latesummer, the above partnershipand its effortsto merchandise and market vehicles outside dealers' market areasmay offset what the company shared is also a "cooldown" in consumer demand, as well. A better comparison is that of two years ago, against which revenue grew by 15% (H1 2020: 186.7 million), with a greater number of customers using Auto Trader and choosing to spend more on its platform. If you offer Home Delivery and havent yet updated your details on Auto Trader you can find out more here. Embracing these services means all retailers can compete with the online entrants who operate nationwide and invest heavily in national marketing campaigns.. We dont charge for the Home Delivery flag you can update this information at any time in portal and this would ensure you appear in relevant searches that select the Home Delivery only filter. GPX enables the consumer to get a guaranteed price for their part-exchange, while Instant Offer enables private sellers to sell their car at a guaranteed price. This allows dealers to extend the reach of theirs online listingsand allows them to provide more transparency to non-local consumers, or shoppers who prefer to buy online. This was offset by an increase in Motoring Services revenue, which was up 21% to 9.9m (2020: 8.2m) as a result of strong growth in both its insurance and finance offerings.
At 31 March 2021 the Group had drawn 30.0m of the facility (31 March 2020: 313.0m). Its the go-to destination for car buyers and has been for the past 40 years. For dealers interested in delivering sales but lacking the tools or resources to fulfill, Market Extension Essential is the perfect solution to dial in operational processes while gaining more sales opportunities. Underlying salary costs continue to increase as the company invest in the best digital talent. All qualified applicants/employees will receive consideration for employment without regard to that individual's age, race, color, religion or creed, national origin or ancestry, sex (including pregnancy), sexual orientation, gender, gender identity, physical or mental disability, veteran status, genetic information, ethnicity, citizenship, or any other characteristic protected by law. Our new Market Extension solution enables retailers stock to appear in a search outside of their normal local market; extending their sales reach to new audiences and creating new sales opportunities, without the need for new locations or the need to repatriate stock across a group. 11 November 2021; Auto Trader Group plc, the UKs largest digital automotive marketplace, announces half year results for the six months ended 30 September 20215. We use cookies to give you the best website experience. People costs, which comprise all staff costs and third-party contractor costs, increased by 16% to 35.0m (H1 2021: 30.2m). From marketing, to finance, to deal - Auto Trader makes the retailer journey easier. The average number of retailer forecourts advertising on its platform increased 6% to 13,892 (H1 2021: 13,056), with lower cancellations in the period. and efficiently manage your merchandising and listing media all within vAuto. What happens if consumer doesnt do anything/what is the default. Auto Trader has revealed that car buyers are considering vehicles being offered for sale25% further from their homes since the start of the COVID-19 pandemic. Auto Trader listed on the London Stock Exchange in March 2015 and is now a member of the FTSE 100 Index. 2022 Cox Automotive, Inc. All Rights Reserved. Im currently on Market Extension and paying a premium for this product, it looks like you are now allowing all retailers to offer home delivery why should I pay a premium? Diluted earnings per share of 13.21 pence (2020: 22.08 pence) decreased by 40%, based on 967,404,812 shares (2020: 929,247,835) which takes into account the dilutive impact of outstanding share awards. If you would like to be part of our Futures group, a small group of retailers who would like to be involved in early testing and idea exploration for new products or features we are working on, you can sign up here. Operating profit margin grew to 70% (H1 2021: 58%) and was consistent with the level seen in H1 2020. However, as a percentage of revenue at 4.9%, it remains below the 5.4% seen in H1 2020. Interest costs relating to leases totalled 0.1m (H1 2021: 0.1m). Interest costs on the Groups RCF totalled 0.9m (H1 2021: 2.0m), with a reduction in interest payable being offset by higher amortised debt issue costs. After gaining FCA authorisation, the company can now enable retailers to display their own finance calculator as standard on their full page adverts on Auto Trader. Product: The company's product lever contributed an increase of 89 (2020: 82) to total ARPR. This is restricted to vehicles located at a specific site and, given buyer search behaviour often favours more local searches, doesnt help retailers extend their geographical reach. This has seen the number of new cars advertised decrease to 39,000 (H1 2021: 46,000). Price: The company's price lever contributed an increase of 50 (2020: 53) to total ARPR as the company executed its annual pricing event for all customers on 1 April 2020, which included additional products but also a like-for-like price increase. Market Extention allowsdealers to select markets outside theirs to show their listings; and when dealersaddMarket Extension Essential, dealers can expand their radius (250, 500 and 1,000 miles), and their listings will show up in searches where results are limited, the companies explained.
Despite this supply pressure, the year on year decline in used car live stock was due to a stock offer in the previous year, where customers could advertise more than their contracted amounts without charge, which wasnt repeated this year. Starting life as a local classified magazine in 1977. As the company build its digital retailing journey, the company envisage these becoming an area that customers can use as part of their own e-commerce journey. In April 2021, the company successfully executed its annual pricing event including the launch of Retailer Stores, which offers retailers their own dedicated, customisable location on Auto Trader. As customer expectations and digital behaviors evolve, so do we.
You will continue to appear in default search, so its unlikely that you will see impact on your response. The company also saw a small contribution from its new Market Extension product. Revenue from Manufacturer and Agency customers declined by 33% to 11.0m (2020: 16.3m). It will change how the UK shops for cars by providing the best online car buying experience, enabling all retailers to sell online. There was also growth in its new car advertising product with over 2,000 paying retailers at the end of March 2021 (March 2020: over 1,000). Consumer Services revenue decreased by 6% in the period to 26.6m (2020: 28.3m). Our employees are the engine that make it all possible. Auto Trader exists to grow both its car buying audience and core advertising business. vAuto SnapLot 360 is partneringwith Autotrader in an effort to deliver immersivevehicle merchandising options for dealers and their customers working to potentially extend shopping radius' for these same dealers. The default is that all stock that meets the search criteria is displayed regardless of home delivery options. This was offset by interest receivable on cash and cash equivalents of 0.1m (2020: nil). According to the Cox Automotive 360 Spin Research 2021 Study,immersive imaging can level the playing field between traditional and online-only retailers by creating end-to-end benefits and service. The year-on-year decline in the number of used cars live on site contributed to the decline in the levels of paid retailer stock resulting in a 52 decline in the stock lever (2020: decline of 30). The company believe an online finance journey will help customers to increase finance penetration and also reduce processing costs through greater automation. Make/model pages for all new cars improve the buying journey, and its extra content and annual New Car Awards enhances Auto Traders position in the new car market. Revenue fell to 262.8m for the year ended 31March 2021 (2020: 368.9m), down 29% when compared to the prior year. Used car stock was also impacted by supply shortages, particularly amongst its larger, lower yielding customers.
Simply set a radius around your store that youre willing to deliver within and start capturing more market share. Your Account Manager can give you more information on both offerings. The history of Auto Trader starts back in 19772, The automotive market is complex and often inefficient. This allows retailers to show their finance offerings much earlier on in the car buying journey, increasing the opportunity for them to sell their own finance over a consumer sourcing finance from elsewhere. Mays used car sales volumes were 14% ahead of the same period in the pre-COVID trading period of 2019, according to data from Auto Trader. With a 34% higher gross per lead?, Accelerate My Deal is the industry-leading solution that lets shoppers start the car buying process online.
Through thenew solution collaboration, dealers candeliverexterior and interior 360-degree spin views enhanced by customized "hot spotting" of key vehicle features. Average Revenue Per Retailer (ARPR) declined by 32% to 1,324 (2020: 1,949). The magazine also became available in Ireland for the first time. The average cost per employee increased by 10% due to an increase in performance related pay and as a result of the Executive Directors and the Board foregoing 50% or more of their salary and fees for the period of April to June 2020, as well as annual pay reviews resuming in July 2021 having not occurred last financial year. Our company mission is to lead the digital future of our industry, helping retailers make more profit, improving the buying experience and removing inefficiencies through technology. With limited exceptions, Cox will no longer require a COVID vaccine as a condition of employment, effective July 5, 2022. There has been little interaction from consumers with the current test on home delivery so well continue to explore further executions of it over the coming weeks.
Update from our testing: We have run the above test and reviewed the findings. In the medium to long term the financial health of its customers is clearly important, however short-term these conditions have been less favourable for Auto Trader given the direct impact on its business model of fewer cars being advertised for less time. Trade revenue, which comprises revenue from Retailers, Home Traders and other smaller revenue streams, decreased by 31% to 225.2m (2020: 324.3m).4. High levels of demand combined with constrained supply have led to significant levels of price growth, with its used car price index seeing an 11% year on year increase in prices across the period. As the industry leader in connecting car shoppers with dealer inventory, we leverage the most cutting-edge technologies and data strategies to create the best end-to-end user experience. In this blog post I will outline a new proposition from Auto Trader, for our retailer partners to extend their geographical reach with new home delivery and click and collect solutions launching over the coming months and provide information about tests well be conducting soon with buyers on Auto Trader. Engagement, which the company measure by total minutes spent on site, was also strong with an increase of 14% to an average of 633 million minutes per month (H1 2021: 557 million minutes). Entrepreneur John Madejski launched a small regional classified advertising magazine called Thames Valley Trader. You can find out more here. Copyright 1990-2022 Cherokee Media Group, digital retailing; marketing & advertising, Cox Automotive buys parent of Trudell Trailers & Northeast Great Dane, COMMENTARY: CPO The industrys loyalty product, Used-car sales remain 'low,' but are 'not experiencing stress', ACV highlights capabilities of Smart Acquisition Manager, 3 dealer ad agencies now participate in certified Polk data partner program, Mid-month look at wholesale vehicle price, supply movements.