Auto Trader are the motoring industry’s UK and Ireland’s largest digital automotive marketplace with a history stretching back to the late 70’s. It’s the go-to destination for car buyers and has been for the past 40 years. By 2013 they had transitioned from a print to a 100% digital business.
Auto Trader has over 90% prompted brand awareness with consumers and attracts over 50 million cross platform visits each month. The audience is not only large but highly engaged with a 75% share of minutes spent across automotive platforms.
The marketplace also hosts the largest pool of vehicle sellers (listing more than 485,000 cars each day) thanks to our partnership with more than 13,300 retailers. Judging by their latest results, the business is in good health and recovering well from the pandemic, despite subdued car manufacturing during the economic slowdown and supply chain issues.
Auto Trader’s core marketplace business grew revenue by 9%, operating profit by 10% and maintained 70% operating profit margins. Despite constrained new and used vehicle supply, revenue from retailers grew 10%, with strong adoption of our additional products and services.
Auto Trader’s annual pricing and product event took effect from 1st April 2023, underpinning revenue growth expectations for the coming year. They continue to see further adoption of their Auto Trader Connect platform, which enables better connected bucying experiences and improved operational efficiencies for customers.
Retailer forecourt numbers were up 1% after adjusting for the disposal of Webzone Limited in October 2022. The number of UK forecourts continued to be at record levels, with over 800 more retailers paying to advertise on Auto Trader than before the pandemic.
The number of visits continued to be significantly above pre-pandemic levels and were up 1% year-on-year. Robust consumer demand has led to cars selling faster than at any time since our IPO in 2015, which has suppressed the average number of cars listed on Auto Trader.
Auto Trader completed the initial development of their Deal Builder product allowing car buyers to value their part-exchange, apply for finance and reserve vehicles online. They are now growing customer numbers with over 50 retailers trialling the service at the end of March. Autorama operating losses were as expected and the integration is progressing well
