Enquiries decline in July

author: FutureCar Staff    

The latest data from iTrackLEADS reveals that enquiries for new and used vehicles experienced a decline of 0.9% in July compared to the same period last year.

Despite this decrease, dealers saw an increase of 4.6% in the number of enquiries they responded to. However, despite the increased efforts, overall sales fell by 15% during this time. Additionally, test drives also experienced a decline of 1.9% in the month.

Adrian Favill, the director of iTrackLEADS, commented on these findings, stating that while consumer interest remains relatively high with only a small decrease in the number of enquiries, concerns about the economy are starting to have an impact. He highlighted that the 15% decline in sales is the largest drop observed this year. Favill emphasized the importance for dealers to maximize the value of each enquiry and prepare for an extended sales process that will require enhanced management.

Favill also suggested that digital solutions can assist dealers in becoming more efficient in their response to enquiries, leading to improved access to data and better customer service. He explained that sales teams become more effective when they have access to shared and analyzed data. By monitoring key metrics such as the time it takes to complete a sale and conversion rates, dealers can optimize every opportunity. The data from iTrackLEADS indicates that it is crucial to respond to a lead quickly, as up to 78% of sales go to the dealer who responds to an enquiry first.

FutureCar Staff