Auto Trader suffered a 29% decline in revenues and 38% reduction in operating profit as it acted to mitigate the impact of COVID-19 on its car retail customers, its 2020 annual financial results have revealed.
Buyacar chief executive Andy Oldham said his focus remains on “supporting dealers” as he leads the new Autovia venture to fuse its ecommerce offering with the publishing firepower of Dennis publishing’s automotive titles.
Car buyers turning to televised sports during COVID-19 ‘Lockdown 3’ look set to continue to be a prime target for retailers, with Cazoo, heycar and Vanarama all securing new football-related marketing opportunities.
Changes set to be introduced to the Auto Trader platform in May will flag-up additional fees charged by car retailers in an effort to make online sales more “fair, consistent and transparent for car buyers”.
TWO days of insightful, engaging content that Automotive Management LIVE is known for whilst enabling our audience to connect with the full range of suppliers to motor retail, learn and share industry best practice, and discuss how to prepare for the future of motor retail.