Luxury Cars Demand Increases Despite Coronavirus Pandemic
2020 has been an incredibly difficult and challenging year for the whole world and not least the automotive industry. With various, ever-changing lockdown restrictions affecting differing areas of the UK, showrooms and dealerships have had a hard time trying to adhere to the latest guidelines.
With buyer confidence low and consumers less willing to visit physical stores where they may have to come into contact with people, the automotive industry has had to adapt accordingly and change with the times.
It may come as a surprise then, that despite all these problems, our latest research shows that Google searches for luxury & prestige cars increased by 17% over the first 6 months since COVID-19 hit the UK in March 2020.
We analysed 31 different Google searches between March & August 2020 vs the same time period from 2019 and the data makes for some interesting and revealing reading:
- The biggest increase in searches was for the specific keyword ‘luxury cars’ which increased by 2,200 searches a month (50%) as Brits continued to ‘Google’ their favourite motors
- ‘luxury suv’ also saw a huge rise (48%) as we perhaps decided to put our money into a new vehicle to travel around the country rather than holidays abroad
- ‘luxury sports cars’ was also up by almost half as Brits decided to treat themselves on a new toy during the unprecedented times
- There were 3,280 more searches in total in 2020 vs 2019 (a 17% increase)
So regardless of the financial difficulties that the pandemic has thrown up for UK consumers, it seems that they were still firmly in the market for a new luxury car. Perhaps the money saved from being able to travel abroad and spend money on holidays has been reinvested into a prestige motor to tour the UK in?
Either way, as we enter a second wave, it may not be as problematic as once thought for the auto industry and the lessons learnt from the first lockdown have been learnt so showrooms are much more prepared.
The data is from Google’s Keyword Planner Tool for March 2020 – August 2020 vs the same time period in 2019.
See full raw data below:
|Mar-Aug 2019||Mar-Aug 2020|
|Keyword||Avg. monthly searches||Keyword||Avg. monthly searches||Difference||Difference as a %|
|exotic cars||590||exotic cars||720||130||22.03|
|exotic cars for sale||110||exotic cars for sale||110||0||0.00|
|luxury 4x4s||10||luxury 4x4s||10||0||0.00|
|luxury cars||4,400||luxury cars||6,600||2,200||50.00|
|luxury cars for sale||880||luxury cars for sale||1,000||120||13.64|
|luxury sports cars||590||luxury sports cars||880||290||49.15|
|luxury sports cars for sale||20||luxury sports cars for sale||30||10||50.00|
|luxury suv||880||luxury suv||1,300||420||47.73|
|luxury suv for sale||10||luxury suv for sale||20||10||100.00|
|luxury vehicles||480||luxury vehicles||590||110||22.92|
|luxury vehicles for sale||10||luxury vehicles for sale||10||0||0.00|
|premium cars||480||premium cars||480||0||0.00|
|premium cars for sale||30||premium cars for sale||30||0||0.00|
|prestige cars||8,100||prestige cars||8,100||0||0.00|
|prestige cars for sale||1,600||prestige cars for sale||1,600||0||0.00|
|prestige vehicles||210||prestige vehicles||260||50||23.81|
|prestige vehicles for sale||10||prestige vehicles for sale||10||0||0.00|
|used exotic cars||10||used exotic cars||10||0||0.00|
|used exotic cars for sale||10||used exotic cars for sale||10||0||0.00|
|used luxury cars||260||used luxury cars||210||-50||-19.23|
|used luxury cars for sale||40||used luxury cars for sale||50||10||25.00|
|used luxury sports cars||10||used luxury sports cars||10||0||0.00|
|used luxury sports cars for sale||10||used luxury sports cars for sale||10||0||0.00|
|used luxury suv||10||used luxury suv||20||10||100.00|
|used luxury suv for sale||10||used luxury suv for sale||10||0||0.00|
|used luxury vehicles||10||used luxury vehicles||10||0||0.00|
|used luxury vehicles for sale||10||used luxury vehicles for sale||10||0||0.00|
|used premium cars||50||used premium cars||90||40||80.00|
|used premium cars for sale||10||used premium cars for sale||10||0||0.00|
|used prestige cars||260||used prestige cars||210||-50||-19.23|
|used prestige cars for sale||70||used prestige cars for sale||50||-20||-28.57|