Incoming baby boom to impact cars

Incoming baby boom to impact cars

Posted 26 August, 2020 at 12:00

Author Mark Bradshaw on behalf of (IFM) Independent Forecourt Magazine


BRITS TURN TO FAMILY MOTORS: PREDICTIONS SUGGEST AN INCOMING BABY BOOM

  • 1 in 3 couples admit to more ‘intimate time’ since lockdown, leading to baby boom prediction
  • Auto Trader reports a 28% YOY increase in interest for popular family cars ahead of September plate change
  • The most common change parents make in preparation for welcoming a new baby is upgrading to a bigger or more suitable car (36%)
  • To find September plate change deals, visit: autotrader.co.uk/cars/deals

17th August 2020 – The UK could be preparing for a new wave of post-lockdown babies, as 1 in 3 couples (32%) admit to having more ‘intimate time’ with their partner during lockdown. New car-buying statistics indicate Brits are now on the lookout for family vehicles as they prepare for potential new arrivals.

The UK’s largest digital marketplace for new and used cars, Auto Trader, has reported a 28% increase in interest for popular family cars* year on year, with SUVs, MPVs and estates seeing a combined increase of 164,855,773 ad-views year on year. This is in the lead up to September’s number plate change, the most popular month each year for buying brand new cars.

Whilst car buyers’ interest naturally dipped during the beginning stages of lockdown in April, this came roaring back for family cars in the past two months, leading to the expectation of the trend continuing into September where buyers will want to snap up the newest number plates, and are even preparing for larger families come the end of 2020.

To further examine this trend, Auto Trader commissioned a survey of 2,000 UK parents to analyse their approach to becoming a new parent.

When quizzed on the changes parents made when preparing for life with a new baby, upgrading to a bigger or more suitable car topped the list with 36% of respondents selecting this answer. This was in fact a more common answer than saving for the child’s education (33%), moving to a bigger house (29%) and planning for childcare (27%).

For more than half of parents, the car upgrade provided the necessary space for fitting a car seat (56%) and for transporting baby gear such as a pram (53%).

As many as 41% also felt the bigger car provided a safer environment for their child and 40% saw it as an investment to create additional space if they were to have more children in future.

However, according to the data 15% of parents say they hadn't accounted for the cost of a bigger car when planning to welcome a new child into the world. â€‹

Additionally, the study reveals the other unexpected expenses that some parents were not financially prepared for prior to the arrival of their new baby, including nursery fees (19%), the reduction in pay during maternity or paternity leave (16%) and the expense of purchasing a pram (15%). 

Commenting on the findings, Auto Trader’s Rory Reid says: “September is one of the biggest months of the year for car buying as people flock to get the latest number plate. It’s no surprise, therefore, that soon-to-be parents are using this time to look for family cars in anticipation of the ‘coronnials’ baby boom.”

“Research is key when finding the right family car; it’s important to find a vehicle that is spacious enough and suits the needs of the family without putting unnecessary strain on finances. But making the right upgrade could make the transition into parenthood that little bit simpler.”

To find September plate change deals, visit: autotrader.co.uk/cars/deals

*Year-on-Year percentage increase in searches for June and July 2020 compared to same months in 2019

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