Searches for new vehicles fell 3% in the past 30 days compared with the 30 days prior, where searches fell 29%. Microsoft Advertising attributes it to improved vehicle sales in May, compared with April. And that's combined with discounts and promotions to keep consumer demand up during the COVID-19 pandemic.
Used vehicle searches rose 12% for the current 30-day period, after used wholesale vehicle prices dropped by nearly 16% at the lowest point during April, compared with pre-COVID-19 times, according to Microsoft Advertising data.
Trucks are outselling all categories. I don’t need Microsoft to tell me. I’ve spoken with many employees at car dealerships in the past month, after talking with many friends looking for new and used vehicles.
Microsoft’s data compares searches between April 30, 2020 and May 29, 2020, with March 31, 2020 and April 29, 2020.
The most searched-for brands in the past 30 days include Buick, Ford F-150 trucks, Honda CRV, and the all new 2020 Passat sedan. During the 30 days prior, those brands included Cadillac, Lincoln, Subaru, Volkswagen and Volvo.
The term “new + economy” brand is up by more than 10%, while “used + economy” brand came in flat for the most recent 30-day period. The terms “new + non-luxury” non-brand fell by -29% for the most recent 30-day period, while “used + non-luxury” non-brand is significantly outperforming with more than 47% growth.
The “new + luxury” brand searches fell by 8% for the most recent 30-day period, while “used + luxury” brand searches fell 14%. The terms “new + luxury” non-brand searches fell 34% for the most recent 30-day period. “Used + luxury” non-brand significantly outperformed with more than 44% growth.
Microsoft also lists queries showing the greatest positive momentum and statistical significance in the past 30 days, compared with the prior 30 days. Nearly 75% of emerging new vehicle queries are at the model level. Three-fourths of searches are UVs.