London, March 13, 2026, 18:30 GMT
Autotrader Group traded around 492 pence on Friday, gaining ground despite a fresh disclosure showing Baillie Gifford cut its stake to 4.996% from 5.053%. Shares outperformed the FTSE 100, which slipped 0.43%. Investors tracked the latest on the UK online car platform at its investor site.
The change is significant: management insists the rolling buyback continues, yet investors have kept their distance since January. The sticking point? Deal Builder. That’s Autotrader’s digital platform for reserving cars, trading in, and sorting finance online. Jefferies flagged the April pricing event linked to that launch—dealer pushback made it tough to handicap, so the shares have stayed skittish, quick to react to even a hint of momentum or a stumble.
Friday’s pop leaves the shares sitting about 46% under their 52-week peak of 920p, and just a shade above the February low at 454.5p. That gap underscores just how much sentiment has faded since last year’s surge.
Autotrader snapped up 769,278 of its own shares for cancellation on Thursday, paying an average price of 488.9622 pence apiece. That leaves the group with 825,123,061 voting rights on the books. The move lines up with the company’s capital-allocation approach: spare cash, once investment needs and dividends are handled, heads straight to buybacks.
Back in November, the company reported first-half revenue up 5% to 317.7 million pounds, while operating profit climbed 6% to 200.1 million pounds. Chief Executive Nathan Coe described Autotrader as “confident in the outlook.” Full-year numbers are set for release on May 21, the company added. Investegate
The market is holding steady, not overheating. According to Autotrader’s February report, used-car transactions dropped 2% from a year ago. Still, demand didn’t really budge, and vehicles sold in about 27 days on average—a day quicker than last year. Retail prices for used cars? Largely flat.
New-car registrations in Britain climbed 7.2% in February, reaching 90,100 units—the highest for the month since 2004, data from the Society of Motor Manufacturers and Traders show. Maria Bengtsson of EY, leading mobility for the UK and Ireland, called the sector’s recent performance a “testament to the resilience” of the industry. Still, she flagged potential risks from Middle East turmoil that could put pressure on supply chains and extend lead times. SMMT
Risks remain on the table for the stock. Autotrader’s consensus page, last updated Feb. 18, paints a divided sell-side: Barclays sits at overweight, while Citi, Panmure, Investec, and Deutsche Numis all lean buy. Jefferies, though, sticks with hold; J.P. Morgan is underweight and UBS stands at sell. Back in January, Jefferies called the April pricing event a tough one to predict after negative dealer feedback on Deal Builder. Berenberg, for its part, trimmed its target and kept hold, pointing to growing pains from the rollout. The bear case is pretty clear: if dealer adoption drags or the April price changes miss the mark, a buyback might not fix sentiment ahead of the full-year update in May.
