European Internet: Online Classifieds & Autos: Tracking Trends (June)

研报英文原文证据摘录

European Internet: Online Classifieds & Autos: Tracking Trends (June)

Viewpoint |

15 Jul 2026 00:00:00 ET │ 24 pages

European Internet

Online Classifieds & Autos: Tracking Trends (June)

CITI'S TAKE

Doyinsola Ojo AC

We review the June 2026 web, app and listing volume trends across the +44-20-7986-4112

European online classifieds and online autos retailers; we track this data in doyinsola.ojo@citi.com

conjunction with Citi Research Innovation Lab. Trends include: 1) AUTO –

traffic softened further in June, but used-car inventory returned to flat, the Ciaran Donnelly

strongest trend YTD and in-line with management’s expectation for a ciaran.donnelly@citi.com

recovery in stock through FY27. 2) HEM – housing recovery signals are

present, with listings improving to -9% y/y (YTD -22%), and Swedish Praveen Shetty

housing transactions up +18% y/y. 3) AG1 – Autohero (AH) inventory praveen1.shetty@citi.com

declined y/y for the first time in our dataset, consistent with management’s

focus on inventory efficiency; however, the trend is likely to increase focus

on the outlook for AH unit growth and July trading at 2Q results. We rate

G24, and AG1 a Buy; AUTO, HEM, RMV, VEND, and ARAMI Neutral.

Autotrader: Demand remains resilient despite softer traffic — Web and app AU’s

declined in June due to the UK’s summer heatwave and World Cup, but high intent

buyers remained active, with days to sale steady at 30 days. Avg. used car stock on

AUTO returned to flat y/y (May: -3% y/y), the strongest YTD inventory trend, in-line

with management guidance of a recovery in stock during FY27.

Rightmove: RMV traffic and buyer demand softened, but UK housing transaction

activity remains robust — Web and app traffic remained soft in June, as the summer