‘Remarkable’ recovery in vehicle sales
Public appetite for high value used vehicles remains incredibly high despite the unprecedented rise in sale prices.
In May, the average price for a car paid by the online car supermarket BuyaCar broke through the £17,000 barrier for the first time ever. But, rather than being deterred from changing their cars, motorists are choosing to spend still more by opting for even higher quality vehicles.
It means that the five most popular cars sold by BuyaCar have changed dramatically since January and are now exclusively German brands. In January, its five most popular cars included the Ford Fiesta and the Vauxhall Corsa, but as motorists splash out on more desirable cars, these have been replaced by the Mercedes C-Class and CLA-Class.
Christofer Lloyd, editor of BuyaCar, said: “The ups and downs of the used car market over the past 15 months are unprecedented and although we did forecast a substantial flood of buying activity when restrictions were eased, these figures are remarkable.
“Under normal market circumstances, rising prices tend to make buyers cautious, but what we are seeing is a desire to spend substantially more on better cars, to the tune of 40% more in the case of our five most popular sellers.
“With used car supply unlikely to increase for some time, we foresee demand remaining strong. This means that for consumers who are undecided about whether to change their car now, or wait until prices settle down again, today may well be the best moment to buy.”
