Car buyers tighten belts
Interest from car buyers in 4x4s has surged during January, although the average spend has fallen slightly from last year’s record highs.
This is according to research from buyacar, which found the wintry conditions has driven demand for 4x4s.
Other insights included demand for diesel cars remained almost unchanged at just below a third of all sales, average prices fell slightly while average mileages rose by eight per cent to 27,506.
Meanwhile, interest in electric vehicles appears to have slipped back after accounting for 15% of all sales in the fourth quarter of last year.
Christofer Lloyd, editor, said: “January has heralded a more cautious market, with car buyers evidently more concerned with recent wintry conditions and doubtless feeling a little more budget-conscious after the Christmas period.
“This probably accounts for the choices motorists are making, to spend a little less on average than we were seeing toward the end of last year and focus more on the cars that they perceive as best suited to the wintry, wet conditions of the next couple of months.
“As we have reported many times before, analysis of buyer behaviour also suggests that women tend to be more practical than men in their approach to car-buying. This may account for slightly fewer purchases by women at the moment, at a time when the typical household is taking stock of finances after the additional costs of the festive season.
“With EVs still just outside the mainstream for the typical used car buyer, a focus on practicality during the winter months may account for them slipping back for the moment to a more familiar small slice of the market. However, based on the experience of last year, we continue to be confident that EVs will make further strides toward mainstream acceptance this year.”
