Cars continue to be an essential and much-loved part of British life. Enthusiasm for the automotive sector is common in the UK, but more people also want to purchase their own after losing confidence in public transport following new-found risks and issues after the pandemic. We tend to spend a lot of time in our vehicles too so, naturally, we take our pick very carefully.
Mercedes, along with other manufacturers, are racing to transform their production line from petrol/diesel powered vehicles to electric cars. And so far this year they have popularised the new electric EQS SUV. Aside from this, which cars are proving popular in the UK in 2022 and how can you get your hands on one? Let’s take a look.
2022’s best-selling cars
Up to June 2022, the UK’s top three bestselling cars are:
- Vauxhall Corsa: A small but mighty model, many iterations of the Corsa have been a common sight on Britain’s roads.
- Ford Puma: Ford’s latest foray into the world of compact SUVs, the Puma is a stylish offering from one of Britain’s preferred brands.
- Nissan Qashqai: Practical, sleek and a good all-rounder, this crossover makes an ideal family car.
In terms of fuel, the British public seems to be turning towards greener options. In June 2022, BEVs (battery electric vehicles) were the only engine type to see a year-on-year increase in new car registrations. More traditional combustion options of petrol and diesel saw devastating drops of -28.2% and -46.7%, respectively.
New and used prices
However, the car market is becoming increasingly expensive in line with inflation and the effects of global supply chain shortages caused largely by coronavirus lockdowns. This is true for many essential parts, including the onboard computer microchips and semiconductors.
With delays in new cars hitting courts, used car prices are at a serious high, especially for nearly new models or those with low mileage. Given car companies don’t need to worry about demand, there are also fewer deals available as they don’t need to offer incentives.
PCP (personal contract purchase) agreements are also impacted by increases in interest rates, pushing car financing up even further than buying with cash. This means these issues may disproportionately impact lower earners.
Outlook
Even though manufacturing of essential parts has started up again, there are still so many global supply chain challenges. Some manufacturers are no longer accepting orders because waiting lists are getting out of hand, with many people in line given an estimated delivery time of over a year.
For most, the combination of low supply, high waiting times, expensive PCP contracts, lack of incentives and escalating second-hand prices means you may struggle to purchase your ideal model for a while to come.
Lease options are a good option for many people who don’t want to compromise on the quality of the model they drive. Since entering the market as a purchaser is currently a fraught investment, a car lease deal lets you choose your desired model. This way, you won’t struggle to source it, pay over the odds, or need to buy an older version because of limited availability.
