Monday, 6 June 2022
- After years of cars getting increasingly large, consumers are choosing smaller alternatives says The Car Expert
- Electric vehicles continue their growth at the expense of petrol and diesel cars
- “Lower sales don’t mean we have to be gloomy as manufacturer profitability is robust, and buyers are turning away from oversized diesel leviathans in favour of smaller, lighter models,” says Stuart Masson
- Cost of living pressures could put strain on buyers locked into longer finance deals
Consumers are increasingly turning to more compact and affordable cars as the cost-of-living crisis starts to bite, says The Car Expert.
Vehicles which represent good value for money dominate the sales charts, a trend which is becoming clear following publication of the latest SMMT (Society of Motor Manufacturers and Traders) UK car sales data.
“Drivers are turning away from oversized diesel leviathans and are instead choosing smaller or fully electric vehicles,” according to Stuart Masson, Editorial Director at The Car Expert, the UK’s most comprehensive automotive consumer advice site.
Value brands like Dacia and MG are gaining market share and more affordable models dominate the top-10 sellers, including the Vauxhall Corsa, Kia Sportage and Hyundai Tucson. Large SUVs are mostly absent from the higher reaches of the sales charts.
“As consumers increasingly feel the burden of the cost of living, pressures could put strain on household budgets, especially for those locked into longer finance deals which are now typically four years instead of three” added Masson.
The ultra-luxury vehicle market remains robust as wealthy buyers don’t suffer the same need to tighten their belts.
“It is intriguing how after years of cars getting ever larger, we are now seeing habits change as drivers opt for vehicles that are smaller and, in many cases, cheaper too. Drivers are making pragmatic choices. They want a vehicle that meets their needs and, with the challenges of the increasing cost of living, are cutting their cloth accordingly.”
Sales of electric cars are also booming, with its market share representing more than 12% of total sales in May, an increase of nearly 18% compared to the same month last year.
ENDS
The Car Expert
Founded in 2011, The Car Expert is the UK’s most comprehensive automotive consumer advice site. With an audience of over two million readers a year, The Car Expert provides independent and impartial advice on every aspect of buying, financing, owning, and selling new or used vehicles.
The Rotten Tomatoes equivalent for the automotive world, The Car Expert consolidates reviews from 30 of the UK’s top automotive websites to create the Expert Rating Index. Bringing together science and data analysis, the index calculates a weighted average to give an aggregated score – Expert Rating – that is comparable across different brands and models.
The Expert Rating Index factors in the age of each review, so that newer reviews carry more weight than older reviews. It also breaks down the complex web of different scoring systems that various websites use in their reviews.
The Car Expert has logged over 12,000 reviews covering more than 400 cars and over 50 manufacturers, with its Expert Rating Index now trusted as the gold standard for rating and ranking new cars in the UK.
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