5. Car buyers are looking for premium or budget
New car registrations may have hit a record 2.6 million in 2015, but the UK car market appears to be splitting into two distinct sectors: budget and premium.
Premium models made up half of Auto Trader’s most viewed online car adverts over the last six months, spurred on by the availability of competitive finance in both new and used vehicles. BMW
models, for example, account for three of the top 10 most viewed full page adverts on Auto Trader in the last six months, and the company recently revealed that more than 90% of all new BMWs ordered are bought via Personal Contract Plan (PCP).
It also means that the traditional middle road occupied by Ford and Citroen, for example, is under threat. Hence why we’ll be seeing more model initiatives like the Ford Vignale
, to elevate the status of this and other blue-collar brands.