Six in ten (60%) motorists plan to purchase or lease a automobile throughout the subsequent twelve months.
That’s the important thing discovering of the most recent ‘The Highway Forward’ analysis from Shut Brothers Motor Finance.
1 / 4 (24%) of UK adults say they’ll purchase or lease a used/second-hand car within the subsequent 12 months.
Relating to gas sort, petrol vehicles proceed to high the record regardless of the looming ban on new petrol and diesel autos, with virtually a 3rd (32%) of these surveyed claiming they’re going to go for one.
And one in eight (12%) will look to get a diesel automobile within the subsequent 12 months. Hybrid autos got here in because the second most preferable possibility, with 1 / 4 (26%) seeking to buy or lease one, while one in seven (14%) will go for a pure electrical car displaying the need to modify to electrical.
Lisa Watson, Director of Gross sales at Shut Brothers Motor Finance, stated: “The demand within the automobile market has been sturdy all through 2023, and is starting to return to pre-Covid ranges.
Gross sales, in addition to manufacturing, are accelerating – newest figures present the UK new automobile market achieved an eighth consecutive month of development. And this pattern seems set to proceed with extra automobile homeowners planning to purchase a automobile than not.
“The rise within the reputation of AFVs signifies how the customers are taking nice steps on the highway that results in the eventual phasing out of petrol and diesel autos. Though the recognition of petrol stays in place for customers for now.
“The second-hand market is seeing an inflow in demand as extra individuals search inexpensive choices. However in an effort to meet this demand, the onus stays on automobile sellers to utilise accessible perception to inventory forecourts and meet fluctuating demand.
“And that will stay tough following a 12 months by which gradual manufacturing hindered the brand new automobile market and thus the second-hand market. Automotive-buyers might have to be ready to buy round if there’s restricted inventory or lengthy ready occasions for the automobile they need, and converse to automobile sellers to make sure that they’re getting the correct model, engine sort and finance possibility for them.”
