COVID-19 has affected every area of our lives, from how we interact with others to how we travel. Unsurprisingly, it's also changed the way we shop, even for costly purchases like new and used cars. Now, more people than ever are swapping showrooms for virtual auctions, digital catalogues and online marketplaces.
However, the virus’s seismic impact on the automotive industry extends far beyond how we buy cars – it’s also changed what cars we want to drive. In this post, we’ll discuss which cars will be popular in the coming months and years.
Used cars over new
When you think of popular cars, you might imagine stylish new models equipped with the latest technology. However, the current instability of the job market and subsequent financial strain is leading many to buy quality used or nearly new cars instead.
Even before COVID-19, affordability was the leading factor in why people purchased used cars. Not only is the initial price much lower (often between 30-50%), maintenance and insurance are usually cheaper too. Additionally, thanks to the current travel restrictions, manufacturers are experiencing difficulties with international imports, resulting in lengthy delays to purchase new models.
Motorists are going green
With fewer cars on the road, creating a never-ending symphony of bangs, clatters and roars, many people rediscovered the joys of birdsong during lockdown, with experts dubbing it the “silent spring”. However, it’s not just noise pollution that cleared up considerably. London’s smog vanished, fish reappeared in the typically murky waters of the Venice canals and coyotes casually wandered across the Golden Gate Bridge.
The virus showed us what life could look like if we lived more in accordance with nature, revealing a greener world where human activity was much less intrusive. As a result, many people started to think about how they could preserve this peace moving forward, starting with how they travel.
According to one study on over 1,000 people in the UK, 25% of motorists want to purchase an eco-friendly vehicle after seeing a decline in pollution during lockdown. Those from key cities, such as London, Liverpool and Sheffield, are especially keen to make the switch. Official figures cited in The Times bolster the study’s findings, showing 33,000 pure electric and hybrid cars were registered between April and June, compared with 29,900 diesels.
Focus on family-friendly models
Thanks to the current travel restrictions, people are swapping holidays in far-flung locations for trusty staycations, increasing the demand for reliable, family-friendly cars.
Recent research shows 90% of UK holidaymakers are planning to take a domestic holiday once the government lifts coronavirus restrictions. Therefore, people are now searching for cars that prioritise space, number of miles per gallon and all-weather performance over gadgets, gizmos and garish designs. What’s more, the increase in finance plans means finding an affordable family-friendly car has never been easier.
How we can help
Whatever car you’re looking for, our goal at My Car Credit is to make securing car finance as simple and accessible as possible.
Rates from 6.9% APR. Representative APR 13.9%
Evolution Funding Ltd T/A My Car Credit
Require more help?
Got a question you can’t find the answer to, or need some advice and guidance around taking out car finance? Our Car Credit Specialists are friendly, experienced, and here to help so get in touch today!