2:26 pm, December 8, 2022
Half of buyers looking to buy a new car intend to do so before the year is out, new research has found.
What Car? quizzed 1,328 in-market buyers and found that 50.8 per cent of them intended to place an order or buy a car before the end of the year.
The split was in favour of used buyers, of which 60.3 per cent were looking to buy before next year, while 41.6 per cent of new car buyers were expecting to place an order before December 31.
Of the buyers delaying until next year, 32.6 per cent said they were doing so to wait for better offers on cars they’re interested in, and 20.2 per cent said they are waiting to save more.
Another 15.4 per cent stated they are waiting for their lease to end.
What Car? also found 28.2 per cent of new car buyers were looking to buy a fully electric car as their next vehicle.
Just 6.11 per cent of used car buyers are looking at a fully electric vehicle as their next car.
Steve Huntingford, editor, What Car?, said: ‘While demand for new cars is on the rise again, it is noteworthy that the majority of buyers delaying their purchase until next year aren’t doing so because they’re waiting for a new model to come out, but rather to save more or with the hopes that better deals can found.
‘Rising energy prices and cost of living is the next big hurdle for the industry and has the potential to reverse the little growth seen at the tail end of this year.’
