11:28 am, December 21, 2022
The Volkswagen Golf proved to be the most popular used car of 2022 for a finance firm’s customers.
Close Brothers Motor Finance has revealed its top 12 financed cars over the course of the year – with diesel proving popular and EVs not faring so well.
Lisa Watson, director of sales at the Car Dealer Power award-winning company, said: ‘Interestingly, the most-financed variants of some of the top cars, such as the VW Golf, Ford Focus and Range Rover Evoque, are all diesel-powered vehicles.
‘With the cost-of-living crisis and pressure on household electricity bills, coupled with the initial upfront cost of electric cars, it is perhaps not surprising that consumers are still opting for diesel cars.
‘With the recent announcement that the government will introduce vehicle excise duty on electric cars from 2025, there is little to drive the adoption of alternative-fuelled vehicles in the new year.
‘The results show that hatchbacks and mid-size saloons remain the most popular options for consumers, with cars such as the VW Golf, BMW 3 Series and Ford Fiesta remaining on the list from 2021.
‘This is unsurprising, given the lower costs, versatility and ability to be used as suitable family vehicles.’
She added: ‘This year has thrown a new set of challenges at the automotive industry.
‘While the industry was still in recovery and feeling the effects of the pandemic, the war in Ukraine has laid down fresh hurdles for manufacturers.
‘As a result, semiconductor shortages have stumped car dealers and retailers across the UK, whose pricing models have been thrown into disarray thanks to a lack of available stock.
‘This placed significant demand on the used markets, where prices became heavily inflated as a result.
‘Although this has opened up opportunities for the used market, dealers have been under pressure to stock used forecourts to meet new levels of demand.
‘Recent production figures have offered a glimmer of light at the end of the tunnel, but it’s likely that supply issues and constraints will remain a predominant challenge in 2023.’
Top 12 financed cars in 2022
- Volkswagen Golf (pictured at top)
- Ford Fiesta
- BMW 3 Series
- Ford Focus
- BMW 1 Series
- Mercedes C-Class
- Vauxhall Corsa
- Audi A3
- Nissan Qashqai
- Mercedes A-Class
- Mercedes E-Class
- Range Rover Evoque
Source: Close Brothers Motor Finance
And while costs and benefits were the primary factors influencing buying a car, 68 per cent of 2,005 consumers quizzed for Close Brothers also found something annoying or undesirable about modern cars.
Seventeen per cent said warning sounds and alerts were irritating, while 16 per cent didn’t like the lack of a CD player in modern cars and 15 per cent hated electronic handbrakes.
Other annoying factors included voice assistants (15 per cent), touchscreen controls (12 per cent), styling (nine per cent) and reversing cameras (eight per cent).
