General

UK’s 10 best-selling car prices soar by more than 20 percent after pandemic

Vauxhall Corsa SE

The auto industry is in disruption and demand for both new and used vehicles has risen over the past two years, partly due to the pandemic. In fact, according to a report by BestBrokers, an online trading service platform, new car prices have risen significantly.

The report finds that the prices of the top 10 best-selling vehicles increased by an average of 20 percent between 2019 and 2022. It attributes factors such as the insufficient supply of semiconductor chips, which has caused the prices of certain vehicle models to rise almost double. .

Supply has not been able to easily catch up with demand, leading to difficulties in purchasing a new vehicle and above all making the concept of buying a new vehicle expensive.

According to the data, the Vauxhall Corsa SE, the UK’s best-selling car, saw its price rise nearly 52 percent, to £13,704 from £9.98 in 2019.

The other models in the Top 5 sold include the price increase of the Ford Puma by 16 percent, the Nissan Qashqai by 20 percent, the Mini Electric by 3.75 percent and the Kia Sportage by 21 percent, respectively.

“While the prices of the best-selling cars in the US have increased by up to 22.2% over a 3-year period, the top sellers in the UK have risen much more – to over 52% by 2022. This can be justified by a number of factors including rising inflation due to energy supply concerns, chip shortages and the conflict in Ukraine,” said Alan Goldberg, market analyst at BestBrokers.

EVs

It is interesting to note that nearly half of the top 10 selling vehicles in the UK are electric or hybrid, demonstrating the increasing demand and customer acceptance for green vehicles.

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