Research carried out by Motoring.co.uk has revealed a 50% growth in the number of people looking to buy a new 4×4 vehicle, in the 6 months leading to September.
In September, Think Insurance shared some top tips for buying a car, one of which was to buy out of season. So if you are in the market for a convertible, avoid buying one in the summer months, likewise if you fancy a 4×4, get one before the winter months hit, to keep the price down.
It looks like people have been following the advice. Co-founder of Motoring.co.uk comments, “Our data shows that consumers are searching for new 4x4s early, before we start experiencing heavy snowfall and prices start to rise sharply”.
And interest in used 4×4’s is also on the rise. The average cost of a used 4×4 in July was around £10,300 compared to £12,500 in August and £12,800 in September, according to figures from British Car Auctions (BCA).
This trend was echoed by Manheim Remarketing, who saw values of used 4×4’s rising by 3% in August.
The Managing Direct at Manheim Remarketing, Mike Pilkington, comments, “The demand for 4×4 stock has started to move early this year with memories of the harsh winter of 2010 still obviously set firm in the minds of consumers and dealers alike”.
Garrath Hussey, Chief Executive at Think Insurance, comments “With lots of snow predicted for this winter, 4×4’s are likely to continue to be in high demand, something that Motor Traders and Car Dealers should be preparing for, in order to meet the needs of their customers”.