These days, affordability is at the top of many people's requirement lists when it comes to picking out their next car, and it shows. As of May 2024, used car sales in the UK are through the roof, reaching a five-year high in the first quarter of 2024, with over two million sold - according to the Society of Motor Manufacturers and Traders (SMMT).
At RAW2K, we pride ourselves on our extensive selection of used cars. We stock thousands of salvage vehicles for you to choose from, ensuring you'll have plenty to pick from whether you're looking for something for parts or a new daily vehicle. Our vehicles vary in condition, with some having sustained more damage than others. Still, many may only feature a bit of aesthetic damage, like a scratch or two here and there, with the engine and electrics in perfect working order. So, if you're here because you're also looking for a budget-friendly used car, you're in the right place!
So, why are car sales at a 5 year high?
There are a couple of reasons, and you don’t need to be an expert to know the first one. Let’s be honest, life has gotten pretty expensive these days - and that goes for everything: rent, the weekly food shop, fuel and, of course, cars. Unsurprisingly, it’s this rise in the cost of living that’s leading many people to choose to buy a used vehicle instead of a brand-new one. Still, it’s not just the cost of living crisis at play here; even though the thought of social distancing and face masks has been pushed to the back of our minds nearly five years on, the aftermath of the pandemic is still rearing its ugly head.
The CEO of Warrantywise, Lawrence Whittaker, says that the rising cost of the bills associated with keeping a car has caused an increase in drivers buying a pre-owned car.
He stated: "The latest figures from the SMMT underscore the unique challenges we face today. We're still navigating the aftermath of the pandemic and grappling with an economic downturn that sees costs escalating at every turn. "This has led to a surge in demand for used cars as consumers opt for more budget-friendly options over purchasing new vehicles. Cars like the beloved Ford Fiesta."
And speaking of which…
The trusty Ford Fiesta
According to Warrantywise, the most popular car during the first three months of this year (2024) was the Ford Fiesta, with 80,814 sold - but is anyone really surprised? The Ford Fiesta has long been a crowd-pleaser for several reasons. To start, it's affordable, which is a massive tick for a lot of people nowadays, not just in terms of the upfront cost but also the day-to-day expenses.
Plus, it's got a great reputation for being fuel-efficient, so it's a smart choice in the long haul. It's just the right size for easy manoeuvring too, and it's reliable, scoring 70 out of 100 in a recent reliability study. And let's not forget, it's a good-looking car too. It's the complete package, and it's no wonder it's still a top pick!
Don't rule out a luxury car just yet
Just because many people are choosing to save money and buy used cars instead of brand new cars, that doesn't mean a stylish and suave car is off the table. Quite the opposite, in fact, quite a few smaller luxury cars made it into the Top 10 best-selling used cars of Q1 2024, including the BMW 3-Series, Audi A3, along with the larger Nissan Qashqai SUV. So there are still some reasonably priced luxury cars out there if you're looking. The rest of the top ten is taken up by some familiar names like the Vauxhall Corsa and Astra, Ford Focus and Volkswagen Golf and Polo.
But while plenty of new cars are still painfully expensive, there's still a wide range of great options available for used cars. You can find a dependable vehicle that suits your needs at a fantastic price, whether you're a mechanic looking for parts or someone looking for their next daily vehicle right here at RAW2K. What's not to love about such a diverse and affordable selection?
What's more, we update our online car auctions daily and weekly. We also include makes and models available from some of the world's leading manufacturers and, as we know now, firm public favourites like Volkswagen, Ford, Renault, and many more. Why not take a look at our online auction and see what you can find? There's always a great deal waiting for you!
