New data from car sales website Carzone.ie has revealed that motorists are more likely to consider buying a car on January 25 than on any other day of the year. This prediction, the company says, is derived from data from previous years as well as website and app traffic.
According to Carzone's Audience Manager, Karl Connolly, the "25th of January is the day when people begin to seriously consider purchasing a new car and start researching the market," the reason behind which he attributed to buyers' desire to make "new beginnings in January".
Research by Carzone also showed that out of those currently in the market to buy their next car, more than two-thirds (69 per cent) planned to make their purchase in the next three to twelve months.
Other data from the company showed that its most-viewed model last year was the Volkswagen Golf (which was also its most popular petrol model); its most popular hybrid and diesel model was the BMW 5 Series, while the most-searched-for electric car on its site was the Nissan Leaf.
While these may be Carzone's most popular and searched-for models, they don't line up exactly with figures from the Society of the Irish Motor Industry (SIMI) showing that Ireland's best-selling model last year was the Hyundai Tucson with the Volkswagen ID.4 taking top electric honours. The discrepancy is likely indicative of the influence of second-hand buyers on Carzone's numbers.
Buyer challenges
Regardless, however, of whether buyers are opting for new or second-hand cars, both face challenges when it comes to supply and pricing. The global semiconductor shortage has reduced the supply of new cars and increased delivery times leading many to choose second-hand models instead. This presents its own issues in that it has, in turn, reduced the supply of second-hand cars, a problem compounded by the fact that the availability of second-hand cars from the UK has already reduced due to changes to VAT and VRT rules in the wake of Brexit. Imports of used cars were down a massive 44.2 per cent compared to 2019. The price of used cars has, accordingly, increased by 56 per cent, badly hitting buyers in the pocket.