Online used car marketplace heycar reveals its most popular models of 2022.
heycar’s new Used Car Price Index gives a snapshot of average used car prices and shows that the used car market may be softening.
The average asking price of a three-year-old car has fallen by 8.20% since the start of 2022.
Online used car marketplace heycar has revealed that its most popular used vehicle this year isn’t a car, it’s a van.
The Ford Transit Custom has topped the list of heycar’s most popular models so far in 2022*, appealing to tradespeople and delivery drivers, as well as consumers who are downsizing to one vehicle or looking for a versatile van-based MPV. The Transit Custom is available as a panel van or as a nine-seater Kombi family vehicle and can be hired via ford transit custom lease.
heycar has seen a 26.8% increase in demand for the Transit Custom in 2022 compared to the same period last year**, while overall there has been a 60.8% increase in demand for vans in the second quarter of 2022 compared to the second quarter of 2021.
This time last year it was one of the UK’s most popular SUVs, the Nissan Qashqai, which was the favourite among heycar’s used car buyers.
However, in 2022 the Transit Custom has beaten the Qashqai as the most popular vehicle for used car buyers. The Transit Custom also comes out on top of all vehicles with a 21- and 22-plate.
The Transit Custom’s rise is part of an overall growth in demand for used vans at heycar, which has been fuelled by the surge in home deliveries since the start of the Covid-19 pandemic.
This has seen the Volkswagen Transporter also feature in both lists – second behind the Transit Custom for vehicles registered from 2021 and 2022 and the tenth most popular used vehicle overall.
Commenting on the trend, heycar’s Consumer Editor Sarah Tooze says: “It’s reflective not only of demand for vans from self-employed drivers and tradespeople, but also of consumers changing their lifestyles.
“Families have been downsizing to one vehicle either because they don’t need more than one any more due to homeworking or because they have been forced to by costs, particularly with the record fuel prices we’ve seen this year.
“For large families who only want one vehicle, it makes sense to choose something versatile like the Ford Transit Custom Kombi.
“The rise of the staycation is also likely to be influencing buying decisions this year. People are fed up of the travel chaos at airports and that makes being able to jump in your vehicle – one big enough to accommodate a large family or lots of friends as well as luggage – appealing.”
Oliver Rowe, Ford product affairs manager, said: “The Ford Transit Custom was the UK’s top-selling vehicle among both passenger and commercial vehicles last year, and remains so 2022 to date.
“So we’re delighted to see it is also proving popular with used vehicle buyers on heycar this year.
“The army of Ford Transit drivers, and the companies employing them, depend on their vans — just as homes, businesses and other customers depend on their deliveries.”
Used car prices are falling in 2022
The findings come as heycar launches its Used Car Price Index – a monthly snapshot of average used car prices for three-year and five-year-old vehicles on heycar.
The heycar Used Car Price Index analyses data from over one million cars for sale. Pricing factors include fuel type, body style and mileage.
The latest data shows signs that the used car market may be softening with prices falling in 2022. The average asking price of a three-year-old car in July was £19,899.50, that’s 0.59% lower than the month before and 8.20% down on January 2022.
Older used cars have seen a bigger drop with the average asking price of a five-year-old car being £15,946.65 in July, 11.53% lower than it was at the start of 2022.
“These are indications that the cost of living crisis is having more of an impact on car buying behaviour, resulting in a drop in demand,” Sarah says.
“However, average used car values are still ahead of this time last year with a typical three-year-old car’s price up 6.67% and a five-year-old up 14.51%.”
The most popular used vehicles on heycar in 2022*
- Ford Transit Custom
- Land Rover Range Rover Evoque
- Volkswagen Golf
- Nissan Qashqai
- Mercedes-Benz C-Class
- Mercedes-Benz A-Class
- Mercedes-Benz E-Class
- Ford Ranger
- Ford Fiesta
- Volkswagen Transporter
The most popular used vehicles registered from 2021 and 2022 on heycar
- Ford Transit Custom
- Volkswagen Transporter
- Volkswagen Golf
- Kia Sportage
- Hyundai Tucson
- MG ZS
- Nissan Qashqai
- Cupra Formentor
- Ford Ranger
- Mercedes-Benz A-Class
Key findings from the heycar Used Car Price Index
- The average asking price of a three-year-old car in July 2022 was £19,899.50.
- That figure is 0.59% lower than June 2022 and 8.20% down on January 2022 but still up year-on-year (by 6.67%).
- The average asking price of a five-year-old car was £15,946.65 in July 2022.
- That figure is 11.53% lower than in January 2022 but 14.51% up on July 2021.
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