We all have our favourite colours for cars and we all know how some cars just look ‘better’ in certain colours. But how does this emotional reasoning impact the value of used cars.
YesAuto has spoken to car value expert Cazana to get to the facts and answer questions such as; which colour cars hold the most value, do colours go in and out of fashion and what’s the impact of different colours on different types of car.used car news https://www.yesauto.co.uk/buy/used-cars
Last year grey was the most popular car colour making up nearly a quarter of all new car registrations, and up 8% on 2019. If you argue that grey is just dark silver (or even that silver is just light grey) and lump the two colours together, then almost a third of new cars fall into this category. After all, at what point does dark silver become grey.
Interestingly, last year – during the pandemic – there was an increasing number of people buying more vibrant colours such as orange, yellow and green. However, even combined, these three colours only made up 2.6% of the new car market.
The rise in the number of people buying more ‘standout’ colours could be down to the rise in sales of smaller SUVs which not only can be ordered in brighter colours, but are ordered in brighter colours.
According to Cazana’s data and experts, this year has seen a rise in the values of reds and yellows at much steeper rates than darker colours, and well-ahead of the average used car value performance for this sector.
Cazana uses the example of a two or three year old red Ford Ecosport currently being worth around £500-£600 more than the equivalent car in black.
Demand for brighter colours on mini-SUVs doesn’t carry over to other sectors.
For superminis, where many mini-SUV buyers have come from, differences in values aren’t anywhere near as pronounced.Cazana’s data shows that almost all colours are valued broadly equally and any variation is more likely due to shortages of popular colours, not a rise in demand.