www.cap.co.uk/car-valuation
Whilst white used to be a free colour choice from manufacturers, figures from cap hpi reveal that eight out of the top 10 new car models ordered in 2015 added an extra premium of at least £250 to go a whiter shade of pale. However, one in five new cars sold in 2015 was white, making it the most popular colour for car buyers for the third year running*. For those who want a car that looks pure as the driven snow, but for a lesser price, cap hpi puts the spotlight on those models which still come with an option to have white for free.
Last year, over 2.6 million new cars were registered and more than half a million of them (21.4%) were white, reported the SMMT. Indeed, the popularity of white has grown by over 2%, since 2014. However, cap hpi analysis of the new car market reveals that the only two models in the 2015 top 10, offer white as a no-cost option; the Audi A3 and the Mini Hatchback.
Among the models that are offered in white as a ‘premium’ option, the Ford Fiesta and Ford Focus are the cheapest at £250 extra. Next comes the Volkswagen Golf at £260 and then the Vauxhall Corsa at £275 for plain white, but metallic white comes at a hefty premium of £545.
“It’s interesting to see that manufacturers have noticed the rising popularity of white cars here in the UK. As it’s become more desirable, it makes business sense for manufacturers to start charging extra for the snowy tones,” explains Mark Norman, Managing Consultant and Chief Residual Value Optimisation Analyst of cap hpi. “Buyers should be wary of paying extra for more unusual tones, just because they’re on trend now - for example the SMMT has reported that mauve, orange and yellow cars are in demand - as it could make your car difficult to sell once that colour goes out of fashion.
“It’s also interesting to learn that manufacturers change standard non-cost colours in different regions of Europe. For instance, the non-cost Fiesta colour in Germany is Blue and they charge €200 extra for Red or €150 for white. Their standard metallic charge is €565. In France they don’t charge extra for solid colours and standard metallic cost €500. In Spain Blue is non-cost, red and white cost €200 and standard metallic costs €425 and in Italy the standard colour is red, solid blue will cost you €300, white €400 and standard metallic €600.
“However, here in the UK, those that spent that extra £250 spent on a new Ford Focus or VW Golf two or three years ago, will get that back if they decide to sell in the current used car market, making it a sound investment. However, with so many white cars on the road today, that may not be the story by 2018. Look back a decade and some cars weren’t available in white because it didn’t sell, whilst black was the hottest colour on the road. The trick is to avoid being caught out at the tail end of a colour trend, leaving you trying to sell a car in a colour that nobody desires anymore.”
*Society of Motor Manufacturers and Traders (SMMT)
END
March 2016
Notes to editors:
HPI and cap are two of the most recognised brands in the motor industry. cap is recognised as a leading provider of data and insight to the automotive industry. Its award-winning used car pricing and technical information has been trusted for more than 30 years.
Established in 1938, HPI is a primary source of vehicle information for the UK motor industry and motoring consumer. HPI encompasses both the HPI database of all UK road registered vehicle descriptions and histories, and the National Mileage Register (NMR) which holds in excess of 200 million mileage readings.
The two brands create the only UK-based business with decision support data and software solutions spanning vehicle valuation, validation, collision and mechanical repair and total cost of ownership.
Both cap and HPI operate as part of the Solera Group of Companies. Solera is a leading provider of risk and asset management software and services to the automotive and property marketplace, including the global P&C insurance industry. Solera is active in over 75 countries across six continents.
For more information contact:
Charlotte Hart, Madeleine Roles, Ally Redding or Justine Hoadley on 0208 977 9132
or
Nathan Lane on 07447 921654 or 0113 3571250
Email: caphpi@harrisonsadler.com