- Grey dominates UK car colors
- Financial sense of conservative hues
- Green makes unexpected comeback
Put away the Just for Men: It appears that the British are gracefully going grey.
Grey dominated the new car colour listings for the sixth consecutive year in 2023, according to data from the Society of Motor Manufacturers and Traders (SMMT).
In 2023, registration saw 509,194 grey cars, indicating a 22.6% volume growth compared to 2022. This upward trend indicates that Britons persist in favouring monochrome hues for their vehicles.
In fact, over one-fourth (26.2%) of newly registered automobiles were grey the previous year. However, there is a compelling rationale behind the majority’s selection of one of the most unremarkable paint options…
Although the new car market experienced its highest-performing year since the pandemic in 2023, consumer preferences regarding paint options remained unchanged. Black and white remained the second and third most favoured hues, respectively.
It indicates that the top three base colours have remained unchanged for the past six years, which is highly predictable given the number of new car purchasers in the United Kingdom.
In 2023, the monochrome triumvirate comprised approximately 63.5% of all new vehicles observed on British roadways.
However, the British are justified in their decision to remain conservative with these hues despite the fact that they may appear uninspiring.
Due to the fact that grey automobiles make excellent financial sense.
The colour of a vehicle can significantly affect its residual values.
Colour Impact on Car Market
A vehicle painted in vibrant hues such as pink, orange, or yellow, for instance, will likely have a much smaller customer base than one painted in grey or black. As a result, the vehicle’s resale price and competition are likely to decrease.
And because PCP finance deals, which reimburse the vehicle’s depreciation over a specified period, are utilised by the vast majority of private buyers to finance new cars today, monthly payments may be higher for vehicles in unusual hues, whose residual values are diminished due to decreased demand on the secondary market.
The Ford Puma, the best-selling new car in the United Kingdom in 2023, was the most popular colour, but the Nissan Qashqai was the best-selling grey vehicle.
Blue and red completed the top five in a patriotic fashion, with the former experiencing tremendous growth in popularity.
Blue paint surpassed the fourth most popular new car colour by 10.9% in demand, so we anticipate seeing a significant increase in its usage this year.
Red, on the other hand (which maintained fifth place), has experienced its lowest market share since 2005, and its popularity has been declining since 2019.
However, the most unexpected development of the year was the resurgence of green; the hue frequently linked to renewal, growth, and nature (along with good fortune and hope) attained its most significant market share since 2004.
Verde automobiles dominated the market with a 2.8% share and the most significant volume sold since 2005, totalling 53,426 units; this represents a substantial increase compared to the previous two decades.
Colour Diversity in Car Choices
Although it may appear logical to associate this with the transition towards a more sustainable future, green is not the preferred colour scheme for contemporary electric or hybrid vehicles.
In contrast, shades of grey predominantly characterized zero-emission vehicles’ presence on roadways, setting a registration record this year, akin to petrol and diesel vehicles.
Mike Hawes, chief executive officer of the SMMT, remarked, “2023 was a banner year for the British new car market, as buyers remained attracted to monochrome hues for yet another year – despite the increasing adoption of new technologies by drivers.”
However, mundane monochromes didn’t limit British motorists.
A few pockets of colour were present as individuals cast brilliant hues onto the road.
Six hundred and forty-four registrations were maroon, pink, and ivory automobiles, which was a token of individuality.
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Strathclyde residents showcased their optimistic dispositions by selling 677 registrations of yellow in the region, the most of any county in the United Kingdom.
Furthermore, Barbie enthusiasts should consider relocating to Berkshire as it has the highest registration rate of pink cars—one in every ten, to be exact.
“Automakers have conscientiously broadened their product lines to include tens of thousands of specification options and countless colour options,” Hawes continued.
The wide range of options provides drivers with the flexibility to select a tint that complements their taste and sense of fashion.
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