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With 2022 well and truly behind us, it's time to take a look at some of the best and worst sellers of the year. Car prices have been all over the place, particularly in the used market, with various logistics and supply issues slowing the manufacture of new models. This resulted in a huge increase in used car prices, which is only just starting to plateau now.
Let's take a look at what 2022 did to the car industry and what might be in store for 2023.
Electric vehicles saw a huge surge in popularity this year, with more and more drivers realising the environmental and economic benefits of going green. This caused a massive price spike for EVs, with companies like Tesla seeing their market value skyrocket over the course of the year. The company even cemented itself as one of the top car manufacturers in the world, surpassing Toyota in stock market value (this, of course, was before Tesla owner Elon Musk's somewhat erratic online behaviour).
However, we are already starting to see issues with Tesla in the UK, as many news outlets reported queues of drivers trying to get to charging points. This suggests that demand is slightly higher than supply in terms of charging, so this is an issue that remains to be fixed in 2023.
Luxury cars were another big winner this year as well, with high-end models from companies like BMW and Mercedes seeing a large increase in demand. This was likely due to people looking for something stylish and luxurious during the pandemic lockdowns, where luxury goods were some of the few options available for entertainment.
As is to be expected when prices go up, there were some major losers this year as well. Mid-range cars were hit particularly hard, with buyers preferring to either spend more or less depending on their budget. This caused a huge drop in demand for these cars, leading to some manufacturers reducing production or even ceasing operations altogether
The other major loser was diesel-powered vehicles, which have been on the decline since emissions regulations and environmental concerns started putting pressure on diesel engines. This year was no exception and saw a huge drop in sales of diesel vehicles, with hybrid and electric models taking their place.
The biggest selling family car in the UK in 2022 was, unsurprisingly, the Ford Fiesta. This classic British model has been a staple of British roads for decades and its popularity shows no signs of slowing down. The car's low cost, sensible design and great fuel efficiency were all contributing factors to its success this year.
In terms of family SUVs, the best seller last year was the Nissan Qashqai, continuing its long-standing success as one of the most popular models in the UK. Its combination of ruggedness, style and decent fuel economy made it a great choice for many families wanting something practical yet stylish.
The best selling sports car in the UK in 2022 was undoubtedly the Chevrolet Camaro, as this classic American muscle car saw a huge increase in sales due to its affordable price and head-turning design. This is great news for any petrolhead out there who wants something stylish and fast that won't break the bank.
The car that had the most disappointing sales in 2022 was the Fiat 500, despite its iconic design and classic style. This is largely due to the fact that it hasn't been updated for quite some time, meaning buyers are looking elsewhere for a modernised take on this classic Italian vehicle. It's unclear whether Fiat will be able to keep up with the competition in the near future, but it'll certainly be interesting to see what they come up with.
Another car that hasn't done as well as expected is the BMW i8, with sales in the UK failing to reach predicted levels due to its steep price tag and lack of practicality. The car was expected to be a game-changer in terms of luxury electric cars, but it seems that buyers are still looking for something more affordable in this segment.
So, as we look towards the beginning of a new year, we can see that 2022 was a great year for electric cars and luxury models, while mid-range and diesel vehicles saw a huge decline in sales. We expect the trends to continue in 2023, with electric cars and luxury vehicles likely staying popular while mid-range cars remain out of favour.
We can also expect to see car manufacturers continuing to develop new and innovative technologies, with autonomous driving and electric engines leading the charge. However, it's also likely that mid-range vehicles will make a comeback as prices level out and people start looking for options that provide good value for money
We expect to see more advancements in electric vehicles, as technology continues to improve and prices become more affordable. This could lead to a further surge in demand for EVs and hybrids, with the market becoming increasingly saturated
Overall, 2022 was an interesting year for the car industry and 2023 promises to be even more exciting. With new technologies and innovations on the horizon, it's sure to be an exciting time for car lovers everywhere!
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