Sales of cabriolet cars typically rise sharply in the UK during early summer, but new data from carwow suggests that the current cost-of-living crisis could be having a significant negative impact on drop-top demand.
During the first two weeks of July, when many areas of the UK experienced some of the highest temperatures ever recorded, enquiries for new and used cabriolets and convertibles via the carwow platform actually fell by 59% compared to the same period in 2021. Enquiries in the first two weeks of July were also 14% lower than during the final two weeks of June 2022, and 9% down on the first half of June.
“The UK is one of the biggest markets in Europe for convertible sales. In a typical year we might see demand rise further due to a sustained period of good weather, yet this year the trend is clearly very different,” comments Hugo Griffiths, Consumer Editor at carwow. “The enquiry levels we are seeing on our own platform, and those reported by our dealer partners, suggest that the cost-of-living crisis could be curbing demand. Convertibles are often seen as luxury purchases, and that might be out of step with the current economic climate where ongoing rises in household bills dominate the headlines.”