The UK’s most popular vehicles are selling at a higher price. In fact, the price of some popular cars is increasing up to three times faster than average earnings. Especially the price of renowned automobile companies like Ford Fiestas, VW Golfs, and Vauxhall Corsas is increasing remarkably.

Drivers who are trying to purchase a car have to pay around £10,000 which is much more than what they needed to pay a decade ago. As the price of food, energy, and other household items are increasing, people of average earning experience significant pressure to maintain household finances. The motoring experts also admitted that the price of cars is rising faster than wages. 

Recently published their findings of car prices on their website. They shared details about the cost of some favorite vehicles like Ford Fiestas, Vauxhall Corsas, and VW Golfs. In that report, they mentioned that the cost of cars will double within a decade. But the average salaries of people haven’t been rising at the same rate. They also stated that the price of second-hand cars is also rising. The motorist pockets, coronavirus pandemic, and the high cost of fuel are the main factors behind the abnormal rise of price in the car market.

The UK market is also experiencing a sharp turnaround in the value of second-hand cars. A slow-down in new car production due to the global pandemic and subsequent problems are also responsible for the current price hike. 

Car insurance expert Joel Kempson said, “With the purchase price of popular cars having risen at a faster rate than our average wages, it could mean that more people will struggle to afford a vehicle, especially first-time drivers.”

He also explained: “A full nine months of continuous price rises finally came to an end in August, but that’s really no comfort at all to drivers who have been paying considerably more to fill up this summer than last year.”

Then he concluded, “What isn’t in dispute is just how much more expensive this second ‘staycation’ summer has been for drivers compared to 2020. With so many of us covering long distances this year, the effect of paying around 20p more per liter for petrol and diesel is likely to have been widely felt.”