Taxi drivers are frequently faced with the decision as whether to purchase a new taxi or a used one. The final decision is often down to affordability with many taxi drivers having to fund a purchase on finance rather than paying outright for a vehicle.

You may find it of interest to read that new car registrations in the UK dropped in October 2024 when compared with October 2023 according to data published by the Society of Motor Manufacturers and Traders (SMMT).

In October 2024 the number of new cars sold in the UK amounted to 144,288 compared to 153,529 in October 2023. That is a considerable fall of 9,241 new cars that is a drop of 6.0%. These are rather disappointing figures and probably will concern many within the motor trade industry.

The number of new diesel cars sold in October 2024 fell by over 205 and new petrol fuelled car sales dropped by over 14% when compared with the same month in 2023.

On a positive note, new Battery Electric Vehicle (BEV) sales rose by over 24% when comparing October 2024 with October 2023.

However, on a year to date basis to October 2024, new car registrations amounted to 1,658,382 compared to 1,605,437 for the same period in 2023. That is a rise of 52,945 with this being a jump of 3.3%.

Let us hope that the remainder of 2024 sees a turnaround in new car sales as it can only benefit the UK economy.

The top 5 selling new cars in October 2024 in the UK were: –

1. Kia Sportage 4,533
2. Ford Puma 3,521
3. MINI Cooper 2,921
4. Volvo XC40 2,675
5. Volkswagen Tiguan 2,477

On a year to date basis to October 2024 the top 5 selling new cars in the UK were: –

1. Ford Puma 42,465
2. Kia Sportage 42,115
3. Nissan Qashqai 35,271
4. Nissan Juke 30,548
5. Volkswagen Golf 29,427

As a taxi driver, you have a huge choice of new cars to choose from if you are currently considering changing your vehicle. Your decision will no doubt be based upon a variety of factors including passenger capacity, running and fuel costs as well as the capital outlay.

Whilst writing, if your taxi insurance is coming up for renewal shortly or you are looking for such cover for the first time, why not get in contact with us to get a no-obligation, competitive quote.