The BMW 1 Series was one of the most desirable used cars in March, according to new auction data from Aston Barclay.
The remarketing specialist said used car dealers have been continuing to source smaller hatchbacks for their forecourts in high numbers in Q1.
This is due to smaller hatchbacks seeing a faster stock turn, which in turn can help with cashflow in the current high interest trading environment.
Fellow German premium small hatchbacks like the Mercedes A Class and Audi A3 were placed in second and third place, which shows even when drivers are impacted by a higher cost of living caused by higher interest rates, they generally opt for a premium ahead of a volume brand.
The VW Golf secured fourth place while the Ford Fiesta model in fifth is still in high demand even though prices keep rising due to the car no longer being in production.
The popular price bracket for smaller cars is currently between £10-15,000, with dealers competing to source the right models for their forecourts to meet demand.
Aston Barclay March 2024 desirability index:
Nick Thompson, Aston Barclay chief customer officer, said: “We have continued to see high numbers of smaller cars coming through the halls in February and March.
“With interest rates and cost-of-living increases, buyers are conscious of price, but many appear to still be looking to get behind the wheel of a premium brand German car when their budget allows.”
Five of the country’s most consistent performing used cars all took the remaining five positions in Aston Barclay’s March index with the Fiat 500, Ford Focus, Mini Cooper and Vauxhall Corsa and Astra models providing stylish and reliable motoring at an affordable price point.
Thompson added: “The small family car looks set to continue as the most in demand car type with dealers in the current market.
“The 24-plate should help provide the market with an additional supply of small cars during March and early April although with a high demand, we don’t expect prices to be impacted by this additional supply.”
Aston Barclay’s monthly desirability index takes into consideration three key metrics: web views prior to sale, number of physical and online sale bids, and sale price achieved as a percentage of CAP average.