Yellow is the new black
What new car colour do buyers really want?Yellow cars are the most coveted. That’s the answer to the question carsales’ own researchers asked and answered this week.
It may sound absurd at first, but data gathered from millions of searches via Carsales.com.au's Insights and Analytics department show that in terms of views per numbers of cars in stock, yellow cars were more sought after than any others.
Orange was the next most desirable exterior car colour.
The statistics lend weight to the fact that 'hero' colours for halo cars and exotic vehicles maintain a strong following among buyers searching on carsales.com.au, Australia's number one automotive website and marketplace.
Sam Granleese, carsales.com.au's head of Insights and Analytics, explained that yellow cars attracted more views per vehicle for several reasons.
"As well as emotional reasons, in this instance we see a 'per capita' spike in the views of yellow cars because they are usually associated with the special or the exotic.
"Simply put, theses vivid colours pique the interest of buyers."
The same data showed the two most searched-for car colours overall, regardless of numbers of cars in stock, were black and white, with 27 and 26 per cent of searches respectively. Silver (11%), blue (10%) and red (7%) followed.
Black and white exterior colours are deemed sensible shades in terms of car investment, as demand is usually strong come resale time. In other words, black and white cars are generally sold more quickly in the used-car market.
That said, selling a car quickly does not mean it will result in a higher purchase price. In fact it's sometimes the opposite. While a yellow car may attract fewer overall customers, in the long run, more daring colours can yield high resale values.
Ross Booth, managing director of Redbook, Australia's authority on vehicle specification and prices, explains.
"Bolder colours can and often do attract higher prices. Bolder colours' supply tends to be limited and a buyer who wants a bold colour will be prepared to pay more; it just may take longer to find them," Booth stated.
The search data was collated from carsales.com.au, which logged almost 19 million visitor sessions in January 2014 including apps and mobile devices.
The moral of the story? Yellow cars may be few and far between, but what they lack in volume they make up for in desirability.
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