Cabbies ditch buying new cars as soaring costs triggers huge surge in demand for used vehicles, according to new The Taxi Centre data
- Perry Richardson
- Jul 31
- 2 min read
Updated: Aug 2
Taxi and private hire drivers are increasingly opting for used vehicles as mounting operating costs reshape purchasing decisions across the industry, according to new data released by The Taxi Centre.
The vehicle supplier says visits to its used vehicle pages have increased by more than a third over the past year, while enquiries for pre-owned models have more than doubled. The figures point to a growing shift in buying habits as drivers look to reduce upfront costs while continuing to meet licensing requirements.
The change comes as many drivers continue to face financial pressure from higher vehicle prices, rising insurance premiums, increasing maintenance and running costs, and tougher competition for passenger bookings. Those factors are encouraging drivers to reconsider whether buying a brand-new vehicle remains the most commercially viable option.
The Taxi Centre says many customers are instead choosing nearly-new or approved used models, allowing them to upgrade their vehicle at a lower cost to buying new without compromising on passenger comfort, reliability or compliance with local authority licensing standards.
Among the vehicles attracting interest is the Toyota Corolla Touring Sports, which remains a popular choice within the taxi and private hire sector due to its reputation for reliability, fuel efficiency and low running costs. The company said many nearly-new models offer similar levels of safety, technology and passenger comfort to new vehicles.
The trend has prompted The Taxi Centre to expand its focus on approved used stock. By drawing on inventory from parent company Vertu’s network of almost 200 dealerships, the business says it can offer drivers a broader range of vehicles alongside nationwide delivery and advice tailored to local licensing requirements.
Stephen Porter, Branch Manager at The Taxi Centre, said: "What we're seeing is a significant change in buying behaviour amongst professional drivers.
"Historically, many drivers would automatically look at purchasing a new vehicle, but increasingly they are asking whether a carefully selected, high-quality used vehicle makes more financial sense for their business.
"The volume of enquiries we're receiving shows that affordability has become a major consideration. Professional drivers are making commercial decisions about how best to invest their money in a challenging economic environment.
“Drivers are looking for ways to manage costs while still providing a professional service and meeting the expectations of passengers and licensing authorities.”
