If you feel like Gloucestershire looks a touch grey at the moment, it might not be entirely down to your post-Christmas finances and the weather: despite a year when autogiant FIAT pledged to ban it, the latest data from the Society of Motor Manufacturers and Traders shows that our top choice of car colour continues to be 50 shades of monochrome meh.

Leaping from 22.6% of market share in new cars this time last year, the SMMT's analysis of all UK sales by colour for 2023 showed that our preference for the neutral hue leapt up to 26.8%, with 509,194 cars being delivered to their new owners in ubiquitous grey.

Grey options in metallic or signal paint top the SMMT numbers across 2023, with black in second and... white in third (the same sequence as for 2022). Does this mean we dislike any kind of commitment to colour when investing in wheels?

Mike Hawes, SMMT chief executive, said that despite the data, huge choice is out there: "2023 was a bumper year for the British new car market, as buyers continued to gravitate towards familiar monochrome hues for another year - even as ever more motorists embrace new technologies.

"Car manufacturers have diligently expanded their offerings, with a huge selection of colour options available across hundreds of models and thousands of specification options. The extensive variety allows drivers flexibility in choosing a tint that embodies their individuality and style."

Scratch below the surface of our buying trend and some sound economics are soon obvious: according to the buying and review site Carwow, grey is dominating because it makes sound financial sense - for both consumers and dealers.

Dealers are more likely to stick with colours they know will sell when ordering stock, the website said, while residual values dictate the choice too: "A bright pink car will have a smaller customer base than a grey or black one, potentially reducing its price on the used market."

Furthermore, the wise pound might be a grey pound because most drivers fund new cars using PCP finance, with monthly repayments emerging higher for cars in unusual shades. The lower the future demand in the used market, the lower the projected residual value.

In the used car market, Great Western Cars, based in Gloucester's Granvile Street, has been trading for thirty years and its owner, Naz, told Punchline-Gloucester.com that metallic silver is the preferred choice among buyers.

But he added: "If it's a pretty car, you can get away with selling a bright colour without a price loss. My only stay-away is green, unless it's a 4X4. It's just not popular."

Luring customers, he said, remains difficult amid supply headaches: "Thanks to the economic decisions that have been made, everyone is feeling the pinch, with most activity remaining in the sub-£2,000 market."

Sourcing issues are also a key the challenge: "We avoid auctions but find that the dealer route has seen a drop in the calibre of cars, with many available ones being run into the ground and badly prepared for the price."

He added: "With used sourcing so tough, we can end up saying to customers seeking a certain colour that they might as well go and buy new."

Curiously, conservative car tastes resonate with what's going on at home: according to research from Paint Shed, grey is the number-two most popular choice for interior paint colours and has dominated interior deign palettes for several years. It is beaten to top spot by white, given that few of us would choose anything else for our ceilings.

And if you're finalising the spec on a rental property or fettling hospitality and AirBnB accommodation, veering away from grey towards blues seems safe: Living Etc magazine says that neutral hues are the popular, safe choice – and it reports that upmarket suppliers Farrow and Ball continue to sell more Elephant's Breath than any other colour. 

And yes, that's a shade of grey.