Households 'reducing car numbers'
Updated on 03 October 2008
The credit crunch is causing car owners to consider reducing the number of vehicles in their household, a poll has revealed.
Rising motoring costs are also leading to car owners holding on to their current vehicle for longer, the survey by esure car insurance found.
Of the 1,006 adults polled, 48% said they were thinking about downscaling to just one vehicle per household.
Also, 71% said they were resisting the urge to buy a new vehicle so they could save money, with 58% of all those questioned citing the economic slump as a reason for keeping their current car longer.
Drivers in north east England were the keenest to reduce the number of cars in their household, with north west England motorists the most reluctant to do this.
Men were more likely to splash out on a new car than women, with 74% of females happy to hold on their current motor for longer, compared with only 67% of men.
Esure car insurance head of risk Mike Pickard said: "With the combined effect of rising motoring costs, high fuel prices and the credit crunch adding strain on motorists' pockets, it comes as no surprise that UK drivers are opting to reduce the number of vehicles they own.
"The fact that they're also keeping their cars for longer is proof that UK drivers are becoming increasingly conscious of keeping motoring costs down."
The survey findings come ahead of official figures due out next week which are expected to show a big dip in UK new car sales for September compared with the same month last year.
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