The number of privately-owned cars could fall in response to
rising running costs, a survey by esure
has found.
Just under half (48 per cent) of all respondents said they were
considering downscaling to one vehicle per household, while 71 per
cent said they were holding back on buying a new car in order to
save money.
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Meanwhile, falling residual values for used cars have persuaded
58 per cent of respondents to hang onto their current vehicle for
longer.
Male buyers are likelier to be tempted into the showroom, the
results suggested, with 67 per cent of men stating that they would
retain their current car for longer in order to save money,
compared with 74 per cent of women.
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By GlobalData
