10:53 am, November 18, 2010
RESEARCH into motorists’ buying habits has been carried out by BCA – and the situation does not look good.
The auction house found that 54 per cent of motorists across the UK would not be replacing their car during the economic downturn – with some regions tightening their purse strings more than others.
Their research found that in the South East, 53 per cent said they are ‘playing a waiting game’.
In the North, 49 per cent of motorists said they would not be buying a car any time soon, with Scotland and the West Midlands following with 50 per cent. Meanwhile 51 per cent of East Midlanders said they would not be buying a new car soon either.
But the situation is worse in East Anglia – 64 per cent said they had no plans to replace, while 32 per cent said that if they do replace they will be looking for a car with better fuel consumption.
Tim Naylor of BCA said: ‘Given the continuing economic pressures, the reticence of motorists to commit to their next vehicle purchase is understandable, but the variance in attitudes across the regions does show a changing picture of consumer confidence.
‘Of course, for many their car is absolutely crucial to their livelihood, for getting to and from work and getting the family around. If their current car becomes uneconomical to run or repair, you can be sure funds will be found from somewhere to replace it.’
