November 15, 2008

Drivers downsize as challenging economic conditions begins to bite

Over A Third of used car buyers are looking to counteract rising motoring charges and challenging economic conditions by downsizing to a smaller more cost-effective car.

According to a survey carried out by Glass’s Guide used car valuation guide, 38 per cent of buyers cited fuel prices and rises in road tax for heavier polluting vehicles as factor motivating them to swap their car for more compact and efficient model. The poll also revealed that a growing number of motorists are switching to diesel as a way of cutting running costs, despite recent rises in the cost of diesel making it much harder to recoup the premium on the price of diesel cars.

Of those surveyed 29 per cent stated an intention to exchange their petrol vehicle for a diesel model, expecting to take advantage of significant reduction in Co2 emission and fuel consumption.

Managing Editor of Glass’s Guide, Adrian Rushmore, said: “This new survey illustrates how attitude towards higher-polluting cars are hardening. Household budgets are being squeezed ever-more tightly, and consumers are looking for new ways to reduce their outgoings. The findings highlight just how keen motorists are to cut the cost of owning and running their cars. Concerns about running costs are not likely to go away, and we expect further shifts in demand during the short and medium term.”

But he added a note of caution for those thinking of moving to diesel.

“There are certainly benefits to driving a diesel, with greater fuel efficiency and lower vehicle excise duty. But buyers need to be aware that these models tend to cost more to purchase than their petrol counterparts, and it can take years to recoup this cost. It is advisable to calculate estimated annual fuel costs and depreciation, for example, before committing to a diesel-powered Car.”

Britannia Driving School’s fleet of manual and automatic tuition vehicles include diesel as well as petrol cars.

Leave a Reply

Your email address will not be published. Required fields are marked *