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Scrappage boost hides motorists' change in buying habits, says BCA
publication date: Sep 11, 2010
According to definitive data from the UK's leading motor auctions business, British Car Auctions, there is clear evidence that motorists' buying habits have changed in recessionary times. The continued economic downturn is making motorists focus closely on managing their driving costs, which means environmental considerations have taken a back seat in the past 12 months. "The findings from our 20th annual Used Car Market Report suggest motorists have been challenged by what's the best way to control their motoring costs" said Tim Naylor, PR Manager, BCA. "The fear of job loss and rising household and motoring costs certainly appears to be having an on-going impact on car buying plans and saving money at the point of purchase is obviously still the number one priority, along with better fuel consumption and lower road tax. However, there is also a longer-term view being taken by many motorists to opt for vehicles that they plan to keep for a greater period of time." "Another key factor noted in our 20th Annual Report is the emergence of a generation of new car owners, thanks to the Government's scrappage scheme. 38pc of those who bought a new car under the scrappage scheme were buying new for the first time in their lives. "This was a welcome boost for manufacturers and dealers, but raises questions about how long these new car owners plan to hold onto their vehicles and how might this impact on the motor industry in the future? "Two out five motorists intend to buy a used car next time they change, although the number of prospective buyers planning to buy a nearly-new car has fallen to 8pc; compared with 9pc last year and 13pc three years earlier. The mix of used car sales is virtually unchanged over the past two years; hatchback sales accounting for 46pc of the used car market and saloons remaining at 20pc. However, sales of off-road vehicles edged up two points to 7pc of the market, while estates fell one point to 8pc. Diesel-engined cars' share of the used car market has jumped 10pc in the last four years, reaching 36pc this year, from 33pc in 2009 and 26pc three years earlier. This continued trend towards used diesel brings it ever closer to the new car market share of 42pc reflecting the growth in diesel power within the fleet market. |
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