People holding onto their cars

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<h1>People holding onto their cars</h1><strong> Author: <a href='http://www.articleseen.com/profile_kevinpayton.aspx'>kevinpayton</a></strong><br /><p>If you thought that the effect of the financial crisis on consumers was just scare mongering by the Government or the media then you were wrong. A study carried out this week shows that 1 in 3 people will not be buying a new car this year, or until the financial situation clams down. Research from the automotive market consultancy GfK Automotive found that “One in three motorists are looking to keep their used cars in Guildford longer before purchasing a replacement”. The research was carried out amongst 4,000 British motorists and shows a unified shift in approach to car buying and ownership. With fuel prices rising, insurance premiums increasing and surging inflation, UK motorists are looking for any way they can save some money on their motoring bills. According to the survey more than a quarter of us have changed our insurance companies to reduce premiums. Quite worryingly one in 20 of us are cancelling our breakdown service plans – I believe that there are some things you have to bite the bullet with and just accept, and breakdown cover is one of them. 17% of those surveyed say they no longer service their car at a franchised main dealer, opting instead to get it done at a local independent garage, thinking it is cheaper. 1 in 10 of those questioned also said that they now “car share” to help minimise their use of the car. Francisco Lopez the GfK Automotive managing director, said: “The long economic recovery is changing the way people approach all aspects of car ownership and this is having serious consequences on the sector. It is no longer the case that people will simply purchase a second-hand car instead of a new one – many consumers are putting off all major car purchases altogether. Additionally, they are looking to reduce their car budgets in associated areas such as insurance premiums. All of these things take money out of the sector, further weakening it and threatening jobs.” Francisco Lopez the GfK Automotive managing director, said: “The long economic recovery is changing the way people approach all aspects of car ownership and this is having serious consequences on the sector. It is no longer the case that people will simply purchase a second-hand car instead of a new one – many consumers are putting off all major car purchases altogether. Additionally, they are looking to reduce their car budgets in associated areas such as insurance premiums. All of these things take money out of the sector, further weakening it and threatening jobs.”</p><strong>About the Author:</strong><br />Research from the automotive market consultancy GfK Automotive found that “One in three motorists are looking to keep their <a rel="nofollow" href="http://www.wilsons.co.uk">used cars in Guildford</a> longer before purchasing a replacement”. <p> Article Source: <a href='http://www.articleseen.com/Article_People-holding-onto-their-cars_76340.aspx'> http://www.articleseen.com/Article_People holding onto their cars_76340.aspx</a></p>

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Category : Business : Business