Brits buying fewer new cars?

A report by British Car Auctions (BCA) places the blame for the average age of the UK’s national fleet squarely at the foot of the Global Financial Crisis.

“A slowdown in the new car market from 2008 onwards has certainly had an impact on the availability of good quality used cars for motorists to buy,” says Tim Naylor, Editor of the BCA Used Car Market Report.

“But crucially, company fleets have been holding onto their cars for longer and changing them less frequently and this has affected the supply of cars aged up to five years old.  As a result motor dealers are buying older vehicles for their forecourts.

“The squeeze on household spending means motorists are looking at different ways of managing their travel costs.  Some are deciding to choose slightly older, cheaper cars when they change their vehicle.   Others are looking for more economical cars that deliver a better MPG [figure] as they try to combat rising fuel costs. We have also seen a decline in the number of multi-car households, which suggests families are having to economise with their personal transport needs.”

The report reveals that in the four years since the Global Financial Crisis ensued – and with several member countries of the European Union faced with ongoing strife – the average age of the British car fleet has risen from 6.93 years to 7.44 years. Last year, the report declares, sales of cars between six and eight years of age grew by 7.4 per cent. Sales of vehicles aged in excess of nine years grew by 7.5 per cent.

But the age of the British fleet is still three years younger than Australia’s. The factors accounting for that difference in age may include the salt used on British roads. With few older cars surviving as well as in Australia’s kinder climate, the average age in Britain would be skewed towards the lower end of the scale.

Yet another contributing factor may be the differing rate of private vehicle ownership. With Australia’s towns and cities not as well serviced by public transport infrastructure, a car is a necessity rather than a luxury for most families; a point made by the Australian Conservation Foundation at the height of the GFC. Families on a lower income in Australia are more likely to have at least one car than similarly disadvantaged families in Britain.

Read the latest news and reviews on your mobile, iPhone or PDA at carsales' mobile site...