High fuel prices force drivers to think again
Posted on: 14th Nov 2012
New research has confirmed the continued concerns of motorists over the high cost of fuel.
The release of the latest survey follows the announcement that MPs had succeeded in forcing a debate on delaying the 3p per litre rise in fuel duty from January until April.
Monday’s debate in the House of Commons highlighted parliamentary anger at the move, coming at a time of recession and austerity in the UK.
The research, from leading vehicle auction company, British Car Auctions (BCA), revealed continued anguish amongst many motorists over fuel costs. Any postponement “will come as a huge relief to many motorists who are struggling with fuel prices as demonstrated by our research,” said editor of the BCA used Car Market Report, Tim Naylor.
“Seventy per cent of car owners admitted they had taken steps to cut their car operating costs. Many are changing the way they drive to maximise their fuel efficiency.”
The BCA data reveals that motorists are trying different ways to combat the financial pressures including altering the way they drive (17% drive more slowly to conserve fuel), avoiding heavy braking (16%) and opting for more fuel-efficient models.
Research conducted by BMRB* exclusively for the Used Car Market Report shows 53% of motorists confirmed the higher price of fuel will eventually push them into ‘buying a more fuel efficient vehicle’ or change their ‘driving habits’ or both.
Furthermore, as response to the increased prices at the pumps, 29% of motorists are now walking more often, while 21% of car owners are cutting the number of car journeys.
“At BCA, we have seen increased demand for smaller, fuel-efficient vehicles, as UK households look to cut their motoring costs and consequently values have tended to rise for these more economical cars.
“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”concluded Tim Naylor.
The survey’s key findings include:
- Nine out of 10 motorists intend to replace their car with a different type of vehicle next time. Top of the shopping list is a car with better fuel consumption followed by lower road tax, a smaller car, best purchase price and lower CO2
- 70% of car owners said they had already taken some steps to cut car operating costs
- 29% are walking more often
- 21% are cutting back on journeys
The Used Car Market Report was written and produced for BCA by Professor Peter N C Cooke and the automotive group at The Centre for Automotive Management, University of Buckingham.