Motorists Downsize as Petrol Prices Rise
Recent research from leading vehicle remarketing company, British Car Auctions (BCA), has illustrated the possible consequences of a continuing rise in fuel on UK motorists, as MPs today (15th November 2011) debate the issue in the House of Commons.
The latest Used Car Market Report* from BCA included a survey of 4,000 motorists. This revealed that half of respondents felt that, at some point in time, the rising cost of fuel will force them to change to a more fuel-efficient car or alter their driving habits. Around a fifth reached that point when fuel hit £1.30 per litre and by the time the price of fuel reaches the £1.50 per litre mark a further 15% of car owners will be in a similar position.
Rising fuel price
Further demonstrating how strongly motorists feel about this issue, 39% of respondents to the survey said they would cut fuel duty if they could influence the country’s transport and motoring strategy. 22% said they would tackle the national fuel price.
Fuel consumption remains the top priority for motorists, with 27% of respondents to the BCA research saying they will be looking for better fuel economy on their next vehicle.
In other data included in the BCA Used Car Market Report it was revealed that the number of two-car households has fallen by 5% in the last 12 months.
* The BCA Used Car Market Report utilises Consumer research by BMRB International, based on interviews with 4,000 respondents, representative of the UK adult population aged 17 years and over. Fieldwork for this research was undertaken during March 2011.