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General Motoring News

Number of car buyers falls

2nd September 2008

The number of people planning to buy a car has hit a three-year low, according to the Sainsbury's car buying index.

The latest figures disclose that 6.85 million people intend to buy a car between September 2008 and March 2009, which is slightly down on the 6.86 million people cited in the preceding six-month period.

Though increased inflation and the ongoing threat of recession are believed to be prime causes of this fall, the index did also reveal that there is a slight increase in the gross expected spend.

Figures reveal that this has grown by £2.1 billion to £49.61 billion, which works out at an average of £300 per purchase - meaning some motorists may lose out on cheap car insurance quotes.

Steven Baillie, head of loans at Sainsbury's, said: "Unsurprisingly, given the economic doom and gloom that has dominated much of the media for the past few months, we see little change in the number of people looking to buy a car since our last index in March this year."

Last week, a survey by Manheim disclosed that demand for used cars remains steady.
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