KentOnline

bannermobile

News

Sport

Business

What's On

Advertise

Contact

Other KM sites

CORONAVIRUS WATCH KMTV LIVE SIGN UP TO OUR NEWSLETTERS LISTEN TO OUR PODCASTS LISTEN TO KMFM
SUBSCRIBE AND SAVE
News

New car sales set to increase

By: Ray Edwards

Published: 08:28, 14 May 2012

New car sales set to increase

Sales of cars are set to increase over the next few months, according to a survey.

As many as 18% of adults intend to make a vehicle purchase in the period to August, the poll by Sainsbury's Bank found.

This represents 8.33 million people and is well above the 5.56 million who said they planned a purchase between September 2011 and this February.

The amount expected to be spent on changing vehicles is also much higher - up from £40.2 billion in the period September 2011 to February 2012 to just under £90 billion in the period March-August 2012.

mpu1

In the period between March and August this year, the East Midlands has the highest proportion (26%) of people who plan a car purchase, with the north-west of England being the area with the fewest potential buyers (14%).

As many as 26% of 18 to 34-year-olds intend to buy a car over the next few months, compared with 18% of those aged 35-54 and only 10% of those aged 55 or more.

Of the 8.33 million potential buyers, around 1.6 million are looking for a car that better suits their family's needs, while more than three million people are looking to change their car to reduce the costs - either cutting down their engine size or switching from a petrol car to a diesel one to reduce fuel and road tax costs.

Steven Baillie, head of loans at Sainsbury's Bank, said: "Our car-buying index provides a good indicator of consumer confidence, which seems to have increased since last September. This has been helped potentially by the number of offers and deals available."

Read more

More by this author

sticky

© KM Group - 2024