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Sainsburys Loans: Fewer people planning to buy cars
New research from Sainsbury's Loans suggests that the number of people who are planning to purchase a new vehicle in the next six months has fallen, compared with the data from the previous six-month period.
A total of 6.86 million adults said they plan to buy a car between March and August 2008, spending a total of £47.5 billion.
These figures represent a decline of one million people and £11.1 billion on figures from the period of September 2007 to February 2008.
Head of loans at Sainsbury's Finance Steven Baillie said that both the number of people who plan to buy a car and the amount they will spend are at the lowest point since March 2005.
"It is difficult to pinpoint exactly what is behind this decrease and could be due to a mixture of factors such as concerns around much-publicised economic pressures or environmental anxieties," he explained.
Meanwhile, recent research from AA Financial Services has revealed that many British drivers are confused about number plate classification for new vehicles.
