U.K. Vehicle Fleet Ages As Consumers Tighten Belts
The industry says keeping vehicles longer could be a false economy as the average new car’s 20% advantage in efficiency over a typical 7-year-old model saves about £400 each year.
Tough economic times are changing the profile of the U.K.’s vehicle fleet, with the average car now 7.44 years old, about two months older than a year ago — suggesting cash-strapped motorists are keeping cars longer.
The Society of Motor Manufacturers and Traders says over the past 10 years the total number of cars on U.K. roads has grown 9%, barely half the previous decade’s 17% increase.
Through Dec. 31, 2011, total vehicle registrations in the country increased 0.3% year-on-year to 31,362,716 units.
SMMT says keeping vehicles longer could be a false economy as the average new car is 20% more efficient than a typical 7-year-old model, saving about £400 ($627) a year.
In the average car’s lifetime it will have four owners, but SMMT says there are 341 cars on U.K. roads with more than 20 registration holders and more than 5.3 million that are at least 12 years old.
The data comes from the SMMT’s annual Motorparc census that analyzes details including make, model, variant, color, emissions and age of every car, van, truck, bus and coach on U.K. roads.
SMMT found motorists continued seeking out fuel-efficient vehicles in 2011, as diesel-car registrations overtook their gasoline-powered counterparts for the first time, taking a 50.6% market share. There now are fewer gasoline cars on the road than at any time since 1988.
The five most popular cars on U.K. roads are the Ford Focus and Fiesta, Vauxhall Astra and Corsa and Volkswagen Golf.
The top five car colors in 2011 were silver, 25.6%; blue, 22.0%; black, 17.0%; red, 11.5%; and gray, 9.9%.
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