Motorists delay car-buying plans

A new survey has revealed motorists' reluctance to splash out on a new car as the credit crunch continues to bite.

The current economic climate is having an impact on the purchasing plans of 77% of drivers, according to the research by

Just over a quarter (26%) of those surveyed said they would not be able to afford a new car, while a further 15% said they would be spending almost £3,000 less on their next car than their current one.

Almost half (47%) of motorists said they would be holding on to their current vehicle for longer than they had originally planned.

Ashton Berkhauer of said: "Our research shows the potential size and scale of the slowdown in car sales as Britain's motorists react to a looming recession.

"Some consumers are writing themselves out of the car buying market entirely, some are reducing their planned spend while others are aiming to ride out the storm by holding onto their existing model for as long as possible.

"These are all strategies that will help consumers cope, but the impact they could have on both car sales and manufacturing could be huge."

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