7 July 2011

1.3 million Drivers Parked up for good because of Rising Cost of Motoring

Drivers are giving up on driving as motoring costs rise

**New research has found that 1.3 million people have been driven off the roads by the increasing cost of motoring over the last year.

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The latest figures show that 76% of drivers have changed their motoring habits over the past 12 months in order to save money.

According to research conducted by Sainsbury's Finance, 26% of drivers admit to only ever filling half the tank. What they are doing instead is purchasing specific values of fuel such as £20 worth or £50 worth of fuel.

The average car owner is spending around £1,720.69 a year to fuel their car leading motorists to see almost a 25% increase year on year.

As driving habits change to fit with the times, many are finding different methods in order to reduce costs.

Now 45% of motorists are driving less and 7% have been reduced to car share schemes. A further 10% have downgraded their car for one that's more cost effective to run.

"We estimate the average motorist has an annual fuel bill of over £1,700, a 22.9% year-on-year increase, which underlines just how hard the rising cost of motoring is affecting people,” said Ben Tyte, Head of Motor Insurance, Sainsbury's Finance.

"The average annual cost of running a car is now just over £3,000 a year, 21% higher than a year ago,” added Tyte.

A number of drivers who have now taken a back seat towards motoring are concerned that more should be done to help them.

Gocompare conducted a survey of 3000 adults and revealed that 44% of people would like to see a cut in fuel duty. A further 50% of people believe that the government should do more to control fuel prices.