How many families have given up their second car in lockdown?
As the impact of the pandemic begins to subside, many of us are adjusting to a new normal.
However, new research by our data insights team has found that only one in ten families have given up their second car since March 2020.
And this is despite extra finance pressures during lockdown and a sharp decline in miles travelled.
Interestingly, our study shows that Brits are too attached to part with their second cars, despite a huge reduction in commute pressures and daily miles travelled across the UK.
For example, our data shows that despite many families no longer requiring an additional vehicle, only 9%* of people gave up their second car in the past 18 months.
In fact, according to the Department for Transport, 280.5 billion vehicle miles were driven on Britain’s roads in 2020 – which, despite the large number, is a decrease of 21.3% compared to the previous year**. With cars in particular, this number was greater, with a drop of nearly 25%.
Whilst our research shows that people aren’t driving as much, more than eight in 10 motorists (83%) admitted they have always had a love for driving and more than half of respondents said they use time in their car as an opportunity to escape from everyday life, while a quarter enjoy the quiet time it gives them.
What do the experts say?
Our CEO Mike Todd explained that the nation’s love of driving is evidently as strong as ever, but that we must start considering greener alternatives sooner rather than later.
He said: “The UK loves driving, and this study shows that even when we don’t use them or rely on them as much as we have in the past, we just can’t bear to part with our beloved cars.
“However, as the UK continues to transition to greener travel, I think we’re likely to see consumer habits develop and younger generations accessing cars via a subscription rather than owning one outright.
“As we all become more environmentally conscious, people will start thinking more broadly about how they travel and should ask themselves: do I need to own a car or simply have use of one?”
For more information on car finance, visit https://customer.vwfs.co.uk/
READ MORE: What are subscription cars and why are they so popular with younger people?
READ MORE: Seven top tips for financing your dream car
*The data for this study was collected between 22nd October 2021 and 24th October 2021 and comprises responses from 2,000 British respondents.
**https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/1028165/road-traffic-estimates-in-great-britain-2020.pdf
