June 3rd, 2013 in In The News
57% of consumers who travel over 10 miles to visit family and friends have reduced the amount they visit due to cost of travel.
Brits are being cut off from their loved ones due to increasing travel costs, according to Auto Trader’s Q1 2013 Owners’ Guide.
Auto Trader surveyed 3,763 motorists with over half (57%) admitting they are sacrificing visiting family and friends who live over ten miles away due to the constant rises in fuel prices.
Cash strapped Brits pay amongst the highest rates in the world for fuel and an overwhelming majority of consumers (71%) feel that fuel prices are rising faster than any other mode of transportation. It doesn’t come as a surprise, therefore, that of April 2013 the UK was ranked in the top 20 most expensive countries in the world to buy unleaded petrol* and as a result, sales have fallen over 20% in the past five years**.
Nathan Coe, Group Director at Auto Trader: “The fact the UK features among the world’s top 20 most expensive countries for unleaded petrol highlights just how hard British motorists are hit by extortionate rates. The price of unleaded fuel has rocketed over 50% in the last ten years and we are likely to see a further decline in the sale of petrol if prices continue to rise”.
Motoring is not the only area contributing to the UK’s financial woes as household costs continue to surge. 79% of consumers state their household costs have increased over the last three months (January - March).
According to the Owners’ Guide, increasing costs have forced British households to make significant changes in order to maintain their current vehicle and level of driving: 71% of consumers are dining out less frequently, 69% of people are spending less on household luxuries and 45% of Brits are buying fewer clothes.