Almost half of automotive consumers (47%) intend to hold on with their subsequent automotive buy, regardless of their budgets being squeezed, in keeping with new analysis.

JudgeService’s annual State of the Nation survey polled the views of 6,524 franchised seller clients.

Different consumers say they’ll think about rising livings prices to make their subsequent buy more economical.  

One in 10 mentioned they’ll take into account a less expensive make or mannequin, 9% will change from new to used and seven% will take into account smaller automobiles however stick with their present model, whereas 3% will take a look at older automobiles. 

An additional 7% will take a look at electrical automobiles (EV) for potential gasoline value financial savings. 

Nevertheless, for 1 / 4 of consumers the impression on their home budgets is proving an excessive amount of, prompting them to run their present automobiles longer.

Though simply 5% say they now not intend to alter their automobiles. 

Neil Addley, managing director of JudgeService, mentioned: “Our survey reveals simply how resilient British automotive consumers are with most saying they’ll take the rising prices on the chin or mitigate the impression by compromising on what they might sometimes select.

“For sellers this implies factoring in value pressures and providing inexpensive finance choices and fee walks for patrons contemplating smaller automobiles or used automobiles.

“Even for these consumers who say they’ll delay their subsequent buy, or abandon it altogether, there’s nonetheless a possibility for sellers to interact with them by highlighting the peace of thoughts advantages of prolonged warranties and repair plans.”

Addley additionally believes sellers have a possibility to retain clients ready to take a look at different manufacturers for cheaper options. 

“It’s essential for sellers to know what their clients need when it comes to used automobiles.

“Franchised sellers know the makes and fashions they’re promoting towards and this could inform what they supply for his or her used automotive forecourts, in any other case these clients will purchase elsewhere,” he mentioned. 

The complete JudgeService 2023 State of the Nation report will likely be revealed later this month.