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Drivers cut number of vehicles

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Car owners are cutting the number of vehicles in their household as they feel the pinch from the credit crunch, a poll has revealed.

Increasing motoring costs are also causing car owners to keep their vehicle for longer, the survey by esure car insurance found.

Of the 1,006 adults surveyed, almost half (48%) admitted they were considering reducing the number of vehicles per household to just one.

Also, 71% said they were delaying buying a new car in order to save money, with 58% of them blaming the financial downturn as a reason for keeping their current vehicle for longer.

Motorists in north east England were the most keen to cut the number of cars in their household, while drivers in the north west were the most reluctant.

Esure car insurance head of risk Mike Pickard said: "With the combined effect of rising motoring costs, high fuel prices and the credit crunch adding strain on motorists' pockets, it comes as no surprise that UK drivers are opting to reduce the number of vehicles they own."

© The Press Association 2008