Good News for Garages-Repair investment prompts 3.8 million owners to keep their car for longer
Good News for Garages
Just as I expected, the news is that consumers are keeping their vehicles longer at the moment. Importantly, I am old enough to know that this is always the case when any sort of crisis occurs! This time it is the “Covid 19” pandemic that we are having to face. So, in other years, we have had to suffer with financial downturns. However, this time it’s a health issue.
When there is a crisis, do businesses and regular workers always pull in their horns? It is not the time to be going out and buying a new car. especially with people not knowing whether they will have a job at the end of it all. Drivers are choosing to keep their old vehicles under the premise that “if it ain’t broke, don’t fix it.” It’s better to spend a few hundred pounds on new tyres or a service than thousands on a new car.
This is welcome news to me as the owner of Pellon Tyre and Autocentre. Knowing that this pandemic will also slow down the rush to car electrification MOT testing is expected to remain at a high level, and our customers are certainly buying lots of tyres here in Halifax, UK.
Nowadays, Brits maintain their personal vehicles for longer.
In fact, according to the most recent statistics, the age of vehicles on the road is almost 12. That is significantly older than historical averages. Some dealers could be unsure about whether the epidemic will have any further effects on this psychological trend
MOT testing the ever-improving vehicle technology that makes them last longer. Some people like not having a car payment, so they aren’t in a rush to buy something brand new. But in the current economy, a growing number of people are saying no to trade-ins for a number of different reasons.
Customers might be keeping their dependable vehicles even longer these days.
Given the recent wave of furloughs and fears about job security. Some people might be reluctant to invest money on a new car. Some people may no longer need to drive because they are working from home on a longer-term basis.
Owners of vehicles can decide not to do any unneeded shopping for a lengthy period of time if they are worried about the threats to the public’s health. The current lack of new inventory is another factor.
People might be delaying their purchases of new vehicles until next year because there won’t be any inventory for 2020. Dealers would want to prepare for individuals retaining their automobiles much longer than previously if these factors are added to an upward growing trajectory.
Almost four million of the nation’s drivers have opted to keep their car for longer after spending money on repairs and maintenance, new research shows. The study for Kwik Fit, shows that the third of drivers
Source: Repair investment prompts 3.8 million owners to keep their car for longer – Garagewire
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