The total number of cars on UK roads has grown 9% in the past 10
years, which is a slower growth rate than the previous decade
(which increased by 17%), according to the Society of Motor
Manufacturers and Traders (SMMT).
The parc increased to 31,362,716 cars at the end of 2011, an
annual increase of 104,519 units (+0.3%). According to the SMMT,
the average car on UK roads is now 7.44 years old,
tallying with findings by British Car Auctions published last
week. This puts the average car at around two months older than
a year ago, suggesting cash strapped motorists are keeping cars for
longer.
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However, the SMMT warns that this could be a false economy as
the average new car is 20% more efficient than a typical
seven-year-old car, saving the average motorist around £400 each
year. The average car will have four owners during its lifetime;
however there are 341 cars on UK roads with more than 20 registered
keepers, and more than 5.3m cars over 12 years old.
The report also reveals that diesel car registrations overtook
petrol for the first time with a 50.6% market share. The growing
trend of diesel registrations, coupled with the increasing share of
alternatively-fuelled vehicles, resulted in there being fewer
petrol cars on the road today than at any time since 1988.
In addition, the number of low CO2-emitting cars on the road has
doubled since last year to more than 120,000 vehicles, which are
exempt from car tax.
The SMMT’s chief executive Paul Everitt said: “The latest SMMT
report shows that with budgets tight, motorists are capitalising on
the increasing reliability of new vehicles by holding on to models
for longer. New vehicles are changing the face of motoring in the
UK and it can make financial sense for motorists to invest in a
new, highly fuel efficient and technologically advanced new
model.”
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