Number of three car families increases in North West

New data from the BCA Used Car Market Report, published by leading vehicle remarketing company, British Car Auctions, reflects the real impact of financial pressures faced by families over the last year. In particular, the report looks at the ownership and use of cars across the country.

Key data:

• 72% of families own at least one car 
• There has been a 1% increase in two car families year on year 
• Three car ownership in the North West has increased to 7% from 2% in 2012 
• 14% say they will certainly or quite likely buy a car in the next year compared to 11% in 2012 

“For many families, a car is vital for getting to and from work, getting the kids to school and doing the weekly shop, so car ownership is a strong indicator of economic confidence,” explained Tim Naylor, Editor of the BCA Used Car Market Report.

“Encouragingly, in our latest report based on independent research of 4,000 motorists, car ownership has remained static with 72% of families owning at least one car. There has been a decline, however, from 2010, when 77% of households owned at least one car.”

According to the BCA Used Car Market Report data, there has been a 1% increase in two car families in the last year across the UK, and the same for three or more car families with a 1% drop in one car families.

The findings from the BCA Used Car Market Report for 2013 do, however, seem to suggest that the UK may be turning a corner in consumer confidence as lower inflation, a slowdown in fuel price rises, improving employment prospects and a more stable economy seem to be helping to restore car buyers' confidence, as Tim Naylor explained.

“There has been an increase in those planning to buy a car in the next year – with 14% saying they will certainly or quite likely buy a car in the next year compared to 11% in 2012. And the number of motorists saying they won’t be buying a car in the future has dropped by 2% in the last year.

“In particular, low and 0% interest offers could be creating fresh demand for new cars, with 40% of motorists who responded to the BCA research saying that they were considering buying new rather than used for their next car. This is good news for the market as a whole as new cars create used car stock in future.”

*BCA commissioned BMRB International to carry out face-to-face interviews with 4,000 car owners in the UK to identify their priorities and experiences in buying and owning a used car – what convinced them to buy their latest used car, what influenced their choice of seller, what type of car they might buy next, who they might buy from and when.