Buying to last?

The state of the car market is often used as a benchmark by economists to indicate the strength of the economy. In that spirit, consumer attitudes towards car purchasing can give an indication of how their spending habits are changing.

Over the past three years in particular, the percentage of car owners who are looking for quality for their money when it comes to buying a new car has risen significantly. In the past 12 months alone, there has been a 58% in the number of car owners who believe “reliability” to be the most significant factor when it comes to buying a new car. Other factors such as fuel consumption and price have also seen important rises in the last year.

In parallel, factors such as brand image and style have remained fairly static over the past six years, with slight falls recorded in the last year – suggesting that consumers are more determined than ever to invest in a vehicle that will last, rather than it being the most stylish.