June 2016
Featured in this insight: Automotive
Survey finds average brit spends £700 a year on car maintenance: A recent automotive survey has found that some of the best maintained cars come from Britain, with over £21.1billion being spent each year to service and repair our beloved vehicles. The report was carried out by the Society of Motor Manufacturers and Traders and declared that UK motorists annually spend just over £695 on the maintenance of their car; a 12% increased difference in the average global spend on car which was found to be at £621.
It was also found that British roads are less likely to have cars that are responsible for creating surplus pollution, are in need of new brakes or are in various states of disrepair.
Sporting over 42,000 repair and vehicle servicing locations, the UK can be said to be a huge industry with a great many suppliers each competing for the best business in the after-market. Fortunately for car owners out there a number of businesses involved were independently owned giving customers an extensive choice of places to get their cars repaired and serviced. Independently owned businesses were also found to be lower in price; it was noted that costs for labour and had a price decrease of between 45 per cent – 65 per cent.
The survey went on to highlight the important financial input that the UK automotive after-market industry devotes to the UK economy totalling at £12.2 billion each year and providing nearly 350,000 British jobs. With rising car figures on the road and ever increasing longevity, the UK car market is set to grow in leaps and bounds. By 2022 it is estimated that the UK after-market will be worth around £28 billion and maintaining employee numbers of nearly 400,000; this is said to be all down to the improvement of car quality and advancement in service and repair skills.
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