Car Sales On The Rise But Buyers Seek To Pay Less

LATEST industry data has shown that car buying is on the increase, however budget-savvy prospective buyers want to pay less for their new wheels.

Data from Sainsbury's Bank has revealed that as many as 18% of adults are looking to buy a new car in the months up to and including February 2014. And while this is a healthy 28% increase on those who planned purchases in the last six months, those now thinking about buying are likely to pay averages out at £9,934, which is 3.5% down on the figure for the last six months.

Furthermore, in a bid to save cash, just one in four plan to trade in their car for another used one, a fifth of buyers are seeking a smaller engined car while a minority are considering making the switch from petrol to diesel in a bid to save more at the pumps.

Commenting on the data, Steven Baillie, head of loans at Sainsbury's Bank, said: "Our car-buying index provides a barometer of consumers' intention to buy and the research suggests people are really thinking about the right vehicle option for their family finances."

The survey follows official industry figures which showed that UK new-car sales last month soared to a 66-month high, with year-so-far sales nearly 11% up on the January-September 2012 total.

By Press Association reporters