A survey has found that almost half of drivers (45%) are holding onto their cars for longer than usual because they are unsure whether to buy a petrol, diesel or electric car, rising to 56% of under 34s, compared to 36% of over 65s.
The survey of 2,000 drivers carried out by Opinium, on behalf of InsuretheGap.com, a leading provider of GAP (Guaranteed Asset Protection) insurance, also finds that just over two-fifths of drivers (42%) say that if they were buying a new (or new second-hand car), they don’t know whether to choose petrol, diesel, or electric, with under 34s (61%) twice as likely to feel this as over 65s (27%).
Half of drivers (53%) are also holding onto their current car because of the shortage of new cars as well as the high price of second-hand cars, particularly those aged under 34s (63%).
Says Ross Callander, from InsuretheGap.com:
“On-going supply constraints for new cars and drivers’ wariness around taking the leap to electric is creating a hiatus in the motor industry. From this survey, it looks like many drivers are biding their time until they feel clearer about the future situation. It’s an uncertain time for drivers and nobody wants to make a potentially expensive mistake buying the wrong vehicle.”