Fewer Brits opting to buy cars

New research suggests the number of people in the UK planning on buying a vehicle in the next six months has dropped dramatically.

The Sainsbury's Finance study indicated there has been a 22 per cent dip in the quantity of individuals who may make a purchase during that time compared with the past half year, which could result in more drivers opting for car hire.

Steven Baillie, head of loans at the company, told Press Association: "After a steady increase in our index for two years, this decline is a real indication of how the economy is affecting people's car-buying plans."

The report demonstrates a year-on-year drop of 28 per cent, while the amount due to be spent on new cars has also dropped significantly - from £51.3 billion to £40.2 billion.

Many of those people who opt against using self-owned cars for travelling may be increasingly choosing to hire a car, as a Guild of Travel Management Companies study on Travel Daily UK has shown how popular this option has become.

The rising number of people choosing to lease vehicles - up ten per cent in the first quarter of the year - is doubtless connected to the falling popularity of rail travel, with the organisation claiming receipts were down 14 per cent during the period.