'Rise of almost 50% in Brits looking to buy used and new cars'
Posted by Louise Clark
Despite the end of the scrappage scheme, many Britons are still planning to invest in vehicles this year, research has shown.
The latest Car Buying Index from Sainsbury's Finance highlights that Britons plan to spend more than £49 billion on used and new cars in the next six months, with 47 per cent more people planning to make the investment compared with the figure from six months ago.
Steven Baillie, head of loans at Sainsbury's Finance, said the figures should provide plenty of optimism within the automotive sector.
"Recent industry figures showed a significant rise in new car sales in February and our Index suggests that that trend - despite the end of the scrappage scheme - is set to continue in the coming six months," he added.
Despite the findings, coordinator for the Association of British Drivers Keith Peat said the results could be affected by the car scrappage scheme, which he described as "a false honeymoon" for the industry.