Motoring could become a rare luxury for young drivers

Driving could become a rare luxury for a large portion of Britain’s motorists, according to a recent survey by the RAC.

The slow growth in earning in the UK over the past 12 months, coupled with the cost of running a vehicle has put motorists under financial pressure.

Just under half (46%) of respondents to the RAC’s 2017 Report on Motoring survey say driving could become a rare luxury if the costs of owning a car increase.

The figure is higher still for drivers aged under 25, as well as for those who live in London – 57% in both cases.

The running costs have increased over the past year, with the fall in the pounds value, means the price of fuel at the pump has increased.

Alongside the rise in price of fuel, drivers have faced accelerating increases in car insurance premiums as the new Government compensation rule comes in effect.

Average car insurance bills have increased by 15.7% in the past year – more than five times inflation.

RAC Foundation Director, Steve Gooding said, “The news from the Queen’s Speech that the Government is planning to tackle bogus whiplash claims is welcome. Frankly anything that helps damp the soaring cost of motor insurance is good news, particularly for young drivers who are being hit disproportionately by the hike in insurance premium tax.”

The following Interactive Map shows a breakdown of motorists concerns by region.

Brought to you by RAC

The squeezed motorist in numbers:

Maintenance and Repair:

• Almost half of drivers (46%) have seen their maintenance and repair bills increase over the past 12 months – a sharp rise on the 41% who reported higher servicing charges in 2016.

Car Insurance:                          

• The cost of insuring a car is the biggest concern for 8% of motorists questioned – while the proportion of drivers who cite premiums as a top-four concern has risen from 26% in 2016 to 28% this year.
• 58% of motorists have experienced a rise in insurance premiums this year, compared to 46% last year and 34% in 2015.
• Regionally, at 45%, London has the highest percentage of road users who state their premiums have risen in the past year.
• While 58% of drivers in Yorkshire and the Humber seem to be getting the best deal when it comes to insurance premiums. They have the highest percentage of drivers who state that their premiums have stayed the same.
• There was an average price increase of 15% for comprehensive car insurance policies between May 2016 and May 2017*