Demand for cool cars down in the recession

Could the recession mean the end of cool cars over substance for the motoring industry? This may seem a little over the top, but a number of news stories have emerged in the UK press recently concerning how consumers are being deterred from buying cool flash cars instead of those which are considered more practical, and are refraining from adding sporty extras to their existing cars. So are necessities such as car insurance and fuel economy taking the place of the look and style of the UK’s vehicles?


According to an article at justgoodcars.com, industry research has found that 36% of motorists surveyed said that their limited budgets are the most important factor when considering the purchase of a new car. Additionally, the reliability of the vehicle was also said to be influential in the decision, with one in five buying because of their trust in the manufacturer as opposed to the style or look of the vehicle itself.


Additionally, drivers who have bought cars with the intention of modifying or ‘souping’ them up in the last year have been forced to think twice as research published at myfinances.co.uk highlights the added expense to insurance costs. For example, the added cost of a new spoiler on a 2000 Ford Focus for a 17 year old will be a massive £688.84 a year, whilst something as innocuous as decals and stickers could push the yearly extra cost up by another £6225.22!


According to Gerry Bucke of Adrian Flux Insurance there is an intriguing irony with the latter. He stated: "Young drivers of modified cars are on average 20% less likely to have an accident and make a claim than young drivers in cars with a standard specification. The truth is, guys who modify their cars tend to be involved in fewer accidents. They invest heavily in their cars and take more care of them."

So what does this say for the motoring industry? Are we likely to see an end, or at least a pause, of people spending money on car style? The reports in the press would certainly suggest so, but whilst we might be gradually letting superficial aspects of our vehicles slide, with credit crunch cut-backs we will no doubt see individuals opting for cheaper cars rather than greener ones also. If manufacturers really want to sell new cars they will need to be able to offer cheap simplicity in order to match those that can be bought second hand.

Cool Cars are a turn on for some girls research says

Cool cars may no longer be status symbols, but they may still be the key to the heart of some girls. As petrol prices increase past the £1 mark, and drivers consider cheaper vehicles and cutting back on car insurance, it might seem like the days when the majority of UK motorists cared about the look and model of their vehicles are behind us. However, research from used car specialists, motors.co.uk, suggests that men should not be so quick to put car style to the back of their minds – at least, not if they are hoping to be at all popular with the opposite sex.


A survey conducted in May revealed that, in comparison to men, three times more women are concerned about what type of car their prospective partner owns. Additionally, when asked, a third of women admitted that they were likely to turn down a man if the car they drove did not live up to their expectations in terms of style and status.


The research also showed some interesting findings regarding how much people really care when it comes to the opinions of loved ones about their vehicles. One in fifty claimed they love their car more than their partner.


Although the findings of this particular survey might seem humorous, it follows similar research conducted earlier in the year by an insurance specialist that suggested the credit crunch had killed the notion of the car as a status symbol. In a survey of UK motorists, 36 percent of those asked claimed that having limited budgets affected what car they would buy. Additionally, reliability was said to be a much more important factor compared to style or look, with one in five drivers buying certain vehicles because they trust the manufacturer.


Such research is risky, primarily because it tends to lead anyone who analyses it down routes of gender generalisation. However, it does seem to suggest some intriguing things about the automotive market currently. Whilst more drivers are seemingly less eager to focus on the superficial aspects of a new car, those who are impressed by a type or style of vehicle seem more likely to make car-based assumptions because it is now more likely that a nicer car will belong to an owner with considerable financial security.