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Brits Spend On Cars

Brits Spend Over £20 Billion A Year To Keep Cars Going

Good News If You’re A Motor Trader!

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On average, UK motorists each spend an average of £695 a year servicing and repairing their cars.

According to the Society of Motor Manufacturers and Traders

The report published by the SMMT revealed that £21.1 billion was spent servicing 30 million cars each year, at garages across the UK. According to the Mail Online, the SMMT rejected suggestions that the £21.1 billion figure was due to high prices, and instead due to ‘intense competition’ which is said to have kept prices down.

Britons Pay Three Times More Than Chinese Motorists

The figures revealed that British drivers will pay three times as much on servicing and repairs than their counterparts in China, who spend on average £240.14 each. The UK is said to lag behind Germany, be on a par with France, but be ahead of Italy when it comes to average spends per year. However, the average age of a UK car is 7.8 years old; a stark comparison to the European average of 9.4 years.

Good News For Motor Traders

Aftermarket figures are set to rise, with average yearly spend on cars set to increase to £28 billion, creating 40,000 new jobs by 2022, as the UK overtakes France to become the third biggest aftermarket in Europe, with parts sellers and service providers needing 30,000 more skilled technicians, according to reports from the Mail Online.

Are You A Motor Trader In Need Of Insurance?

Whether you’re currently working as a motor trader or planning on starting a new full time or part –time career in the industry, then it’s important to make sure you have the correct motor trade insurance in place to protect yourself. It will also protect your business, your clients and any employees you may have. For more details, or to get a quote, get in touch and speak to one of our experts. Call 0800 221 8077 today!