Rising motoring costs such as petrol and motor car insurance could mean that many drivers could be forced off the road indefinitely, according to recently conducted research.
While discount car insurance quotes have become increasingly harder to find over the past few years, the price of a litre of petrol has gone up by more than double over the last decade. One out of every five motorists recently admitted that they will have no choice but to take their cars off the road if prices continue to spiral upward.
According to Hastings Direct, a car insurance broker, the lion’s share of drivers have been impacted over the past 12 months by rising petrol prices, as 78 per cent admitted changing their driving frequency in light of the cost of fuel. One fifth of respondents reported that they would stop using their car if petrol prices rose to £2 per litre, while an additional 12 per cent remarked they would trade their current motor in for an electric or hybrid vehicle instead.
Almost three out of every four drivers reported cutting back already due to eye watering prices at the pump. Nearly half of all respondents cut back by 25 miles a week or more on their mileage, while nearly one out of three have cut back by at least double that figure.
The biggest driving cutback, according to the research, has been in the social sector, as nearly one out of every two motorists reported using their car less when going out for the night. Drivers are also using their cars less on their commute to work or when visiting friends and family, according to research.