The fact that UK consumers are once again buying cars is set to have a knock on effect for those working in the car maintenance and repair industry.
Watford, Hertfordshire -- (SBWIRE) -- 03/31/2015 -- This sector of the motor industry was one of the winners of the recession. During the past few years, people have been keeping their cars for longer. An aging car population has translated into far more work for those in the repair sector. For the past few years, the majority of car repairs in Watford and other large towns were carried out for private consumers who were trying to maintain their existing vehicle and keep it on the road. The fact that more people owned older vehicles was helping to fuel demand for the car repair sector.
However, it has not all been good news for the sector. Demand for their services have increased in some areas, but decreased in others. Whilst many private car owners have turned to the sector to keep their vehicles ticking over many others have delayed repairs and servicing in an attempt to save money.
In addition, over the past few years there has been falling demand for repairs from the insurance sector. In 2006, the number of insurance repairs being carried out was 5.81 million. By 2014, the figure was just 4.20 million, which is a fall of 28%. The average cost of each repair rose by £187 over that time, but in real terms inflation and rising overheads wiped out that increase.
This happened in part because people were using their cars less. This helped to reduce the number of accidents, but the main issue has been the fact that the average age of vehicles on Britain's roads has fallen.
A higher percentage of the vehicles on the road were over 4 years old. When a vehicle over four years old is involved in an accident, it is far more likely to be more economical to scrap it rather than to repair it. This is the main reason less insurance repairs have being carried out over the past few years.
Recently sales of both and used cars have increased in the UK. This trend is also likely to translate into less work for the vehicle repair sector. Despite this, the sector is still worth about £22 billion.
For more information visit the website http://www.rickmansworthsportscars.co.uk
For Media Contact:
First Name: Justin
Last Name: O'Shea
Business Name: Rickmansworth Sports Cars
Address: Station Approach, Prestwick Rd
Postcode: WD19 7DT
Country: United Kingdom
Phone No.: 020 32821131