"More than half (52%) of consumers say saving for unexpected "rainy day" expenses is the most significant confidence factor stopping them from swapping their used car in 2026. February's Startline Used Car Tracker also shows 41% feel high inflation in recent years has left them feeling wary, 34% think taxes are rising quickly, 31% believe the economy no longer grows in the way it once did and 30% that it might crash at any moment."
"What we are seeing is a large proportion of people feeling financially battered and bruised by the financial events of the last few years. It's clear that the high inflation seen in the early 2020s has left them deeply wary of what might come next and the majority are choosing to save for a rainy day rather than look for a new vehicle."
"You can feel a lack of trust in their attitudes. It's notable that around a third believe the economy could simply crash at any moment, even though it is probably more stable now than at any point in recent years. How long it will take for these feelings to ease is very difficult to predict but they are unlikely to change overnight."
52% of consumers say saving for unexpected "rainy day" expenses is the most significant confidence factor stopping them from swapping their used car in 2026. 41% feel high inflation in recent years has left them feeling wary, 34% think taxes are rising quickly, 31% believe the economy no longer grows as it once did, and 30% fear an economic crash. Additional concerns include wages not keeping pace with price rises (29%), finances not recovering since the pandemic (22%), and reduced job security (16%). Dealers view low consumer confidence as the main barrier. The tracker surveyed 301 consumers and 62 dealers and is compiled monthly by APD Global Research for Startline Motor Finance.
Read at London Business News | Londonlovesbusiness.com
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