Penny-Wise Motorists Spend Spare Car Cash
Released on: November 19, 2011, 4:59 am
Cash-strapped British motorists are plundering loose change
from their cars to the tune of an estimated £27million, as fears over
the economy take hold.
A new report by Halfords shows there has been a 16 per cent drop in the amount of
petty cash kept in the country’s 34 million registered vehicles over the past 12
Motorists feeling the pinch are raiding the stash of coins left in the ashtray and
door side pockets, which they used to save to pay for parking and the occasional
snack or drink.
The study, which Halfords has dubbed the “loose change economic index”, has revealed
that today motorists knowingly keep on average £4.60 in their car, a significant
drop from a year ago when £5.40 was the average amount stored in vehicles.
Across the UK, that translates from an estimated £183 million kept in cars 12 months
ago, down to £156.4 million worth of small change in vehicles today.
The survey of over 2000 drivers asked them to keep a record of spare cash left in
vehicles over a 12-month period. Over three quarters of those polled said they
deliberately left spare change in the car or van to pay for parking in towns or at
Just over a quarter (26 per cent) said they used the cash to buy the occasional
drink or snack when filling up with petrol or at a motorway service station,
although half of motorists said they were buying fewer treats than a year ago.
One in 12 (8 per cent) said they kept a £10 note hidden in the car in case they ran
out of petrol, down from 10 per cent who kept the same emergency cash a year earlier
and 82 per cent said they now regularly check their car for dropped and lost coins.
The downturn of 16 per cent in the amount of money left in cars over the past 12
months reflects a decline in disposable income and is three times the annual
inflation rate, which latest figures showed running at 5.2 per cent. During that
time petrol has gone up from an average 117.7p a litre to 134.5p a litre.
Halfords Motoring Expert, Mark Dolphin, said: “We know that times are tough for
motorists and we’re trying to help ease the burden by offering affordable, value for
money products and services. This includes our popular We Fit service, which fits
bulbs, wiper blades and car batteries whilst you wait, and our garage network, Halfords Autocentres, which
carries out dealership-quality work at value prices.
“Keeping your car well-maintained is the best way to ensure cost effective motoring.”
The Group is the UK’s leading retailer of automotive, leisure and cycling products
and through Halfords Autocentres is also the UK’s leading independent car servicing
and repair operator.
Halfords employs approximately 11,000 staff and sells over 12,000 different product
lines with significant ranges in car parts, cycles, in-car technology, child seats, roof boxes, outdoor leisure and
camping equipment. Halfords own brands include the in-store Bikehut department, for
cycles and cycling accessories; Apollo and Carrera cycles and exclusive UK
distribution rights of the premium ranged Boardman cycles and accessories. In
outdoor leisure, IS sells a premium range of camping equipment, branded URBAN
Escape. Halfords offers customers expert advice and a fitting service called "wefit" for car parts, child seats, satellite navigation and in-car entertainment
systems, and a “werepair” service for cycles.
Halfords customers shop at 466 stores in the UK and ROI and at Halfords.com for
direct home delivery or pick-up at their local store. Halfords Autocentres operates
from 227 sites nationally and offers motorists dealership quality MOTs, repairs and
car servicing at more affordable prices.
Contact Details: Nicola Toulson
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