A large majority (90%) of South Africans say they are keeping their vehicles for longer due to the current economy, with as many as 40% saying they now keep their cars for between five and 10 years.<\/p>\n
This is according to new research published by the Automobile Association (AA) which looked at how current economic factors are playing a role in vehicle ownership in the country, and underlines the current plight within the automobile industry.<\/p>\n
“The findings confirm anecdotal evidence that cars are being kept for longer. Just under 35% of people say they are keeping their vehicles for longer than 10 years, which is a long lifespan for a vehicle,” the AA said.<\/p>\n
Apart from economic reasons, more than 35% of respondents said they keep their vehicles for longer because newer models have become reliable. According to the data, more than a quarter of primary vehicles are older than five years, and more than 30% are older than 10 years.<\/p>\n
“These results point to the increased need for better maintenance of vehicles, and for proper insurance. While our results indicate that more than 60% of the respondents have insurance, national data points to a much lower rate of 35% insurance.<\/p>\n
“If this is indeed the case, there is a cause for concern, as insurance is part of a good maintenance plan for any car,” said the AA.<\/p>\n
Maintenance\u00a0<\/strong><\/p>\n The AA’s research also shows that just under half of owners say they pay out of pocket for maintenance costs, with only around 20% saying they have maintenance plans for their vehicles.<\/p>\n About 20% of owners say they actively save and plan for maintenance while around 5% say they don\u2019t plan financially at all for maintenance expenses.<\/p>\n “These results confirm that too many people are relying on their car to never break down and, when it does, they would rather pay out of pocket than have a financial plan \u2013 such as a paid maintenance plan \u2013 in place. Having a maintenance plan, or service plan \u2013 even one which is not sourced from the original dealer \u2013 is easy to obtain and budget-friendly,” said David Chard, MD of AA Warranties.<\/p>\n Chard said that a service or maintenance plan is, effectively, a savings plan for when problems arise, and is geared solely for the proper maintenance of a vehicle.<\/p>\n He said there are some important steps vehicle owners must take to keep their vehicles running for longer, including:<\/p>\n\n
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