Industry News from Yes Insurance

One million people will ditch their cars in the next ten years as costs soar, according to CityCarClub.

The company predicts that people will soon decide their car is too expensive to run and will use the money to do other things.

That would mean less cars on the road and fewer claims made to car insurance providers as the likelihood of being involved in an accident will be reduced.

CityCarClub specialises in joint car sharing schemes and has made the prediction on the back of their improved membership numbers.

"When we started in 2001, the market was slow and everyone thought we were just environmental nuts and tree huggers," said chief executive Dirk Van Dijl.

"But now most people who join the club do so because motoring has become too expensive but they still need a vehicle every now and again.

"And don't forget we are not anti-car. Cars are our business but it's just we promote car use as a membership right and not as ownership," he told Company Car Driver.

Membership figures have improved vastly for the company over the years, with a 200 per cent increase recorded since 2003.

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