Rise in wealthy pensioners will drive up new car sales

Renault_Captur_Dutch pensioner carsThere will be a 10% increase in the number of cars on Dutch roads by 2025 due to the rise in the number of wealthy pensioners, according to a new report by economists at ING.

‘The baby boom generation is turning 65, is more prosperous and healthier than previous generations and wants to remain mobile,’ a spokesman told broadcaster Nos. ‘That will result in more cars.’ In total, ING expects there to be 8.8 million cars in the Netherlands in 10 years’ time.

However, the impact on traffic jams is not likely to be significant because the over-65s tend to avoid rush hour and drive less than commuters, the spokesman said.

The over-65s accounted for 30% of new car sales in the year to October, compared with 20% in 2008. The most popular cars among older drivers this year have been the Renault Captur, the Toyota Yaris and Nissan Qashqa, ING said.

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