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Car Insurance -
Streetcar: Pay-as-you-go motoring more popular in cities - 16/11/2007
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UK car owners, besieged by high petrol and car insurance prices, are increasingly turning to cheaper pay-as-you-go motoring options.
A spokesperson for the Streetcar website - which offers its members car rental by the hour, day, week or month - added today that the future growth of their service was dependent on further public transport improvements.
Paul Johnson commented: "For car clubs to work…you have to have a really, really good public transport system because effectively you're asking people to give up their cars."
As a result, he added, big cities like London where a lower proportion of residents owned a car were focus areas for the firm.
Streetcar began operations with a fleet of just eight cars in 2004.
After trebling in size for each year of business, it now holds vehicles in "hundreds" of locations - around 85 per cent of which are in London.
Further growth of such firms might be anticipated if the cost of running a car continues to increase: two separate recent car insurance surveys have detected a ten per cent annual rise in car insurance premiums.
Petrol is also currently hovering around the £1-per-litre mark, due to high crude oil prices.
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