22 July 2008
People are still making improvements and modifications to their cars despite the ongoing credit crunch, Fast Car Magazine has claimed. Its review editor Ben Chandler said motorists who modify their vehicles tend to be young people aged 16 to 24 who still live at home with their parents. They have not therefore been affected by rising prices and the tightening of credit to the same extent as those who own their own home. He said the most popular modification gadgets at the moment, particularly for people with newer cars, are integrated satellite navigation systems that feature iPod playback. According to Frost & Sullivan Transportation Group, 60% of car owners carried out at least one vehicle modification in 2008, up from 57% in 2006. Modifications must be declared to car insurance companies and failure to do so could invalidate the policy. Heavily modified vehicles can apply for specialist car insurance.