Fuel costs are leading many people to consider taking the radical step of trading in their cars.
Worsening personal finances in the recession have resulted in many motorists looking into whether or not they can switch their car for a motorbike - or even a moped.
A new report from the Post Office indicates that many consumers are taking radical action in order to save money, as unemployment spirals and credit conditions remain tight. Around 13 percent of poll respondents said that they would be willing to make the switch.
This would be equivalent to around five million people, if the survey results held good across the general population. Moreover, the single biggest reason behind swapping cars for bikes was held to be fuel costs - which are a significant financial obligation in car-owning households.
Post Office head of general insurance, Richard Pennant-Jones, said: "At a time when many people are stretched financially, switching from four wheels to two is one way to save money.
"Using mopeds or motorcycles over the spring and summer can help reduce day-to-day transport and running costs, including insurance which could be significantly cheaper for motorcycles and mopeds than cars."
Latest official jobs figures show that unemployment is at a decade-long high of 2.22 million, over seven percent of the workforce. Meanwhile, data from the Council of Mortgage Lenders showed that home repossessions rose from last year to over 12,000 individual cases over January-March - signalling that more and more people are struggling to pay their debt repayments in the present financial climate.
