Avis says downsizing can save a driver over £6,500 per year (based on driving 12,000 miles a year). That's almost $13,000US. Sounds like something I'd be interested in. Part of the costs come from the way the UK charges drivers for their emissions. The London borough of Richmond, for example, decided to charge residents for parking based on emissions.
Avis commissioned research into the cost-savings of downsizing a vehicle after the publication of the STERN report last year. The study started with this family scenario:
"Mr and Mrs Smith have two children, they live in central London. They currently own a Range Rover Sport 2.7TDV6 HSE (diesel) used mainly by Mrs Smith to take the children to school and on weekly shopping trips. The family take two holidays abroad to France each year, in both instances they drive. Mr Smith travels to work on the tube each day. Avis would suggest downsizing their vehicle to something smaller and more economical, e.g. a Peugeot 107, 1.0 Urban 5-door (petrol), and renting a larger vehicle for their two holidays each year.
- Cost of 12 months ownership for a Range Rover Sport. 2.7TDV6 HSE and an annual tube pass: £14,185
- Cost of downsizing to a Peugeot 107, 1.0 petrol Urban 5-door, renting a large people carrier from Avis for 4 weeks each year and an annual tube pass: £7,515"