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Automaker Mazda believes that its new model is ideal for businesses looking to cut costs.

The new Mazda3 is set to appeal to car insurance customers who are looking for a cost-effective vehicle to offset the impact of the current economic recession. Due to its low carbon emissions, many businesses opt for the Mazda3 could benefit from special tax benefits.

Mazda are also predicting that the car will retain its value because of its attractiveness to owners and in some cases it could return as much as 35 per cent of its original price after a three-year period or 60,000 miles.

Fleet and remarketing director Peter Allibon said: "Mazda3 represents a fantastic cost-effective alternative to the perceived mainstream models in the lower medium sector."

A recent survey from Datamonitor revealed that drivers are opting to shop around for the best car insurance prices rather than choosing to reduce their cover levels during the current financial situation.

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