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Automotive News and Press Releases
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Independents increase hold on aftersales market
Based on interviews with motorists up to the end of August 2012, Trend Tracker's latest data reveal:
- Further rise in servicing retention for independent workshops and fast-fits
- Servicing retention by franchised dealers for make at lowest level since 1998
- Customers influenced primarily by cost, value, technician expertise and preconceptions over warranty requirements
- Ageing car parc means outlets must demonstrate the value of servicing
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Number of car body repairs falls by over a fifth in a decade
Running profitable bodyshops has never been easy, but in almost two decades of studying the UK market for car body repairs, specialist research firm Trend Tracker Ltd says it’s never been as tough as it is now. (For more details about this report see http://www.trendtracker.co.uk/store/2012/10/the-future-of-the-uk-car-body-repair-market-2012-2017
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Number of workshops falls by a fifth
- The total number of vehicle service and repair outlets in the UK has fallen by 22 per cent since 2001
- Falling servicing volumes and increased costs are primary causes
- Trend is predicted to continue, with seven per cent fewer workshops by 201
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Franchised workshops halt decline in aftersales market share
- Franchised sector records a 0.8 per cent rise in aftersales market share
- Independent workshops also increase market share as fast-fits lose out
- Dealers still failing to capture servicing work and MOTs on older cars
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Aftersales market value rises, despite fall in service and repair volumes
- Servicing and repair market grows 6.3 per cent in value to £8.97bn in 2011
- Decade-long decline in service and repair volumes continues following short-lived increase between 2009 and 2010
- Motorists holding onto cars for longer are paying more for SMR work
- Aftersales market currently presents a “once-in-a-generation” opportunity for franchised dealerships
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Research proves high cost of borrowing is stopping recovery: Car loan costs have almost doubled since The Crash
The soaring cost of consumer borrowing in spite of falling interest rates in the broader economy is making recovery impossible. Trend Tracker’s latest analysis of the used car market shows a prime example of a consumer sector which has suffered greatly, partly thanks to a fall in real household incomes and higher living costs, but more importantly as a result of the increased cost and reduced availability of credit. As with sales of new cars, used car sales fell from a peak of 7.73 million in 2004 to a low of 6.77 million in 2011 and are forecast to remain largely flat in 2012 at 6.76 million. Although sales are forecast to reach 7.27 million by 2017 as the economy slowly recovers, they will still be 6% below their 2004 peak.
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Used car buyers want smaller cars, in a smaller market
The Future of the Used Car Market in Great Britain 20012-2017, the latest report from automotive research firm Trend Tracker, confirms that after the recession the UK’s used car market was only slightly bigger at 6.77 million units in 2011 than the 6.75 million of a decade earlier.
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Continued attrition forecast for used car retailers
The latest report from Trend Tracker - The Future of the Used Car Market in Great Britain, 2012 to 2017 - confirms that demand for used cars has been depressed since the beginning of the recent recession in 2008. No more used cars were sold in 2011 – 6.8 million units – than 10 years earlier in 2001.
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Used car market recovery forecast from 2013
The latest report from Trend Tracker - The Future of the Used Car Market in Great Britain, 2012 to 2017 - confirms that volume demand for used cars has been depressed since the onset of recession in 2008. Used car sales in 2008 were 4% lower than 2007, and declined by a further 5% in 2009, remaining at around this level in 2010 and 2011. In fact, no more used cars were sold in 2011 than 10 years earlier in 2001.