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Car Purchasing Process Market Analysis Research in UK - April 2014: Global Industry Emerging Opportunities, Trends, Size, Drivers, Strategies, Products and Competitive Landscape

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Albany, NY -- (SBWIRE) -- 04/25/2014 -- Research Report On Car Purchasing Process - UK - April 2014: Emerging Opportunities, Trends, Size, Drivers, Strategies, Products And Competitive Landscape

The new car market, while on the path to recovery, is not immune from challenges. Competition from those within and outside of the market is ever present and is likely to grow if recent trends towards consumer individuality continue. Getting closer to the buyer offers clear advantages for manufacturers and retailers not only in achieving future sales but also in understanding how cars are to develop a future role in society.

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Table of Content

Introduction

Definitions
Abbreviations

Executive Summary

The market
New car sales accelerate
Figure 1: UK new car sales, 2008-18
Small and specialist
Figure 2: Share of vehicle types amongst private purchasers, 2010-13
Strong level of future purchasing intent
Figure 3: Future purchasing intentions in the next 3 years, February 2014
Costs of ownership and competition from other transport options cannot be overlooked
Figure 4: Used car market volume, 2008-13
Companies, brands and innovation
Manufacturer market share in flux
Dealers dominate for car sales
The consumer
Over half of cars in ownership purchased more than two years ago
Figure 5: Statements about car ownership, February 2014
£15,000 is the upper ceiling band for most purchases
Figure 6: Amount paid for last car, February 2014
Majority of purchases are from dealers
Figure 7: Where last car was purchased, February 2014
Strong future purchasing intentions
Figure 8: Intention on purchasing a car/s in the next 3 years, February 2014
Price and reliability lead as key factors when purchasing
Figure 9: Primary importance of five key factors when purchasing a car, February 2014
Searching is an important part of the purchasing process
Figure 10: Agreement with statements related to buying a car, February 2014
What we think

Issues and Insights

New cars will continue to face a challenge from used
The facts
The implications
Market fragmentation is a reality
The facts
The implications
Dealers remain a safe bet for many
The facts
The implications

Trend Application

Trend: Minimise Me
Trend: The Nouveau Poor
Trend: Green and Lean

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Market Environment

Key points
UK economy and consumers both show signs of recovery...
Figure 11: GDP, PDI, consumer expenditure and savings, at current prices, 2008-18
GDP growth will take time to strengthen
Consumer expenditure set to expand faster
with quarterly GDP performance further illustrating this
Figure 12: GDP quarterly percentage change, Q1 2006-Q32013
Financial confidence begins to strengthen
Figure 13: Household financial situation index, February 2009-November 2013
Net lending for car purchases sees strong growth
Figure 14: Value of advances (£m) on sales of all cars bought on finance by consumers through dealerships, 2009-13
Majority of adults own a car...
Figure 15: Ownership of cars February 2014
although older cars dominate the market
Figure 16: Ownership of cars, by when purchased, February 2014
Over half of adults are likely to purchase a car in the next 3 years
Figure 17: Future purchasing intentions in the next 3 years, February 2014
Near equal interest in new and used cars
Figure 18: Type of car expected to be purchased, February 2014
Falling price of used cars remains a concern for new car market
Figure 19: Price indices of new and used cars, 1996-2012
Pain of high fuel prices may be easing
Figure 20: Monthly UK petrol, diesel and oil price trends, 2009-13**
Growth in the number of households set to boost demand for personal transport
UK population moving socially downward
An ageing population

Competitive Context

Key points
Car ownership costs keep rising
Figure 21: Consumer expenditure on car purchasing, servicing and repair and motoring expenses, seasonally adjusted at current prices, 2009-12
Competing demands when it comes to overall expenditure
Figure 22: Consumer expenditure, by sector (£billion), 2012
Used car sales outperform new car sales
Figure 23: Used car market volume, 2008-13
Alternatives to car ownership represent an emerging threat

Who’s Innovating?

Key points
Showroom innovation
Online car and service store
Engaging the youth in the electric movement
VW taps into geo-location

Strengths and Weaknesses in the Market

Strengths
Weaknesses

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Market Size and Forecast

Key points
New car sales return to pre-recessionary levels
Figure 24: UK new registrations of motor vehicles, 2008-14
Private sales show upward surge
Business and fleet sales record less variability
Forecast
Figure 25: UK new car sales, 2008-18

Segment Performance

Key points
Small and dual purpose vehicles register strongest growth
Figure 26: Sales of cars* by type, mini and medium size cars, 2008-13
Figure 27: Sales of cars* by type, other cars, 2008-13
Buyers think small…
New vehicle designs proving especially popular
as larger models suffer
Trading up benefits executive sector
Smaller cars prove especially popular with private motorists
Figure 28: Sales of new vehicles, % share by purchaser type, 2013
Half of all private buyers opt for vehicles in mini or supermini category
Fleet and business buyers record a much broader interest
Private market showing polarisation
Figure 29: Share of vehicle types amongst private purchasers, 2010-13
Shift down in terms of size
Growth in demand for dual and multipurpose vehicles
Diesels leads over petrol and AFVs
Figure 30: Sales of cars* by fuel, 2008-13
Diesels continue to hold around a half of all sales
Petrol sector shows small recovery
AFVs fail to make progress
Petrol/electric hybrids dominate AFV market
Figure 31: Electric, hybrid and AFV sales*, 2010 -13

Market Share

Key points
Fragmentation of market continues as established manufacturers face new challenges
Figure 32: Manufacturer shares of new car registrations, 2010-13
Ford and Vauxhall experience different fortunes
Premium German marques make big strides...
as some mass market manufacturers suffer
Value brands making good progress

Brand Communication and Promotion

Key point
Promotional expenditure largely unchanged
Figure 33: Topline advertising spend in the car market, 2010-13
Established names in the market up their investment
Figure 34: Top 20 car manufacturers, by advertising expenditure, 2010-13
Manufacturer expenditure by individual ranges
Figure 35: Top manufacturer model lines , by advertising expenditure, 2013
Television has increased its profile
Figure 36: Share of manufacturers advertising expenditure, by channel, 2010-13
Investment by dealers is largely fragmented
Figure 37: Top 20 Car dealerships, by advertising expenditure, 2010-13
Radio dominates for dealers with direct mail also important
Figure 38: Share of dealer advertising expenditure, by channel, 2010-13

Brand Research

Brand map
Figure 39: Attitudes towards and usage of brands in the car sector, February 2014
Correspondence analysis
Brand attitudes
Figure 40: Attitudes, by car brand, February 2014
Brand personality
Figure 41: Car brand personality – macro image, February 2014
Figure 42: Car brand personality – micro image, February 2014
Brand experience
Figure 43: Car brand usage, February 2014
Figure 44: Satisfaction with various car brands, February 2014
Figure 45: Consideration of car brands, February 2014
Figure 46: Consumer perceptions of current car brand performance, February 2014
Brand recommendation
Figure 47: Recommendation of various car brands, February 2014

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