Albany, NY -- (SBWire) -- 11/19/2014 --Although the car parts aftermarket is seeing growth it remains one that is subject to a number of pressures. These are coming from various directions with the current buoyancy of new car sales and move towards budget brands joined by wider trends such as the impact of the ageing population and a steady fall in distances travelled annually.
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Table of Content
Introduction
Definition
Exclusions
Abbreviations
Executive Summary
The market
Figure 1: UK car parts aftermarket, by value, at current prices, 2009-19
Market factors
Companies, brands and innovation
Channels to market
Figure 2: Aftermarket outlets for sales of replacement parts, 2014
The consumer
Figure 3: Car ownership, September 2014
Figure 4: Age of car driven, September 2014
Figure 5: Replacement parts bought, September 2014
Figure 6: Repairs or fitting of replacement parts by planned and unplanned occasion, September 2014
Figure 7: Reasons for replacing parts, September 2014
Figure 8: Attitudes towards cars and car repairs, September 2014
What we think
Issues and Insights
A strong new car market
The facts
The implications
Distance travelled annually in decline
The facts
The implications
The ageing population
The facts
The implications
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Trend Application
Why Buy
Return to the experts
Prepare for the worst
Market Environment
Key points
A car market in recovery
Figure 9: New and used car registrations, 2009-14
Polarisation of market by vehicle age
Figure 10: Age structure of the car parc in years, 2012 and 2013
Trips taken and distance travelled are in steady declines
Figure 11: Trips, distance travelled and time taken, 2003-2013
Lighting and signalling are key reason for MOT failure
Figure 12: Road vehicle testing scheme (MOT), selected reasons for failure, car tests, 2008-13
Diesels account for over half of new cars sold
Figure 13: New car registrations, by fuel type, 2009-14
Vehicle replacement times are improving
Impact of maintenance delays...
or getting others to undertake maintenance on your behalf
UK economy in recovery
Figure 14: GDP, PDI, consumer expenditure and savings, at current prices, 2009-19
GDP growth is beginning to strengthen
Consumer expenditure likely to be buoyant
Financial confidence begins to strengthen
Figure 15: GfK Consumer Confidence Index, January 1988 – February 2014
Pain of high fuel prices may be easing
Figure 16: Monthly UK petrol, diesel and oil price trends, 2009-13**
Shift in population towards the less affluent
UK population shows signs of ageing
Competitive Context
Key points:
Replacement parts have to compete against other motoring expenses
Figure 17: Consumer expenditure on car purchasing, servicing and repair and motoring expenses, seasonally adjusted at current prices, 2009-13
Role of the internet continues to broaden
Counterfeiting – an unquantifiable problem
Competition from part used and refurbished parts
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