The UK Car Aftermarket Market Report examines the automotive aftermarket demand, different channels for accessing car parts and the impact of the cost of living crisis on buyer activity in the car aftermarket. This report covers the automotive aftermarket size, market forecast, market segmentation and automotive aftermarket trends.
The car aftermarket has not been immune to the inflationary pressures impacting the wider UK economy. Rising prices for raw materials, production, labour and transporting parts, have all been impacted. Although many manufacturers in the car aftermarket supplying parts to the consumer have looked to minimise the impact of these pressures, Mintel still expects price rises of between 5% and as much as 15-20% for some replacement parts during 2022.
Rising prices are a major threat to the car aftermarket. Not only are they expected to dampen demand for some replacement of parts, but they are also set to lead to down trading when it comes to purchasing.
However, Mintel’s car aftermarket report identifies interest in purchasing replacement parts online shows significant potential for developing sales among women under 35. With many young women already using online channels for purchasing outside of this market, creating this engagement opportunity would significantly benefit the car aftermarket.
Mintel’s car aftermarket report indicates that the recent expansion in the number of older vehicles on the road will provide additional opportunities, as will the growing number of electric vehicles entering the market.
With manufacturers’ and consumers’ growing awareness of sustainability, remanufactured parts are an emerging opportunity for the car aftermarket. Automotive companies and those involved in scrapping vehicles are upping their game as part of net zero ambitions, and the phasing out of IC cars, remanufactured parts can be expected to account for an ever-bigger share of the car aftermarket.
To discover more about the UK Car Aftermarket Market Report 2022, read our UK Car Finance Market Report 2022, or take a look at our Automotive Market Research Reports.
Products: Shock absorbers, oil filters, tyres, exhausts, batteries, breaks, clutches, lightbulbs.
Brands: Goodyear, Nexen, Michelin, Continental, Pirelli, Bridgestone, Hankook, GT, Kumho, Landrail, Cooper, BCN3D, Kwik Fit, National Tyre Service, ATS Euromaster, Chatani Tyres Service, Halfords, Euro Car Parts, SKF UK, Scuderia Car Parts, Ring Automotive, Fiat Chrysler, Subaru, Superformance, Brembo Motors.
This report, written by Neil Mason, a leading analyst in the automotive sector, delivers in-depth commentary and analysis to highlight current trends in the car aftermarket and add expert context to the numbers.
Rising prices, and associated pressures on car owners as a result of the current economic crisis affecting the UK economy, are expected to weigh heavily on the car aftermarket. Many car owners are likely to postpone or delay the replacement of parts while others will look to trade down. For those in this market, identifying profitable segments will assume greater importance.”
Neil Mason
Retail Category Director
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