UK Car Aftermarket Market Report 2024

The car aftermarket in the UK is a constantly evolving landscape, shaped by shifting consumer priorities and advancements in technology. The cost of living crisis has significantly influenced the car aftermarket sector, compelling consumers to prioritise value for money with focus on essential parts and affordable solutions. As inflationary pressures ease, there is a growing trend of maintaining older vehicles, sustaining the demand for aftermarket components.

The primary threats to the market include the rising cost of raw materials which could potentially inflate prices and reduce demand as well as the increased scrutiny on counterfeit parts, impacting consumer trust.

However, the most exciting opportunity lies in the growing online sales channel, with 45% of consumers preferring websites like Amazon and Argos for purchasing car parts. This shift highlights a transformation in consumer purchasing habits, driven by convenience and cost-effectiveness. Another opportunity lies in the transition to electric and hybrid vehicles, presenting avenues for diversification and innovation in meeting the unique needs of these vehicles.

This report looks at the following areas:

Expanding online sales and providing value-driven solutions open up exciting avenues for growth as well as innovation.

Utku Tansel, Senior Retail Analyst

Market Definitions

Car aftermarket parts are defined as products that need to be replaced so that, mechanically, the car may function better or, indeed, at all. In this respect, they differ from car accessories, which may include comfort, security and/or appearance as the prime motivators to purchase.

For the purposes of this Report, only certain major aftermarket parts are reviewed. These are defined as parts that are typically able to be serviced at automotive fast-fit centres, dealers and garages. Replacement tyres are also included in this definition. The full line-up of parts reviewed is as follows:

• shock absorbers and related parts
• oil filters and related parts
• tyres
• exhausts and related parts
• batteries
• brakes and related parts
• clutches and related parts
• lightbulbs and related parts.

The product areas covered in this Report may be purchased from a retail outlet and fitted by the car owner or will be purchased from a garage, dealership, fast-fit outlet or a mechanic and fitted by a professional. VAT (Value Added Tax) is included.

This Report purely covers the sale of this type of good to consumers (and not trade between suppliers/manufacturers and retailers).

Value figures throughout this Report are at retail selling prices unless otherwise stated. Market sizes at 2023 prices are calculated using Mintel’s motoring deflator.

SMMT data is sourced from the Society of Motor Manufacturers and Traders. The SMMT exists to support and promote the interests of the UK automotive industry at home and abroad. Working closely with member companies, SMMT acts as the voice of the motor industry, promoting its position to government, stakeholders and the media. For more information visit www.smmt.co.uk.

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