The UK vehicle assistance and recovery market continues to recover after a challenging few years. However, a shrinking car parc presents an upcoming challenge, and consumer demand goes beyond just a good price.
The UK vehicle recovery services market is recovering strongly after what was a difficult period during the COVID-19 pandemic. Strengthening sales in the UK car industry, helped by the wider improvement in the UK economy as well as the personal financial situation of many car owners, is expected to raise revenues by 3.9% in 2024.
Despite improvements for car sales, the stagnation of the UK car parc is an emerging challenge. With increased costs associated with ownership, notably the phase out of new IC cars in favour of B-EV technology, the car parc is likely to start to shrink towards the end of the decade. Service providers will face, for the first time, a smaller market in which to operate.
Consumers want more than just price when taking out assistance and recovery insurance. With a market that is seeking to go beyond support in distress situations, these growing demands are expected to open up further opportunities for service providers over the long-term to add value and develop their service offer.
This report covers vehicle assistance and recovery services available to car owners, whether on a direct or indirect basis, as is common in the marketplace.
The value of the vehicle assistance and recovery services market is made up of fees from memberships, paid either directly or indirectly, as well as revenue from the ad hoc sector. Membership fees comprise any premiums paid to ensure that a vehicle or person is insured in the event of a breakdown. Fees can be paid either directly by the consumer to the recovery company or indirectly through an intermediary that will offer insurance to the consumer, often as part of a bundle of services.
The value of the ad hoc sector is revenue from motorists who are not members of an organisation and therefore use the services of a recovery operator, normally an independent, on an informal or ad hoc basis.
Service enhancement dominates activity as providers look to take advantage of both recovery of the sector and the growing demands of customers and stakeholders.
Utku Tansel
Senior Analyst
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