The UK Vehicle Recovery Market Report identifies consumers’ attitudes towards vehicle recovery policies, the impact of the cost of living crisis, and membership developments in the vehicle recovery market. This report covers the vehicle recovery size, market forecast, market segmentation and industry trends in the UK vehicle recovery market.
Assisted by the push towards purchasing virtually during the recent COVID-19 pandemic, Mintel’s vehicle recovery market research identifies that online remains an area that is seeing the strongest growth in the vehicle recovery services market.
The impact of the cost of living crisis is set to be significant on the market since rising prices for oil and other materials are expected to feed through to higher premiums. The tightening of household budgets will likely influence consumers to trade down within the vehicle recovery market.
The current cost-of-living crisis is only expected to compound the difficulties automotive manufacturers face, with many consumers scrutinizing prices. However, big players can harness opportunities in the vehicle recovery market by providing adding value to what they offer to attract purchasers, such as loyalty schemes, servicing or maintenance.
The growing profile of the electric vehicle market creates new opportunities for the vehicle recovery market. Several service providers are already adjusting their offers to meet the specific demands of EV car owners, ranging from particular support that cars may need during use to support while at home. Building policies that reflect the ‘green’ credentials of B-EV owners could be an additional step in further supporting this sector.
Read on to discover more about the UK High Street Retail Market, take a look at our other Automotive Market Research.
Products: Vehicle recovery services.
Brands: RAC, AA, Direct Line Group, Start Rescue, Green Flag, Allianz Assistance, AXA, LV.
This report, written by Neil Mason, a leading analyst in the Retail sector, delivers in-depth commentary and analysis to highlight current trends in the vehicle recovery market and add expert context to the numbers.
Challenges continue for the vehicle recovery services market as the cost of living crisis, and associated inflationary pressures, place pressure on this sector to raise prices. With new car sales set to remain sluggish during the short-term, better opportunities are likely to be found amongst owners of used vehicles as well as owners of electric cars. In both cases, refreshed strategies will be needed by service providers to fully exploit these markets.”
Neil Mason
Retail Category Director
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