UK Car Review market report
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Providing the most comprehensive and up-to-date information and analysis of the Car Review market, and the behaviours, preferences and habits of the consumer.
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What are the key challenges facing the industry and how fast are its rates of growth? Who is the consumer and what do they want? Where are the opportunities, where are the risks and what lies ahead?
What you need to know
After a period of expanding sales the UK car market is entering a difficult period. New car volumes fell back in 2017 (-1.4%) with this decline set to continue into 2018. Although the used car market remains strong, with sales outstripping those of new models, Mintel’s research suggests that a slowdown is likely with a stagnation in demand evident in 2017.
Since the EU Referendum vote in June 2016 much of the concern of those in the market has been that processes associated with Brexit are beginning to impact on sales. Yet analysis of the sector, and what drives it, reveals a more complex situation. Rising costs and growing consumer uncertainty appear to have combined with what was an increasingly saturated new car market to bring about the current difficulties for the sector. Although future worries about Brexit are certainly playing their part in depressing demand, the market is considerably more complex to be affected by a single issue.
Against such a backdrop the car market continues to benefit from a number of internal developments. Most notable is the movement away from the idea of a multi-purpose car to a car that offers specific benefits and meets specific demands such as versatility, luxury or value. Trading up is a key feature of the market and has recently benefitted a number of international, principally German, manufacturers to the detriment of UK and other European suppliers. Technology is finding its way into the UK car market as cars increasingly mirror what is happening in society. Hybrid and electric power sources appear to have finally emerged as a realistic alternative to diesel or petrol as the sector continues to ‘green-up’ its image.
Strong new car sales in recent years have led to growth in demand with Mintel’s research suggesting that 22% of car owners now own a car purchased from new within the last two years. When it comes to new buyers interest is strongly focused on sectors such as SUVs (Sports Utility Vehicles) as well as executive cars. Uses to which cars are put vary although Mintel’s research suggests that shopping, commuting and visiting friends/ family are overall the most important.
Products covered in this Report
This Report investigates the changing face of the UK car market. It focuses on developments that are taking place within the car market and how these are impacting now and are likely to impact on the future demands of buyers. It presents a review of the UK market for passenger vehicles and the dynamics of the sector, as well as reviewing trends in areas such as category and brand share.
It is exclusively focused on passenger vehicles, and therefore excludes any discussion of the market for light commercial vehicles or fleet vehicles.
Expert analysis from a specialist in the field
Written by Neil Mason, a leading analyst in the Automotive sector, his extensive knowledge delivers in-depth commentary and analysis to highlight current trends and add expert context to the numbers.
After a period of growth the UK car market has begun to enter a period of stability. New sales are in decline while the used market has stagnated. Yet within the market change continues. Owners are increasingly looking for a more bespoke vehicle with a growing percentage also looking for a car to match their lifestyle.
Head of Retail Research
What you get
This market report provides in-depth analysis and insight supported by a range of data. At the same time, introductory and top-level content is provided to give you an overview of the issues covered.
Mintel provides a range of market information, frequently through the category level, including market size and forecasting, complete with market drivers that illustrate the forces that shape a category or market.
Mintel's proprietary consumer research provides our analysts with the attitudinal and behavioral data used to provide valuable insight to topical issues.
Mintel provides overviews of the top brands and manufacturers, and uses consumer research to explore attitudes and reactions to brands, as well as insight into what will resonate with consumers.
Market reports provide appendices of data to support the research and insight produced. Our tables of data are easily manipulated and downloadable to support your research needs and covers factors from consumer attitudes to market forecasts.
* This is a sample representation of the report layout and does not reflect the research included in this report.
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