UK Used Car Market Outlook to 2026F
driven by declining production of New Vehicles in UK & affordability of used Cars due to increasing cost of living in the Country
December 2022
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About the Report
About the Report
The report provides a comprehensive analysis of the potential of Used Car Industry in UK. The report covers an overview and genesis of the industry, market size in terms of revenue.
Its market segmentations include by Vendor type (Organised & Unorganised), by type of Vehicle (Electric, conventional, Hybrid), by type of fuel (Petrol, Diesel), by sales channel (Online & Offline), by type of Car (SUV, Sedan, Hatchback, pickup trucks, luxury). The report also includes SWOT analysis, growth drivers, government regulations & trends in the market. The report concludes with future market projections of each market segmentation and analyst recommendations.
Market Overview
According to Ken Research estimates, UK Used Car Industry will continue its growth phase till 2030; entry of large number of captive and classified players expected in the upcoming years owing to online presence of new emergent players, increasing smartphone & internet penetration & a growing middle class population.
- The automotive industry contributes around 4 percent to the country’s GDP making it one of the leading Automobiles Hub of Europe.
- In UK Used Car Market, the preference for the organized sector is more with share of 58% due to more convenient buying experience and value-added services viz., warranty, certification and others.
Key Trends by Market Segment
By Type of Vendor: In 2021, the organized sector outnumbered the unorganised sector capturing a total of 60% market share due to higher preference and trust on organized players in the market. A major presence the organized sector can be seen in urban & provincial regions. Moreover, value-added services like warranty, transfer of Ownership, financing Options, insurance, and refurbishing roadside Assistance attract customers.
By Type of Vehicle: In 2021, Conventional vehicles holds the largest share of ~97% followed by hybrid holding 2.5% and rest by Electric vehicles. However, recently in 2022, transactions for electric cars more than doubled compared with the same quarter last year, up from 6,625 transactions to 14,586 an increase of 120%.
By Type of Fuel: Petrol accounts for 65% of the UK Used Car market followed by 40% Diesel cars. Moreover, petrol variant cars are preferred for shorter distances whereas diesel variant cars are preferred for longer distances in the country. All in all, The market for Petrol based Used cars is dominating as of 2021 in the UK followed by Diesel and then others.
Competitive Landscape
The UK Used Car Market is fairly consolidated with Auto trader, BCA & Auto1 being the major players. Moreover, Arnold Clark and Pendragon PLC are the market leader among offline dealers operating in Used Car market in UK due to their high sales volume of 224 thousand units and 200 thousand units respectively in 2021.
Future Outlook
The UK Used Car Market is expected to generate ̴ GBP 273 Billion by 2026F, with a CAGR of around 11.4% during 2022- 2026F owing to government regulations, increased, online presence of new emergent players, increasing smartphone & internet penetration & a growing middle class population.
Scope Of The Report
Scope of the Report
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By Type of Vendor |
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By Type of Vehicle |
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By type of Fuel |
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By Type of Car |
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By Sales Channel |
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Products
Products
Several Independent Dealers, Auction Houses
Online Auto Classified Portals & Marketplaces
- Auto Trader Group PLC
- Motorpoint Group PLC
- Cazoo Ltd
- Cinch Cars Limited
- CarGurus UK Limited
Key Target Audience
- Banks and its Subsidiaries
- NBFCs
- Captive Finance Companies
- Government and Institutions
- Automobile Companies
- Car Dealers
- Government and Institutions
- Existing Car Finance Companies
- OEM Dealerships
Time Period Captured in the Report:
- Historical Period: 2017-2021
- Base Period: 2021
- Forecast Period: 2022F-2026F
Companies
Key OEM Covered
Major OEM and Multi-Brand Outlets
- Arnold Clark Automobiles Limited
- Pendragon PLC
- Sytner Group Limited
- Lookers plc
- Vertu Motors PLC
- Inchcape PLC
- Available Cars Ltd
- JCT 600 Ltd
- Group 1 Automotive
Table of Contents
Table of Contents
1. Executive Summary
1.1 How is Used Car Market Positioned in UK
2. 2Country Overview of Used Car Market
2.1 UK Country Overview
2.2 Key Demographic Indicators of UK
3. UK Automotive & Used Car Market Overview
3.1 UK Automotive Market Overview
3.2 Passenger Car Landscape in UK
3.3 Ecosystems of Major Entities in Used Car Market
3.4 Overview and Genesis of Used Car Market in UK
3.5 Value Chain Analysis
3.6 Market Size of Used Car Market in UK, 2016- 2021
4. Market Segmentation of Used Car Market in UK
4.1 Market Segmentation By Vendor Type, 2021
4.2 Market Segmentation By Fuel Type, 2021
4.3 Market Segmentation By Sales Channel, 2021
4.4 Market Segmentation By Type of Car, 2021
4.5 Market Segmentation By Brand, 2021
4.6 Market Segmentation By Age of Vehicle, 2021
4.7 Market Segmentation By Region, 2021
5. Customer Analysis
5.1 Market Segmentation By Customer Age, 2021
5.2 Market Segmentation By Gender, 2021
5.3 Market Segmentation By Income, 2021
6. Industry Analysis
6.1 SWOT Analysis of UK Used Car Market
6.2 Porter’s Five Forces Analysis of Used Car Market
6.3 Growth Drivers in the UK Used Car Market
6.4 Issues and Challenges in the UK Used Car Market
6.5 Trends in the UK Used Car Market
6.6 Government Rules and Regulations
6.7 Key Legislations in the Automotive Market in the UK
7. Pricing Analysis
7.1 Pricing Analysis of UK Used Car Market, 2021
8. Competitive Analysis
8.1 Competitive Analysis for Major Offline Players
8.2 Competitive Analysis of Major Online Players
8.3 Cross Comparison of Leading Ten Offline Players in UK Used Car Market, 2021
8.4 Cross Comparison of Leading Ten Online Players in UK Used Car Market, 2021
8.5 Company-wise Sales Analysis of Major Offline Players in UK Used Car Market, 2021
8.6 Company-wise Sales Analysis of Major Online Players in UK Used Car Market, 2021
9. COVID-19 Impact
9.1 Impact of Covid-19 on UK Used Car Market
10. Future Outlook and Projections
10.1 UK Used Car Market Size future forecast, 2022 – 2026F
10.2 Future Market Segmentation By Vendor Type, 2026F
10.3 Future Market Segmentation By Vehicle Type, 2026F
10.4 Future Market Segmentation By Fuel Type, 2026F
10.5 Future Market Segmentation By Sale Channel, 2026F
10.6 Future Market Segmentation By Brand, 2026F
10.7 Future Market Segmentation By Age of Vehicle, 2026F
10.8 Future Market Segmentation By Region, 2026F
10.9 GPS Enabled Cars
10.10 Features of driverless Cars
11. Analyst Recommendations
12. Research Methodology
12.1 Market Definitions
12.2 Abbreviations Used
12.3 Market Sizing Approach
12.4 1Consolidated Research Approach
12.5 Sample Size Inclusion
12.6 Research Limitations & Future Conclusion
Disclaimer
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Research Methodology
Research Methodology
Step 1 : Identification of comprehensive ecosystem of brand authorized/direct dealership agents as well as multi-brand outlets/exhibitions in the industry.
Step 2 : CATIs with the management to understand their operating and financial indicators including revenue, sales volume, vehicle pricing, brands catered, value-added services offered, best selling models, future strategies and other value-adding information. Later, our team has adopted a bottom to top approach in order to evaluate the overall sales volume and sales volume by type of Cars, type of dealerships & by sales channel. Overall industry revenue was evaluated by multiplying the weighted average price of the different types of Cars to their sales volume.
Step 3 : Bottom-to-Top & Top-to-Bottom approach in order to evaluate the overall revenue. Sanity Checking from Industry Veterans, Professionals and proxy variables._63e6253561385.jpg)
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Frequently Asked Questions
Frequently Asked Questions
What is the Study Period of this Market Report?
The UK Used Car Market is covered from 2017–2026 in this report, including a forecast for 2022-2026.
What is the Future Growth Rate of the UK Used Car Market?
The UK Used Car Market is expected to witness a CAGR of ~11% over the next four years.
What are the Key Factors Driving the UK Used Car Market?
New Government Policies, smartphone & internet penetration are some of the major growth drivers.
Who are the Key Players in the UK Used Car Market?
Arnold Clark, Auto trader, moto Print, Cazoo, Pendragon are some of the prominent players in the market.
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