Showing posts with label Online Used Car Business Model. Show all posts
Showing posts with label Online Used Car Business Model. Show all posts

Friday, November 22, 2019

UK Used Car Market Research Report to 2023: Ken Research

What is the Current Potential of the UK Used Car Market?
UK Used Car Market is at a late growing stage. The UK used car market in terms of GTV has increased at a positive CAGR of ~% during the review period 2013-2018. This growth was supported by increased used car sales in the country. The average ticket price has also increased by a double digit positive growth rate during the period 2013 to 2018. In addition, there has been a surge in the used car market in UK due to an increase in the trade values. The used car market experienced a growth during the period 2013 to 2018 owing to the increase in sales of hybrid, plug-in hybrid and battery electric cars in the UK automotive space. The used car market was stimulated due to strong consumer confidence and rising business profit levels encouraged customers to replace vehicles more often.

The used to new car ratio has been found around ~ in 2018. There has been an increasing trend in the car parc, having a CAGR of approximately ~% during the period 2013 to 2018. The increase in the used car sales has positively impacted the car parc in the UK. In 2015, used car market experienced a drop due to soaring prices of the used cars, owing to which the sales declined in the country. This was coupled by the heavy supply and the weakening demand which directly impacted the retail outlets. The decreasing demand for diesel cars impacted the growth of the used cars across the region. The disposable income growth dropped in the year 2015 due to which the consumer spending decreased, thereby, imposing a negative impact on the used car GTV in 2015 and 2017.

UK Used Car Market Segmentation
By Market Structure (Organized and Unorganized Market): The organized used car sector, which consists of the OEM-certified used cars and the multi brands used car dealerships, constitute a market share of roughly ~ % in terms of used cars sales volume across the region. The organized used car market is dominant in the overall used car space in UK owing to the fact that they offer documentation regarding the stringent inspection process, MOT and transfer of ownership. Organized sector provides high quality duly certified used cars which are carefully inspected and usually cause no discrepancies. They also offer the after sales services due to which the customers are attracted more towards the organized dealerships as compared to the unorganized dealers in the UK.

By Type of Cars (MPVs / Sedans, Economy / Hatchbacks and SUVs): Hatchback is the type of car which has captured the biggest portion in the market share. It has almost ~ % market share in the UK used car market in 2018. This is followed by SUV’s and then Sedans owing to higher used car prices of this category.

By Kilometers Driven: Old-age vehicles with an average ownership period of 6-8 years or above are exposed towards high wear and tear therefore, increasing their overall vehicle maintenance cost. Pre-owned cars falling in the range of 20,000-80,000 km driven collectively dominated UK used cars market along with volume share of ~% therefore, evaluated at ~ thousand units in the year 2018.

By Manufacture Year: Cars manufactured during the period 2009-2018 dominated UK used cars market along with a massive collective volume share of ~ % thus, evaluated around ~  thousand units during 2018. This segment recorded highest sales owing to the fact that potential buyers had a large variety of used car models to choose from. The least market share is being captured by the used cars manufactured before the year 2002.

What is the Competition Scenario in the UK Used Car Market?
The competition in the UK used car market has been observed to be highly fragmented with a huge number of used car dealerships present in the UK market. The OEM-certified dealers and multi brand dealers make up the organized space in used car market which accounts around ~% of the market share in 2018. The online website is more prevalent in the organized sector for lead generation as compared to the unorganized sectors. Local dealers and the individual sellers’ together form the unorganized space in the overall used car market in UK, which accounts for approximately ~ % market share in the country, 2018. Competition in tier two and tier three cities is comparatively low in comparison to metropolitan cities of the UK. There are many local dealers, small garages and many individual sellers which forms the unorganized space, constituting approximately ~ % in the used car market in UK.

Most of the lead generation of the used car is contributed from the offline dealership stores. About ~% of the used car sales are being generated from the offline stores and only ~% lead is generated from the online websites of the used cars.

Parameters on the basis of which the used car dealerships compete are number of network chains, marketing initiatives, certification, margins, price, after sales services, lead generation, types of warranty, brand partnerships and number of dealers.

Key Segments Covered
Market Structure
Organized Sector
By Sales Channel (Multi-Brand Dealers and OEM-certified Dealers)
By Lead Generation (Dealerships Walk-ins and Online Car Portals)

Unorganized Sector
By Sales Channel (C2C and Local Dealerships)
By Lead Generation (Dealerships Walk-ins and Online Car Portals)
Type of Used Cars
MPVs / Sedans
Economy / Hatchbacks
SUVs

Kilometers Driven
Less than 5,000 km
5,000-20,000 km
20,000-50,000 km
50,000-80,000 km
80,000-120,000 km
Above 120,000 km

Year of Manufacture
< 2000,
2000-2002
2003-2005
2006-2008
2009-2012
2013-2018

Key Target Audience
Offline Dealers
Online Portal
Organized Multi Brands Dealers
OEM Certified Dealerships
Online Portal
Private Equity and Venture Capitalist
Industry Associations
OEM Manufacturers
Automotive Manufacturers
Car Auction Companies

Time Period Captured in the Report:
Historical Period - 2013-2018
Forecast Period - 2018-2023

Online Companies Covered:
Carsnip
Autovillage.co.uk
Auto Trader Group PLC
Motors.co.uk
Desperate Sellers
Exchange and Mart
Gumtree
Inchcape PLC
Bristol Street Motors

Offline Companies Covered:
Mazda Approved Used Cars
Pendragon PLC Group
Toyota Plus Approved Used Cars
Sytner Group
Lookers Group
Marshall Motors
Vertu Motors

Key Topics Covered in the Report
Introduction to the UK Used Car Market
UK Used Car Market Size, 2013-2018
UK Used Car Market Segmentation, 2018
Trends and Developments in UK Used Car Market
Issues and Challenges in UK Used Car Market
Decision Making Process in UK Used Car Market
Customer Pain Points in UK Used Car Market
UK Used Car Auction Market
Online Comparative Landscape in UK Used Car Market
Offline Comparative Landscape in UK Used Car Market
Government Regulations in UK Used Car Market
Business Model in Online Used Car /Market
Working Model in the UK Used Car Market
OLX Used Car Success Story
UK Used Car Market Future Outlook and Projections, 2018-2023
Analyst Recommendation for UK Used Car Market

For information click on the below mentioned link:

Related Reports


Contact Us:
Ken Research
Ankur Gupta, Head Marketing & Communications
+91-9015378249

Monday, October 14, 2019

UK Used Cars Market is driven by Escalating Finance Providers and Increased Lead Generation through Online Car Portals: Ken Research

Augmented penetration of the dealers in the online space and the availability of the finance and insurance options over the online portals have driven the growth of used car market in UK.

Key Findings
New cars segment grew at a five year CAGR of 2.0% during the review period 2013 to 2018. Therefore, there has been a steady increase in the number of cars in the UK over the past years driven by increase in the population and more so by the number of households as well increased economic prosperity.

There is a boost in the average used car price during the review period 2013 to 2018, holding a CAGR of around 17.0% in the UK used car space. This contributes towards growth in the Gross Transaction Value (GTV) in the UK used car market.

The total number of car park (vehicles-in-use) grew across the country with a CAGR of approximately 2.0% during 2013 to 2018. This is due to increase in both new and used car sales. In addition, the used to new car ratio has increased from 3.3 in 2013 to 3.4 in the year 2018 owing to the fact that people prefer buying premium range used cars at cheaper rates as compared to brand new cars at expensive rates. 

Increased traffic on online car portals is one of the major growing trends within UK which led to surge in the used car lead generation. This along with the increasing average used car price has a combined effect on UK used car market GTV i.e. Gross Transaction Value

Competitive landscape within the market has evolved with increasing number of used car listings on the online car portals. Major players in the online used car space include Auto Trader, Carsnip, Bristol Street Motors, motors.co.uk, Inchcape and others. Major players in the offline used car space include Pendragon PLC Group, Sytner Group, Lookers Group, Marshall Motors, Vertu Motors, and many others. High consumer spending coupled with large population density has made it favorable for many used car dealers to set up showrooms in the region where the footsteps of the used car dealerships are comparatively less.

With the emergence of multi-brand showrooms and OEM-certified, there will be a wide variety of used car brands and models to choose from the convenience of the customers’ preferences. It was observed that the multi-brand dealers dominate as compared to the OEM-Certified dealers in terms of sales volume in the UK used car market, recording a CAGR of approximately 8% during the review period 2018 to 2023.

Analysts at Ken Research in their latest publication “UK Used Car Market Outlook to 2023 – Market Structure (Organized and Unorganized Market); Type of Used Cars (MPVs / Sedan, Economy / Hatchbacks and SUVs); Kilometers Driven; By Year of Manufacture; and By Car Make)” believed that the used car industry in UK will augment owing to the rising penetration in the online used car portal, increase in organized dealership chains and stringent inspection process. This rise is expected to boost the demand for used cars in the country owing to the increased availability of financing options across the nation. The market is expected to register positive double digit CAGR of 14% in terms of Gross Transaction Value and around 2.5% in terms of used cars during the forecast period 2018-2023.

Key Segments Covered
Market Structure
Organized Sector
By Sales Channel (Multi-Brand Dealers and OEM-certified Dealers)
By Lead Generation (Dealerships Walk-ins and Online Car Portals)

Unorganized Sector
By Sales Channel (C2C and Local Dealerships)
By Lead Generation (Dealerships Walk-ins and Online Car Portals)

Type of Used Cars
MPVs / Sedans
Economy / Hatchbacks
SUVs

Kilometers Driven
Less than 5,000 km
5,000-20,000 km
20,000-50,000 km
50,000-80,000 km
80,000-120,000 km
Above 120,000 km

Year of Manufacture
< 2000,
2000-2002
2003-2005
2006-2008
2009-2012
2013-2018

Key Target Audience
Offline Dealers
Online Portal
Organized Multi Brands Dealers
OEM Certified Dealerships
Online Portal
Private Equity and Venture Capitalist
Industry Associations
OEM Manufacturers
Automotive Manufacturers
Car Auction Companies

Time Period Captured in the Report:
Historical Period - 2013-2018
Forecast Period - 2018-2023

Online Companies Covered:
Carsnip
Autovillage.co.uk
Auto Trader Group PLC
Motors.co.uk
Desperate Sellers
Exchange and Mart
Gumtree
Inchcape PLC
Bristol Street Motors

Offline Companies Covered:
Mazda Approved Used Cars
Pendragon PLC Group
Toyota plus Approved Used Cars
Sytner Group
Lookers Group
Marshall Motors
Vertu Motors

Key Topics Covered in the Report
Introduction to the UK Used Car Market
UK Used Car Market Size, 2013-2018
UK Used Car Market Segmentation, 2018
Trends and Developments in UK Used Car Market
Issues and Challenges in UK Used Car Market
Decision Making Process in UK Used Car Market
Customer Pain Points in UK Used Car Market
UK Used Car Auction Market
Online Comparative Landscape in UK Used Car Market
Offline Comparative Landscape in UK Used Car Market
Government Regulations in UK Used Car Market
Business Model in Online Used Car /Market
Working Model in the UK Used Car Market
OLX Used Car Success Story
UK Used Car Market Future Outlook and Projections, 2018-2023
Analyst Recommendation for UK Used Car Market

For information click on the below mentioned link:

Related Reports



Contact Us:
Ken Research
Ankur Gupta, Head Marketing & Communications
+91-9015378249

Saturday, October 12, 2019

UK Used Car Market Outlook to 2023: Ken Research

The report titled “UK Used Car Market Outlook to 2023 – Market Structure (Organized and Unorganized Market); Type of Used Cars (MPVs / Sedan, Economy / Hatchbacks and SUVs); Kilometers Driven(Less than 5,000 km; 5,000-20,000 km; 20,000-50,000 km; 50,000-80,000 km; 80,000-120,000 km and Above 120,000 km); By Year of Manufacture (< 2000, 2000-2002, 2003-2005, 2006-2008, 2009-2012 and 2013-2018); and By Car Make (Toyota, Ford, Nissan, Volkswagen, Vauxhall, BMW, Honda, Kia, Lexus, Renault and Others)” provides a comprehensive analysis on used car industry of the UK. The report covers various aspects including introduction on the UK Used car market, market size on the basis of Gross Transaction Value and sales volume, market segmentations by market structure (Organized and Unorganized Market); by Type of used car; by Kilometers driven; by Manufacturer; by Car Make; business models of offline and online used car market, auction market, customer profile, customer pain points, decision making parameters, trends and developments, issues and challenges, government regulations, OLX Case Study and competitive landscape including offline and online companies in the UK used car space and cross comparison of organized used car dealers and their company profiles. The report concludes with market projections for the segments described above and analyst recommendations highlighting the major opportunities and cautions for the UK used car market.

UK Used Cars Market Overview and Size
The UK used car market is at a late growth stage along with single digit CAGR in terms of sales volume during the year 2018. Factors such as increasing disposable incomes, availability of the financing and insurance options makes it convenient and easy for the customers and provides a pleasant experience to the buyers of the used car. The rise in internet and mobile penetration has incentivized dealers to use this platform as it gives them the ability to reach a larger audience and result in a surged used car sales volume by 2023.

UK Used Car Market Segmentation
By Market Structure (Organized and Unorganized Market): Organized market dominated both in terms of Gross Transaction Value (GTV) and sales volume during the year 2018. The organized used car market has been leading in the entire UK owing to the fact that they offer documentation regarding the stringent inspection process, MOT and the transfer of ownership. However, the unorganized market fails to deliver these after-sales services to the customers.

By Type of Used Car (MPVs / Sedan, Economy / Hatchbacks and SUVs): Hatchbacks have the highest market share followed by SUV’s and Sedans in the year 2018. This is due to low priced hatchbacks which have created a positive impact on the sales of used cars in the country. Owing to this fact, the Hatchbacks will continue to dominate the market in the future.

By Kilometers Driven (Less than 5,000 km; 5,000-20,000 km; 20,000-50,000 km; 50,000-80,000 km; 80,000-120,000 km and Above 120,000 km): Pre-owned cars falling in the range of 20,000-80,000 km driven dominated UK used cars market in terms of sales volume in the year 2018. Further, used cars falling in the range of 80,000-120,000 km and above have grabbed the second highest market share and others.

By Year of Manufacture (< 2000, 2000-2002, 2003-2005, 2006-2008, 2009-2012 and 2013-2018): The used cars manufactured in the years from 2013 to 2018 have recorded the highest market share in the UK used cars space in 2018. This segment recorded highest sales owing to the fact that potential buyers had a large variety of used car models to choose from. This was followed by the cars manufactured between 2009 to 2012.

By Car Make (Toyota, Ford, Nissan, Volkswagen, Vauxhall, BMW, Honda, Kia, Lexus, Renault and Others): The most preferred used car brands in UK were observed to be Toyota, Ford, Nissan, Volkswagen and other brands, owing to the fact that the market share of the new car sales of the these brands are high due to which customers have established a trust factor with these brands. Moreover, these brands have a huge networking across the country to make sure that they are at a reachable distance from the customers.

Comparative Landscape of UK Used Car Market
The UK used car market was observed to be highly fragmented along with the presence of multiple outlets of the dealerships in the used car space. Auto Trader, Inchcape and Bristol Street Motors are the few major companies in the online and offline used car market. These companies were followed by the major players such as Pendragon PLC, Lookers Group, Sytner Group and many others. These market players compete on the basis of number of networks, marketing initiatives, certification, margins, price, after sales, lead generation, warranty types, brand partnerships and number of dealers associated with the dealer group.

UK Used Car Market Future Outlook and Projections
In future, it is anticipated that UK used car market in terms of GTV and sales volume will increase at a positive CAGR during the forecast period 2019–2023 due to increased number of dealerships and more number of lead generations through the online portals. In addition, the availability of the financing and insurance options makes it convenient and easy for the customers and also provide a pleasant experience to the buyers of the used car. The implementation of the government policies such as London Ultra Low Emission Zone, Alternate Fuel Vehicle (AFV), and others may have a slight negative impact on the used car market. However, the boost in the consumer spending will maintain the growing trend of the used cars in UK.

Key Segments Covered
Market Structure
Organized Sector
By Sales Channel (Multi-Brand Dealers and OEM-certified Dealers)
By Lead Generation (Dealerships Walk-ins and Online Car Portals)

Unorganized Sector
By Sales Channel (C2C and Local Dealerships)
By Lead Generation (Dealerships Walk-ins and Online Car Portals)

Type of Used Cars
MPVs / Sedans
Economy / Hatchbacks
SUVs

Kilometers Driven
Less than 5,000 km
5,000-20,000 km
20,000-50,000 km
50,000-80,000 km
80,000-120,000 km
Above 120,000 km

Year of Manufacture
< 2000,
2000-2002
2003-2005
2006-2008
2009-2012
2013-2018

Key Target Audience
Offline Dealers
Online Portal
Organized Multi Brands Dealers
OEM Certified Dealerships
Online Portal
Private Equity and Venture Capitalist
Industry Associations
OEM Manufacturers
Automotive Manufacturers
Car Auction Companies

Time Period Captured in the Report:
Historical Period - 2013-2018
Forecast Period - 2018-2023

Online Companies Covered:
Carsnip
Autovillage.co.uk
Auto Trader Group PLC
Motors.co.uk
Desperate Sellers
Exchange and Mart
Gumtree
Inchcape PLC
Bristol Street Motors

Offline Companies Covered:
Mazda Approved Used Cars
Pendragon PLC Group
Toyota Plus Approved Used Cars
Sytner Group
Lookers Group
Marshall Motors
Vertu Motors

Key Topics Covered in the Report
Introduction to the UK Used Car Market
UK Used Car Market Size, 2013-2018
UK Used Car Market Segmentation, 2018
Trends and Developments in UK Used Car Market
Issues and Challenges in UK Used Car Market
Decision Making Process in UK Used Car Market
Customer Pain Points in UK Used Car Market
UK Used Car Auction Market
Online Comparative Landscape in UK Used Car Market
Offline Comparative Landscape in UK Used Car Market
Government Regulations in UK Used Car Market
Business Model in Online Used Car /Market
Working Model in the UK Used Car Market
OLX Used Car Success Story
UK Used Car Market Future Outlook and Projections, 2018-2023
Analyst Recommendation for UK Used Car Market

For information click on the below mentioned link:

Related Reports



Contact Us:
Ken Research
Ankur Gupta, Head Marketing & Communications
+91-9015378249