UK: Used car sales data confirms downsizing trend
By Dave Leggett | 28 November 2012
Data on used car transactions in the UK car market analysed by Experian shows that consumers are purchasing smaller and more fuel efficient vehicles.
“Amid economic uncertainty and as the rising cost of living squeezes household budgets, car buyers are more focused on affordability and value than ever before. Our data confirms that consumers in Britain are looking for value and increasingly opting for smaller vehicles – in the used as well as new car markets,” said Andrew Ballard, Product & Propositions Director of Experian Automotive.
The Experian data analyses around 6.8m used car sales a year that take place in the UK (all used car sales, private and trade – original data from DVLA). The 2011 data shows that the mini (A-segment) and supermini (B-segment) segments clearly stand out in terms of volume with a 6.5% increase and a 2.6% increase respectively compared to 2010. “They were the only segments along with the MPV to show an increase in sales in 2011,” says Ballard “All the other car market segments suffered a drop in units sold. This trend goes back to 2010 when they were once again the only segments to experience an increase in sales.”
Lower running costs, a reduced carbon footprint as well as increased availability of these models are all factors in their increased popularity, Ballard believes. “Consumers are now thinking beyond the initial outlay cost of buying a car and looking into future running costs as well as environmental impact,” he says.
A report by CAP this week also highlighted the trend towards smaller and more fuel efficient vehicles entering the UK vehicle parc and warned that a hole in government finances may be the result, with the possibility that the government will take measures to raise taxation on motorists.
Sectors: Retailing, marketing & distribution
Companies: Ballard
View next/previous articles
Currently reading -
UK: Used car sales data confirms downsizing trend
28 Nov 2012 -
28 Nov 2012 -
Related company research
Ballard Power Systems Inc. (BLD) - Financial and Strategic SWOT Analysis Review
Ballard Power Systems Inc. (Ballard Power) is a renewable energy company. It develops manufactures, and markets clean energy hydrogen fuel cells. Its fuel cells feature high fuel efficiency, low operating temperature, low noise & vibration, compact s...
This report analyzes the worldwide markets for Fuel Cells in US$ Million by the following product segments: Phosphoric Acid Fuel Cells, Molten Carbonate Fuel Cells, Alkaline Fuel Cells, Solid Oxide Fuel Cells, Proton Exchange Membrane Fuel Cells, and...
World Fuel Cells NEW Forecasts for 2015 & 2020 in 15 countries
This study analyzes world markets for fuel cells and related products. Historical data for 2000, 2015 and 2010 is provided, along with forecasts for 2015 and 2020. Fuel cell demand is also provided at a global level , broken out by application....
There are currently no comments on this article
Be the first to comment on this article