car industry Flashcards
what are the UKs best selling cars in the UK
-ford puma
-vauxhall corsa
-nissan qashqai
-nissan duke
-hyundai tucson
what are the most popular car types in tbe uk
-SUV
-saloon
-hatchback
what are some online car retailers
cazoo
auto trader
car giant
we buy any car
what are the benefits of using an online car retailer
-lowers costs which could be vital in recent years- no physical overhead costs of a dealership and showroom
-some online car details allow for customisable options within cars therefore adapt to consumers more effectively
-saving costs means they can offer a lower price
-can reach a wider pool consumers therefore increasing brand accessibility
global niches in the car industry
-the luxury car market can be considered a global niche- 9.2% of consumers in the uk own a luxury car.
-luxury car manufacturers operate and sell to markets across the world (global niche) therefore allowing them to access economies of scale- vital to this industry as costs are extremely high- profit margins are kept wide with a high selling prices to upkeep status- these companies usually have strong manufacturer brands that have a trusted reputation amount consumers
-porsche
-lamborghini
-ferrari
-bentley
-Aston martin
distribution in the car industry
mainly 3 and 2 stage distribution channels
manufacturer > retailer (dealership) > consumer
manufacturer > consumer (online distribution / sale of vehicles in a manufacturer showroom
entrepreneur to leaders
-need to be able to gain social skills such as team working
-delegation
-ability to consult, give out advice
-some individuals may find this difficult for example financially motivated entrepreneurs may easily be able to delegate power as it maximises efficiency and increases profits - reduces workload
-requires trust in employees which could be difficult for business owners as it means they have to let go of everything - ie decision making, may make them feel out of control
what is the use of branding to car manufacturers
-branding is vital within this industry as it establishes manufacturers amoung consumers and can often be a decision maker when it comes to buying cars.
-adds value to vehicles- ability to charge high prices
-for luxury brands, many consumers will buy the latest model based due to the established brand and perception over other qualities such as performance or ride
-performance cars
-sports cars
-brands within the car industry are so established that it can be difficult for an eco money producer to establish themselves within the luxury market as it may not be perceived greatly there, not reaching target audience
-however a reputation can be impacted via the dissatisfaction of a car, style, function, cost, aesthetics, a line, design, cars are judged harshly
what are some electric cars
-nissan leaf
-tesla model 3
-mini electric
-honda e
car manufacturers in the uk
established British brands:
-aston martin
-jaguar landrover
-lotus
-mini
-vauxhall
-rolls royce
mclaren
nissan
-largest manufacturing plant in sunderland uk
-there are 25 manufacturing plants in the uk
why has car manufacturing decreased in the uk
-closure of 2 plants in 2022 due to global shortage of semi conductors on the effect of covid lockdowns in china on auto supply chains
-chip shortage from Taiwan has decreased availability of cars and increased price
-average price is 12,000- 28,000
-luxury average- 60,000
-production had decreased by 40.5% since 2019- pandemic influences
