The markets and competitive environment facing car manufacturers, car dealers and car servicing businesses. Flashcards
1
Q
How large had the second-hand car market grown in the UK?
A
The United Kingdom used car market was valued at USD 117.69 Billion in 2021, and it is expected to reach a value of USD 226.16 billion by 2027, registering a CAGR of 11.5% during the forecast period.
2
Q
What are some key players in the car servicing industry?
A
- AA
- Autoglass
- Belron international limited
- Car glass
- Cazoo
- Car giant
3
Q
What % does the repair of car industry account for?
A
The Motor Vehicle Maintenance and Repair industry is highly fragmented, with the top three players only accounting for 3.2% of industry revenue in 2022-23.
4
Q
What helps the UK maintain competitiveness
A
- Introduce a new ‘Build Back Better Fund’ to support good manufacturing jobs for the future and help lower manufacturing costs such as energy.
- Allow net zero critical industries, such as manufacturers of low carbon, hydrogen and battery vehicles, to access the same benefits and compensation schemes as energy-intensive industries and get more support within the UK Emission Trading Scheme (ETS).
- Fund trial and demonstration projects to explore the use of hydrogen during manufacturing.
- Ensure the UK tax system helps position Britain as an attractive destination for global investment.
