Industry Analysis & Industry Trends
Alongside other automotive industries, used car dealers have benefited from a period of recovery in recent years. Although revenue struggled prior to the five-year period through 2016-17, 2011-12 marked a turning point for operators, as economic conditions started to improve and consumers that had previously delayed vehicle purchases returned to the market. As disposable incomes and business profit levels have risen, customers have replaced vehicles more often, stimulating higher sales of used cars. Overall, industry revenue is expected to grow at a compound annual rate of 5.8% over the five years through 2016-17 to reach £16.4 billion, including forecast growth of 3.4% in the current year.
Despite recent growth, the industry has encountered several challenges... purchase to read more
Industry Report - Industry Locations Chapter
The South East
The South East has the highest proportion of industry establishments, accounting for 15.8%. The South East is also a high-income earning region and has a very high level of car ownership. The region’s proximity to London is also a factor, despite the level of car ownership being low in the capital. Those that do own cars in London will usually travel to neighbouring regions to purchase a car, as they often have larger ranges and more space. Given the high average income in the region, used car buyers in the South East are more likely to purchase near-new vehicles, sports cars and other high-end vehicles.
The East of England
The East of England is home to 11.4% industry establishments. The.. purchase to read more