Home Key Note Report: Automotive Services Sector Boosted by Rising Vehicle Registrations

Key Note Report: Automotive Services Sector Boosted by Rising Vehicle Registrations

Press Release: July 24, 2015

Release date: Immediate Release

According to Automotive Services, a new Market Update from Key Note, the value of the automotive services sector in the UK grew by 25.9% between 2010 and 2014.

One explanation for this robust rise is the continual good news regarding new vehicle registrations, which includes the recent revelation that the first 6 months of 2015 represented a record half-year for UK new car registrations, with the 1,376,889 registrations in this period being 7% higher than the previous year. In more good news for the sector, June also represented the 40th consecutive month of growth in the market.

One of the most noticeable features of this growth has been the surge in demand for alternatively fuelled vehicles (AFVs), with volumes rising by 70.9% in June alone, and while fleet registrations as a whole continue to drive overall growth, registrations to private customers also remain impressive.

Various suggestions have been offered as a means of explaining the strong demand. For instance, in addition to an improving economic climate and rising disposable incomes, the current range of attractive financing deals, combined with an impressive multitude of new models featuring all the latest technologies, have all contributed towards encouraging consumers to purchase new vehicles.

Alongside new cars, registrations of commercial vehicles also remained strong throughout the first 6 months of the year. The development offers a valuable boost to enterprises engaged in automotive services because, as might be expected, a rise in the number of vehicles on UK roads will almost certainly translate into increased demand for such services. This Key Note Market Update includes figures that show, for example, that between 2010 and 2014, the number of vehicles in use grew by almost 1.7 million.

In addition to the aforementioned, Key Note’s 2015 Automotive Services Market Update evaluates the UK market for automotive services in terms of size and performance. The report also analyses evident market trends, for instance fuel duty, Vehicle Excise Duties (VEDs), vehicles ownership statistics, a comparison of EU fuel prices, and the number of enterprises and staff engaged in the sector. In addition, the report includes a political, economic, social, technological, environmental and legislative summary of the market.

Ends

Press enquiries: Adam Pembrey at Key Note at apembrey@keynote.co.uk or 0845 504 0452. Press/review copies of the report are available on request.

Notes to editors:
Key Note’s 2015 Market Update, Automotive Services, analyses the market automotive services in the UK.

Key Note Ltd has been providing commercially relevant market information to libraries, academia and businesses since 1978. With over 1,000 titles available across 22 market sectors, and new or updated titles published every month, Key Note is one of the UK’s most prolific and respected business information providers. Within the range, some reports are written in response to particular market conditions, whereas other reports will be produced regularly year on year.

Key Note’s 2015 Market Update, Automotive Services, is available to purchase from Key Note on 0845-504 0452, by e-mail at sales@keynote.co.uk or at www.keynote.co.uk, priced £575.

Notes to editors

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