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RELEASED: MAY 2008
After researching the UK car dealers market development and taking into account various other factors the following conclusions can be drawn from MBD's report:
MARKET REVIEW 2003-2007:
MBD believe the value of car sales declined by 2% to a period low of £64.9 billion in 2007. This consolidates the trend for reduction evident in the previous two years, reflecting the slowdown in the economy and lower consumer spending as a result of interest rate hikes. Prior to that, the value of car sales increased by 6% and a moderate 2% in 2003 and 2004 respectively, to a peak of £67.5 billion in the latter year. Over the review period as a whole an estimated overall decline of 2% was recorded.
MARKET FORECAST 2007-2011:
The UK car sales market is anticipated to decline by 2% in 2008, reflecting the anticipated downturn in the UK economy and lower levels of consumer spending. This trend for decline is projected to carry on during 2009 although at a more marginal level. However from 2010 onwards, MBD believe the car market will increase year-on-year to a peak of £65.9 billion (at 2007 prices) in 2012. This represents an overall real term increase of 3%. Projected sales growth reflects population growth and the trend toward shorter replacement cycles.
NOTE TO EDITORS:
MBD specialises in business to business market research. The range of reports and industries in which we operate in constantly expanding (our portfolio comprises of more that 140 titles). All our reports are written by in-house market consultants.
Click here for full details of the UK Car Dealers Market Research Report
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