Motorists Attitudes to Component Replacement sample pages

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Motorists remain price conscious, particularly in Europe’s leading five markets, where vehicle sales and servicing levels have fallen since the recession. More motorists are buying budget/mid-range products, while others are reducing the frequency of vehicle servicing to cut costs. This report looks at what underpins motorists’ decision to replace parts. Learn more with sample pages from our Motorists Attitudes to Component Replacement report.

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Motorists Attitudes to Component Replacement sample pages

  1. 1. March 2014 Motorists’ attitudes to component replacement | Charlie Schouten page 2 Research from Verdict Automotive shows that although vehicle manufacturer networks still have the ability to dictate which products motorists should and should not purchase, price competitiveness remains a key factor. Many motorists remain acutely price conscious, particularly in Europe’s leading five markets, where levels of vehicle sales and servicing have fallen significantly since the recession of 2008. As a result, more motorists are beginning to turn toward budget and mid-range products in order to cut back on vehicle expenditure, while others are reducing the frequency of vehicle servicing significantly to cut costs. These factors will have far reaching consequences – and also offer many opportunities – to different distribution channels. Major growth opportunities are presented for channels such as fast fits, autocentres and online players, while vehicle manufacturer networks in particular face a battle to maintain their share and sales across many markets. There is also a clear geographical divide in attitude when it comes to the replacement of vehicle parts. The countries covered can be divided into three groups – the leading five European markets, Scandinavia and Eastern Europe, and emerging markets – each of which broadly shares a similar attitude toward part replacement. Consequently, businesses must focus on different areas of the replacement market in each of the different geographical areas. Europe’s leading five markets Verdict’s research shows that in Europe’s leading five markets, part replacement is still largely dictated by a mechanic, meaning that dealerships are likely to remain dominant in the short term. Yet in Eastern Europe and Sweden garages are best placed to take advantage of the consumer trends that are in evidence, meaning that there are significant opportunities for budget and mid-range component manufacturers. Emerging Markets In the emerging markets, vehicle manufacturer networks will face a battle to retain their current leadership of the market as vehicles move out of the warranty period, threatening dealerships in these markets. To find out more about the drivers affecting motorists’ attitudes to part replacement and how understanding them can help channels to compete, please contact enquiries@verdictretail.com The full report is available to purchase in our store.
  2. 2. March 2014 Motorists’ attitudes to component replacement | Charlie Schouten page 3 Some of our aftermarket channel reports HOW MOTORISTS USE THE INTERNET: INSIGHT AND RECOMMENDATIONS ATTITUDES TOWARD VEHICLE SERVICING AND REPLACEMENT: INSIGHT AND RECOMMENDATIONS

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