Small Car Segments to Reach 45% Share of the UK Car Market by 2020, According to Euromonitor

Small Car Segments to Reach 45% Share of the UK Car Market by 2020, According 
to Euromonitor 
Euromonitor International Release New Automotive Market Research 
LONDON, UNITED KINGDOM -- (Marketwire) -- 02/11/13 -- A recent report
from market research company Euromonitor International, 'Demographic
And Consumer Lifestyle Trends Driving Right-Sizing in the UK Car
Market' indicates changing lifestyle trends in the UK have created a
shift towards smaller cars. 
Small car segments accounted for less than 30% of the UK passenger
car market until 1999, but passed the 40% mark ten years later in
2009.  
"Even without the stimulus of a scrappage incentive scheme, consumers
continue to switch from lower medium cars to offerings in the
supermini and even mini segments. Combined, they increased their
share of the market again in 2012 - back up to 40%. As vehicles have
grown in size, right-sizing is a more appropriate term than
down-sizing," explains Neil King, automotive industry analyst at
Euromonitor International.  
The proliferation of households with one or two people, women
maintaining an independent lifestyle until their first marriage and
the continued growth of the UK's younger generation - to expand to
one in seven Britons by 2030 - are all signs of a major shift that is
shaping automotive demand in the UK.  
"There are plenty of opportunities for car manufacturers to
capitalize on this growing automotive market trend. Small but
distinctive cars such as the Citroen DS3, Nissan Juke and the Mini
are just some of the successful small models in mature markets such
as the UK," King adds. 
"European mainstream carmakers, in a similar way as FIAT with the
FIAT 500 and, most recently, GM with the Vauxhall/Opel Adam, should
rightly look to extend their portfolio of aspirational small cars." 
For further information on the report: http://www.euromonitor.com/dem
ographic-and-consumer-lifestyle-trends-drive-right-sizing-in-the-uk-c
ar-market/report. 
About Passport Automotive 
Passport: Automotive builds on Euromonitor's data and analysis around
consumer lifestyles, income and expenditure and household profiles in
over 200 countries as well as related industries such as Consumer
Electronics, Consumer Finance and Travel and Tourism to offer a
detailed understanding of the future automotive environment.  
With the diversity of existing content in Passport, Euromonitor's
leading online research database, the company is ideally positioned
to meet the automotive industry's evolving information needs. 
About Euromonitor International 
Euromonitor International is the world's leading provider for global
business intelligence and strategic market analysis. We have more
than 39 years of experience publishing international market reports,
business reference books and online databases on consumer markets.  
We deliver market research solutions to support strategic planning
for today's increasingly international business environment. Our
research offers in-depth market analysis on consumer goods and
services industries worldwide, as well as economic, demographic and
socio-economic data and insight on countries and consumers.  
Euromonitor International is headquartered in London, with regional
offices in Chicago, Singapore, Shanghai, Vilnius, Santiago, Dubai,
Cape Town, Tokyo, Sydney and Bangalore, and has a network of over 800
analysts worldwide. 
Contacts:
Euromonitor International
Marie-Ange Nouroumby
Communications Executive
+44 207 251 8024 EXT 3016
marie-ange.nouroumby@euromonitor.com
www.euromonitor.com
 
 
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