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Viewing report
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Motor Finance Market Assessment 2005
Key Note Publications Ltd, Sep 2005
Executive Summary
1. Introduction
BACKGROUND
OBJECTIVES
METHODOLOGY
DEFINITION
Personal Loans
Hire Purchase
Personal Contract Plans
Cash
2. Strategic Overview
MARKET DYNAMICS AND SEGMENTATION
Market Drivers
New and Used Car Sales
Table 1: New Car and Commercial Vehicle Registrations in the UK by Volume, 2000-2004
Figure 1: New Car and Commercial Vehicle Registrations in the UK by Volume, 2000-2004
Table 2: The Apparent UK Market for Motor Vehicles and Components by Sector by Value (£m at msp), 2000-2004
Car Prices
The Current Status of the Market
Total Industry Value and Growth
Table 3: New Business for Motor Finance in the UK by Value (£m), 2000-2004
Figure 2: New Business for Motor Finance in the UK by Value (£m), 2000-2004
Table 4: New Business for Motor Finance for New Cars by Method of Purchase by Value (£m and %), 2000-2004
Table 5: New Business for Motor Finance for Used Cars by Method of Purchase by Value (£m and %), 2000-2004
The Largest Sector
The Sector with the Highest Growth Rate
The Sector with the Lowest Growth Rate
The Smallest Sector
DISTRIBUTION
Regional Distribution
Table 6: Breakdown of UK VAT-Based Enterprises Engaged in the Motor Trade by Region (number and %), 2004
COMPETITIVE STRUCTURE
Finance Companies
Table 7: Total Lending to Individuals (£m), 2000-2004
Manufacturers
Subprime Lenders
Aggregators
FRAUD AND MONEY LAUNDERING
ADVERTISING
THE CONSUMER
Who is the Consumer?
Table 8: Number of Cars Licensed in the UK (000), 2000-2004
Table 9: Age of Only or Most Recently Purchased Car (% of households), 2004
Factors Affecting the Consumer
Gross Domestic Product
Table 10: UK Gross Domestic Product at Current and Chain-Linked Prices (£m), 2000-2004
Unemployment
Table 11: Actual Number of Unemployed Persons (million), 2000-2004
Household Disposable Income
Table 12: Household Disposable Income per Capita (£), 2000-2004
Inflation
Table 13: UK Rate of Inflation (%), 2000-2004
Equity Withdrawal
Table 14: Mortgage Equity Withdrawal in the UK (£m and %), 2000-2004 and Quarter 1 2005
MARKET FORECASTS
Table 15: Forecast New Business for Motor Finance by Value (£m), 2005-2009
3. New Cars
BACKGROUND
Table 16: UK New Car Registrations by Volume (000), 2000-2004
MARKET SIZE
Table 17: New Business for Motor Finance for New Cars in the UK by Value (£m), 2000-2004
MAJOR SUPPLIERS
Manufacturers
Table 18: Selected Leading UK-Registered Motor-Vehicle Manufacturers by Turnover and Pre-Tax Profit (£m), 2003/2004
Table 19: New Car Registrations in the UK by Manufacturer (number and %), 2003 and 2004
Car Models
Table 20: The Top Ten Car Models in the UK by New Registrations (number and %), 2004
MARKETING ACTIVITY
ADVERTISING
Table 21: Main Media Advertising Expenditure by Motor Manufacturers (£000), Years Ending March 2004 and 2005
DISTRIBUTION
Table 22: Selected Leading UK-Registered Motor Dealerships by Turnover and Pre-Tax Profit (£m), 2003/2004
4. Used Cars
BACKGROUND
MARKET SIZE
Table 23: New Business for Motor Finance for Used Cars in the UK by Value (£m and %), 2000-2004
DISTRIBUTION
5. Personal Loans
BACKGROUND
MARKET SIZE
Table 24: Personal Loans to Finance New-Car Purchases in the UK by Value (£m), 2000-2004
Table 25: Personal Loans to Finance Used-Car Purchases in the UK by Value (£m), 2000-2004
MARKET SHARE
Table 26: Typical Offerings for Unsecured Loans (% and £), August 2005
CONSUMER TRENDS
ADVERTISING
Table 27: Main Media Advertising Expenditure on Secured Personal Loans (£000), Years Ending March 2004 and 2005
Table 28: Main Media Advertising Expenditure on Unsecured Personal Loans (£000), Years Ending March 2004 and 2005
DISTRIBUTION
INSURANCE
6. Hire Purchase
BACKGROUND
MARKET SIZE
Table 29: Hire Purchase to Finance New-Car Purchases in the UK by Value (£m), 2000-2004
Table 30: Hire Purchase to Finance Used-Car Purchases in the UK by Value (£m), 2000-2004
CONSUMER TRENDS
MARKETING ACTIVITY
DISTRIBUTION
7. Personal Contract Plans
BACKGROUND
MARKET SIZE
Table 31: Personal Contract Plans to Finance New-Car Purchases in the UK by Value (£m), 2000-2004
Table 32: Personal Contract Plans to Finance Used-Car Purchases in the UK by Value (£m), 2000-2004
CONSUMER TRENDS
MARKETING ACTIVITY
ADVERTISING
Table 33: Main Media Advertising Expenditure on Personal Contract Plans (£000), Years Ending March 2004 and 2005
DISTRIBUTION
8. An International Perspective
MARKET DEVELOPMENTS
The Global Car Industry
Table 34: Global Production of Passenger Cars and Commercial Vehicles by Country by Volume (number and %), 2002 and 2003
Figure 3: Global Production of Passenger Cars and Commercial Vehicles by the Top Ten Countries by Volume (number), 2002 and 2003
Europe — Block Exemptions
EUROPEAN CAR MARKET
By Volume
Table 35: New Registrations of Passenger Cars and Commercial Vehicles in Europe by Country (number), 2000-2004
CONSUMER BEHAVIOUR
9. PEST Analysis
POLITICAL FACTORS
ECONOMIC FACTORS
SOCIAL FACTORS
TECHNOLOGICAL FACTORS
10. Consumer Dynamics
INTRODUCTION
Table 36: Summary of Results (% of respondents), 2005
OWNERSHIP OF CARS
'Owning A Car Outright Is Important To Me'
'I Use My Car As A Means Of Getting From A To B, Rather Than As A Status Symbol'
Table 37: Importance of Outright Car Ownership, and Cars as a Means of Transport Rather than a Status Symbol (% of respondents), 2005
FEW REPLACE THEIR CAR REGULARLY
'I Replace My Car Regularly'
'I Intend To Finance My Next Car In The Same Way As My Last Car'
Table 38: Regularly Replacing Cars, and Financing the Next Car in the Same Way as the Last Car (% of respondents), 2005
CASH PAYMENT MORE POPULAR THAN LOANS FROM A CAR DEALER
'The Next Time I Buy A Car I Will Pay For It Outright In Cash'
'I Expect To Finance My Next Car Through A Loan Arranged Through A Car Dealer'
Table 39: Importance of Outright Car Ownership, and Financing the Next Car Through a Loan Arranged Through a Car Dealer (% of respondents), 2005
FEW PLAN TO PURCHASE A CAR USING FINANCE ARRANGED ONLINE
'I Expect To Finance My Next Car Through Finance Arranged Online'
'I Expect To Finance My Next Car Through A Car Manufacturer Direct'
Table 40: Expectations of Financing Cars Through Finance Arranged on the Internet, and Direct Through a Car Manufacturer (% of respondents), 2005
SLIGHTLY MORE PLAN TO BORROW TO PURCHASE A USED CAR THAN A NEW ONE
'I Expect To Borrow To Buy A New Car'
'I Expect To Borrow To Buy A Used Car, Which Will Be Up To 1 Year Old'
Table 41: Expectations of Borrowing Money to Buy a New Car, and a Used Car Less Than 1 Year Old (% of respondents), 2005
'I Expect To Borrow To Buy A Used Car Over 1 Year Old'
'I Do Not Drive/Have A Car'
Table 42: Expectations to Borrow to Buy a Used Car Over 1 Year Old, and Do Not Drive/Have a Car (% of respondents), 2005
HIRE PURCHASE HAS LITTLE APPEAL
'I Intend To Lease My Next Car'
'The Next Time I Buy A Car I Will Use Hire-Purchase Finance'
Table 43: Intention to Lease the Next Car, or to Use Hire Purchase to Finance the Next Car (% of respondents), 2005
LITTLE ENTHUSIASM FOR DEFERRED PAYMENT PLANS
'I Will Finance My Next Car By A Deferred Payment Deal'
'I Expect To Finance My Next Car Through A Loan From My Bank'
Table 44: Financing the Next Car Using Deferred Payment, and Through a Bank Loan (% of respondents), 2005
FEW PLANNING TO TAKE OUT A LOAN FROM THEIR BUILDING SOCIETY
'I Expect To Finance My Next Car Through A Loan From My Building Society'
Table 45: Expectation of Financing the Next Car with a Building Society Loan (% of respondents), 2005
11. Company Profiles
INTRODUCTION
ALLIANCE & LEICESTER PLC
Corporate Strategy
Strengths and Weaknesses
New Product Development
Brand Development
Innovations
Research
Appointments
Advertising
Profitability
Future Company Developments
AUTOMOBILE ASSOCIATION
Corporate Strategy
Strengths and Weaknesses
New Product Development
Brand Development
Innovations
Research
Appointments
Advertising
Profitability
Future Company Developments
BARCLAYS PLC
Corporate Strategy
Strengths and Weaknesses
New Product Development
Brand Development
Innovations
Research
Appointments
Advertising
Profitability
Future Company Developments
FORD MOTOR CREDIT
Corporate Strategy
Strengths and Weaknesses
New Product Development
Brand Development
Research
Appointments
Advertising
Profitability
Future Company Developments
GE CAPITAL WOODCHESTER LTD
Corporate Strategy
Strengths and Weaknesses
New Product Development
Brand Development
Innovations
Research
Appointments
Advertising
Profitability
Future Company Developments
GMAC FINANCIAL SERVICES
Corporate Strategy
Strengths and Weaknesses
New Product Development
Brand Development
Innovations
Research
Appointments
Advertising
Profitability
Future Company Developments
HBOS PLC
Corporate Strategy
Strengths and Weaknesses
New Product Development
Brand Development
Innovations
Research
Appointments
Advertising
Profitability
Future Company Developments
HSBC HOLDINGS PLC
Corporate Strategy
Strengths and Weaknesses
New Product Development
Brand Development
Innovations
Research
Appointments
Advertising
Profitability
Future Company Developments
LLOYDS TSB GROUP PLC
Corporate Strategy
Strengths and Weaknesses
New Product Development
Brand Development
Innovations
Research
Appointments
Advertising
Profitability
Future Company Developments
NATIONWIDE BUILDING SOCIETY
Corporate Strategy
Strengths and Weaknesses
New Product Development
Brand Development
Innovations
Research
Appointments
Advertising
Profitability
Future Company Developments
PARAGON CAR FINANCE
Corporate Strategy
Strengths and Weaknesses
New Product Development
Brand Development
Innovations
Research
Appointments
Advertising
Profitability
Future Company Developments
THE ROYAL BANK OF SCOTLAND Group PLC
Corporate Strategy
Strengths and Weaknesses
New Product Development
Brand Development
Innovations
Research
Appointments
Advertising
Profitability
Future Company Developments
12. The Future
THE ECONOMY
Gross Domestic Product
Table 46: Forecast UK Growth in Gross Domestic Product in Real Terms (%), 2005-2009
Inflation
Table 47: Forecast UK Rate of Inflation (%), 2005-2009
Unemployment
Table 48: Forecast Actual Number of Unemployed Persons (million), 2005-2009
Other Economic Indicators
Demographics
Table 49: The Projected UK Population by Age, 2002, 2006 and 2011
MERGERS AND ACQUISTIONS
FORECASTS 2005 TO 2009
Table 50: Forecast New Business for Motor Finance in the UK by Value (£m), 2005-2009
Figure 4: Forecast New Business for Motor Finance in the UK by Value (£m), 2005-2009
MARKET GROWTH
Figure 5: Forecast New Business for Motor Finance in the UK by Value (£m), 2000-2009
13. Consumer Confidence
METHODOLOGY
THE WILLINGNESS TO BORROW
Table A: The Average Amount Consumers Are Willing to Borrow in Order to Purchase Expensive Items at Current and Constant May 2003 Prices (£ and £bn), May 2003, November 2004, February 2005 and May 2005
Consumers Willing to Borrow
Table B: The Number of Adults Willing to Borrow in Order to Purchase Expensive Items (000 and %), May 2003, November 2004, February 2005 and May 2005
THE WILLINGNESS TO SPEND FROM SAVINGS
Table C: The Average Amount Consumers Are Willing to Spend from Savings in Order to Purchase Expensive Items at Current and Constant May 2003 Prices (£ and £bn), May 2003, November 2004, February 2005 and May 2005
Table D: The Average Amounts Adults Are Confident Spending To Purchase Expensive Items (£ and %), May 2003, November 2004, February 2005 and May 2005
14. Further Sources
Associations
Publications
General Sources
Government Sources
Other Sources
Bonnier Information Sources
Customers who bought this item also bought
MFBI UK Retail Car Finance Market 2004
The UK Retail Car Finance Market 2009
UK Car Loans 2004
UK Motor Finance 2003
Personal Loans Market Assessment 2008
Introduction to the Vietnamese Passenger Car Market
Car Sharing in the United States 2009
UK Motor Finance 2002
Introduction to the Romanian Passenger Car Market
Introduction to Kazakhstani Passenger Car Market
Hybrid Car Market Forecast to 2012
MFBI Future of the UK Used Car Market 2006
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