This industry encompasses a wide variety of companies and organizations that design, develop, manufacture, market, sell, repair, and modify motor vehicles. As a result, it has become one of the largest industries in the world (from 16 percent in France up to 40 percent in countries such as Slovakia) by revenue. Additionally, it is the industry that spends the most on research and development per firm.
We should first define these two terms in order to avoid confusion. Using left-hand drive means driving a car on the right side of the road, as the steering wheel is on the left side of the vehicle.
As for right-hand drive, the steering wheel is located on the right side of the vehicle, meaning the car is driven on the left side of the road. Manual transmissions differ significantly from left-hand drive cars in that they require the driver to change gears manually.
There is no doubt that the automotive industry is an important part of the UK economy and plays an important role in meeting the objectives of levelling up, net zero, the plan for growth, and advancing global Britain,. In addition to contributing £67 billion in turnover and $14 billion in value added to the UK economy, the automotive sector typically invests around £5 billion in research and development each year.
The UK automotive sector employs more than 195,000 people, generating £88 billion in trade each year. Over 150 countries import UK-manufactured vehicles, generating 10% of total UK exports.
With over 30 manufacturers and 2,500 component suppliers in the UK, there are more than 70 car models of vehicles built each year. It is estimated that 1.6 million engines and 869,000 cars will be built in the UK by 2021. A total of 130 different markets are served by eight out of ten cars produced in the UK.
There are various types of used cars, including those that have been purchased by one or more previous owners. There are a variety of places where used cars can be purchased, including rental car companies, car franchises, independent dealerships, auctions, and private parties.
Market segments include fuel type, body type, vendor type, and channel of distribution for the United Kingdom Used Car Market.
In terms of fuel type, the United Kingdom used car market can be classified into petrol, diesel, electric, and others. Market segmentation is based on body type, including hatchbacks, sedans, SUVs, and MPVs.
Organized and unorganized vendors make up the market segmentation by vendor type. In terms of sales channel, the market can be divided into online and offline. All the above segments are included in the report, along with their size and forecast in terms of value (USD Billion).
Through its membership, the Sell My Left Hand Drive Car represents companies involved in designing, manufacturing, developing, selling, disposing, after-sale, recycling, and disposing of motor vehicles.