Europe Tyre Market Industry Developments: Ken Research

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Consumer reaction to economic pressures has shaped the tyre market for the past six years, with motorist austerity becoming widespread, deferral of replacement becoming more prominent and price becoming the greatest influencer when choosing a tyre for many. This report draws on Verdict’s unique aftermarket and survey data to explore the factors shaping consumer trends in the European tyre market.

Synopsis

Brand loyalty in Europe is low, with typically less than 10% of motorists placing high importance on brand loyalty when purchasing tyres. In the UK, only 7% of motorists placed any importance on brand loyalty, while of the leading five markets, France is the only market where more than 10% of motorists place any major emphasis here.

In Lithuania, only 35% of motorists replaced their tyres based on their dealership’s recommendation, and in Poland only 44% did so, compared to 62% in the UK and 59% in Germany. This suggests that, when it comes to choosing a particular brand, motorists in these countries will be more interested in cost savings.

Many motorists in mature European markets did not actually know how often their tyres were replaced in terms of accumulated mileage or years. This figure was highest in the UK, where 61% of motorists did not know, while in most of the other mature European markets, this figure was typically over 40%; only Italy, with 39%, had a lower proportion.

Reasons To Buy

  • Understand how consumer trends influence how and where motorists get their tyres replaced.
  • Target which markets are most and least likely to use particular types of tyres, and see their growth potential.
  • See how the value and volume of the European tyres market will change over time by region and by channel.

Your key questions answered

  • Which markets demonstrate the greatest growth potential for tyres and which channels will benefit?
  • How do motorists decide which brand of tyres to buy, what influences the decision and what opportunities does this present for retailers?
  • What opportunities exist for all channels to maximise their potential share of the tyre market?
  • How can manufacturers and retailers encourage uptake of winter tyres?

 

To know more, click on the link below:

https://www.kenresearch.com/automotive-transportation-and-warehousing/automotive-and-automotive-components/consumer-trends-in-the-european-tyre-market/4751-100.html

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Contact Us:
Ken Research
Ankur Gupta, Head Marketing & Communications
ankur [@] kenresearch.com
+91-9015378249
www.kenresearch.com

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