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Essay / Research Paper Abstract
This 12 page paper examined the retail car market in the UK in order to assess whether there is any potential for a new entrant. The paper starts by looking at sales trends over 2007 and 2008, including the amount and the changes in sales levels, the trends in the type of cars demanded and the predictions for future sales levels as well as economic and social influences on car sales. The paper then looks at the level of competition in the industry, the profit made by the firms competing and the spending patterns of the consumers. The paper ends with a recommendation. The bibliography cites 11 sources.
Page Count:
12 pages (~225 words per page)
File: TS14_TEcarUK09.rtf
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Unformatted sample text from the term paper:
market it is essential that the current state of the market is understood in order to identify any potential areas of opportunity and threat, this is especially true if a
firm is entering a foreign market, as the market and the competition need to be considered. If looking at entering the UK new car market the market and influences on
that market need to be considered. 2. Retail Trends The retail trends in the UK for new car sales are measured through the new registrations that take place. .
In 2008 new car sales were 2.1 million, which was a fall of 11% on the previous year (2006) (Milner, 2009). In total 2,131,795 new registrations took place in 2008,
these were for both domestic sales and for fleet car sales, the sales figures for 2007 were 2,404,001 (The Herald, 2009). The
fall was not even throughout the year, sales showed a distinct deceleration in the latter part of the year. By August 2008 the overall decline in terms of year on
year sales was only 3.8% (BBC News, 2008). However, August, which is traditionally a busy month for new registrations, showed a sharp decline with an 18.6% fall in sales compared
to 2007, with only 63,225 new registrations that month (BBC News, 2008). This was the lowest level of sales for August sales in any year since 1966 (BBC News, 2008).
It appears that August marks the start of the most significant decline period off the year, which impacted on the overall figures quoted above.
In December 2008 there was a 21.2% drop in year on year sales with 108,691 new registrations for that month. When looking at the last quarter the future was
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