GfK Releases Report on UK Tyre Market
A much-awaited insight into our local tyre market has become available following the release of the first in a series of regular reports produced by market research company GfK. The GfK report into retail sales of new tyres divides the market into three distinct channels; national multiples (retailers with over 100 branches), regional multiples (10-99 branches) and independents (1-9 branches). Data from thousands of depots has been collected and analysed over a six-month period, and GfK has estimated the total UK new tyre replacement market (for car, 4×4 and light commercial vehicles) to be 28.4 million units.
Commenting on the release of the report, the NTDA spoke favourably on the release of information about a market that had always suffered from a lack of reliable statistics and market data. :The amount of detail available in the reports is astonishing,” said NTDA director Richard Edy. “From basic information, such as market share by channel, GfK can drill down to provide such information as market share by brand, by tyre or rim size, by aspect ratio etc. Plans are in place to provide breakdowns by region – and, because the report is produced monthly, subscribing companies can identify trends and use the knowledge to increase profitability.”