Chris Hadley Consulting conducted a comprehensive review of the UK parts aftermarket, exploring recent trends and the impact of both the post-COVID cost of living crisis and evolving purchasing habits. The research aimed to assess the impact of these changes on how sellers and buyers approached the market and the prevailing consumer attitudes towards the purchasing and replacement of car parts.

The investigation identified three significant trends affecting the replacement parts market. Firstly, the study noted a marked increase in price inflation, particularly noticeable in essential components such as tyres, throughout 2023. Secondly it noted a shift in purchasing patterns with increased acceptance of online channels for buying certain car parts. Lastly, the review highlighted the growing impact of vehicle reliability on the market with a reduction in the frequency of failures shifting the consumer focus from emergency replacements towards regular maintenance and servicing.

The research also cast light on emerging demographic trends, particularly noting an increased demand for used and refurbished parts among younger adults under 30. This shift is expected to significantly influence supplier strategies in the sector. Additionally, the evolving automotive market, with a gradual transition from internal combustion (IC) engines to hybrid and fully electric vehicles (EVs), was identified as a dynamic likely to reshape demand patterns. This transition presents a mix of challenges and opportunities for parts suppliers as they adapt to the changing technological landscape.