Between 2013 and 2023, the UK market for passenger vehicles with spark-ignition engines under 1,500 cm³ showed fluctuating trends. Starting at 773.7 thousand units in 2013, the market grew to 880.8 thousand units by 2023. There were notable declines in 2016, 2017, and especially in 2020. However, recovery occurred post-2020, with a year-on-year growth of 1.3% observed in 2023 and a CAGR of 2.09% over the past five years, suggesting a stabilization trend.
Future trends to watch include:
- Advancements in fuel efficiency and environmental regulations potentially impacting market dynamics.
- The gradual shift towards electric vehicles may affect demand for smaller spark-ignition engines.
- Economic factors such as consumer confidence and purchasing power influencing future growth.
