RESEARCH & ANALYSIS
Aftermarket to Grow in 2007 and Beyond, Says AASARESEARCH TRIANGLE PARK, NC (Sept. 15, 2007) - The light-vehicle automotive aftermarket industry is expected to grow over the next several years, with the largest increase predicted for 2007, according to new research from the Automotive Aftermarket Suppliers Association (AASA). A detailed analysis of the size of the aftermarket is included in the recently published 2007-2008 AASA Automotive Aftermarket Status Report, which can be ordered at publications@mema,org. According to AASA, the value of the light-vehicle aftermarket (parts and labor) will break the $200 billon mark within the next few years. The light-vehicle aftermarket reached $185.2 billion in 2006, a 2.9 percent increase over 2005. AASA estimates the light-vehicle aftermarket will finish 2007 at nearly $193 billion, an increase of 4 percent. "We expect the aftermarket to only increase in size in the future," says Steve Handschuh, president and COO of AASA. "Our industry is vital to keeping the 232 million vehicles on U.S. roads running safely and efficiently and, ultimately, in keeping Americans productive and mobile." Vehicles more than 10 years old continued to comprise the largest share of dollars spent, reaching approximately $80.8 billion in 2006. This category, along with the six- to 10-year-old vehicle group, is expected to continue to expand at a stable pace, while new to five-year-old vehicles are projected to reach a peak in 2007 before declining to just short of $45 billion in 2010. (Note: In terms of aftermarket components and services, AASA's size of the aftermarket estimates is restricted to replacement parts and related services and does not include appearance products and services, gasoline, dealer preparation, car audio and entertainment centers, hand tools and service diagnostic equipment and paint and body equipment. AASA's estimates for the light-vehicle aftermarket also exclude warranty work, collision and accessories, but include fleet maintenance and repair. AASA's estimates do not include parts for medium and heavy-duty trucks and trailers, off-highway equipment, farm machinery, motorcycles and scooters, snowmobiles, watercrafts, industrial equipment or recreational vehicles.)(Source: AASA)
Aftermarket to Grow in 2007 and Beyond, Says AASARESEARCH TRIANGLE PARK, NC (Sept. 15, 2007) - The light-vehicle automotive aftermarket industry is expected to grow over the next several years, with the largest increase predicted for 2007, according to new research from the Automotive Aftermarket Suppliers Association (AASA). A detailed analysis of the size of the aftermarket is included in the recently published 2007-2008 AASA Automotive Aftermarket Status Report, which can be ordered at publications@mema,org. According to AASA, the value of the light-vehicle aftermarket (parts and labor) will break the $200 billon mark within the next few years. The light-vehicle aftermarket reached $185.2 billion in 2006, a 2.9 percent increase over 2005. AASA estimates the light-vehicle aftermarket will finish 2007 at nearly $193 billion, an increase of 4 percent. "We expect the aftermarket to only increase in size in the future," says Steve Handschuh, president and COO of AASA. "Our industry is vital to keeping the 232 million vehicles on U.S. roads running safely and efficiently and, ultimately, in keeping Americans productive and mobile." Vehicles more than 10 years old continued to comprise the largest share of dollars spent, reaching approximately $80.8 billion in 2006. This category, along with the six- to 10-year-old vehicle group, is expected to continue to expand at a stable pace, while new to five-year-old vehicles are projected to reach a peak in 2007 before declining to just short of $45 billion in 2010. (Note: In terms of aftermarket components and services, AASA's size of the aftermarket estimates is restricted to replacement parts and related services and does not include appearance products and services, gasoline, dealer preparation, car audio and entertainment centers, hand tools and service diagnostic equipment and paint and body equipment. AASA's estimates for the light-vehicle aftermarket also exclude warranty work, collision and accessories, but include fleet maintenance and repair. AASA's estimates do not include parts for medium and heavy-duty trucks and trailers, off-highway equipment, farm machinery, motorcycles and scooters, snowmobiles, watercrafts, industrial equipment or recreational vehicles.)(Source: AASA)
