“The $8 billion increase came despite a strong general performance of the aftermarket and tied with the second-highest level ever recorded by AASA, which was reached during the recovery from the last economic downturn,” said Steve Handschuh, president and COO of AASA. “This $62 billion “Untapped Market” represents a significant 26 percent of total aftermarket potential.
If consumers performed all of the maintenance recommended to keep their vehicles safe, reliable and running efficiently, the aftermarket could have totaled $245 billion,” noted Paul McCarthy, AASA vice president, industry analysis, planning and member services.
Tight household budgets and high unemployment caused many vehicle owners to put off maintenance and repairs unless it was unavoidable, noted McCarthy. “Going forward, the weak economic recovery and continued high unemployment levels may continue to keep the amount of maintenance motorists postpone at a high level,” he said.
The AASA “Automotive Aftermarket Status Report” provides 15 chapters of key aftermarket industry data, including:- LMaintenance
- Engine
- Undercar
- Cooling / A/C
Also available at the site are AASA’s two other recent research publications:
- 2012 World Motor Vehicle Market
Report – produced annually by the AASA Overseas
Automotive Council, the World Motor Vehicle
Market Report is one of the industry’s oldest
and most respected global statistical analyses
and features:
- Vehicle production and
assembly
- Vehicle census summary
- U.S. Motor Vehicle parts trade
worldwide
- World Motor Vehicle Markets
- Vehicle production and
assembly
- 2012 Replacement Rates of U.S. Automotive Parts - the handy table showing the percentage of private vehicles receiving specified maintenance, which can be used to calculate product durability, market size estimates and service job variables.
