Light Truck Recovery Sales Surge Auto Aftermarket
Dec. 31, 2014—Over the past five years, light truck aftermarket products in the U.S. saw product growth of more than $17 billion, according to a report from automotive consultancy company Lang Marketing.
Over the same period of time, traditional cars fell $3 million in product sales at user-price.
Between 2000 and 2010, aftermarket product use per vehicle inched up 8 percent, while the number of cars and light trucks in the U.S. climbed nearly 15 percent. Light trucks accounted for all light vehicle population gain in the U.S. during 2000 through 2010 (increasing by more than one-third) as the number of cars fell nearly 10 million.
Light trucks also were responsible for virtually all average vehicle annual product growth during 2000–2010.
Light trucks accounted for an estimated 68 percent of domestic nameplate new vehicle sales in the U.S. during 2014. In contrast, passenger cars fell from 37 percent of domestic nameplate sales in 2008 to only 32 percent of 2014 domestic nameplate new volume.
"Falling pump prices are shifting new vehicle sales in the U.S. toward light trucks,” Jim Lang of Lang Marketing said in a release. “During 2014, light truck sales (SUVs, pickups, and vans) climbed 7 times faster than passenger car volume in the U.S., generating an estimated 52 percent of new vehicle sales."