U.S. Aftermarket Expected to Grow Through 2017
May 14, 2014—The U.S. automotive aftermarket is expected to grow on a compound annual growth rate of 3.4 percent until 2017, according to the 2014 Join Channel Forecast Model produced by the Automotive Aftermarket Suppliers Association (AASA) and the Auto Care Association.
The report also predicted that total aftermarket sales will grow from $238.4 billion in 2013 to $273.4 billion in 2017, an increase of $35 billion over the four-year period.
“The forecast model demonstrates that despite strong new vehicle sales, historic high gas prices and a flattening of miles driven, our industry is poised for steady growth,” said Kathleen Schmatz, president and CEO of the Auto Care Association. “Why? The average age of vehicles is 11.4 years, the oldest ever, and the age mix of vehicles continues to favor older vehicles, creating a robust sweet spot for service and repair.”
For the full report, visit autocare.org.