Foreign Nameplates to Account for 52 Percent of Repair 'Sweet Spot'
June 27, 2017—Lang Marketing estimates foreign nameplates will account for approximately 52 percent of all cars and light trucks six to 10 years old in the U.S. at mid-year 2017—the "sweet spot," according to Jim Lang, president of the company.
Foreign nameplates have significantly expanded their new vehicle sales share over the past 25 years, the report said, climbing from 38 percent of 2002 volume to 46 percent of the 2006 market and nearly half, 49 percent, of new car and light truck 2007 sales. Foreign nameplate aftermarket product sales climbed at a 5.7 percent average annual rate between 2011 and 2016, over twice the average annual aftermarket product growth of all vehicles.
From less than 27 percent of vehicles six to 10 years of age during 2000, foreign nameplates climbed to 43 percent of the repair-age sweet spot during 2014. And now, since foreign nameplates have topped 54 percent of new vehicle sales from 2008, they are virtually guaranteed a majority of the repair-age sweet-spot for the foreseeable future.
This growth has had a significant impact on the share of aftermarket product volume generated by foreign nameplates, Lang said.