Foreign Specialists Lead Auto Service Growth
Feb. 21, 2018—Specialists that focus on foreign OEMs will record the highest annual pace of auto service product growth during 2018 and 2019, expanding product sales at nearly a 5 percent annual pace, according to Lang Marketing.
This will reflect the fast-growing foreign nameplate aftermarket in the U.S. as well as the strong position of foreign specialists in the auto service sector.
Foreign specialists will add more than $800 million in auto service market product volume at user-price during 2018 and 2019, the strongest annual percentage gain among the seven leading types of repair outlets in the U.S. aftermarket. Foreign Specialists will generate over 17 percent of total auto service market product growth during this 2-year period.
This market growth share will be approximately twice the size of their average light vehicle vehicle service product share during these two years.
Other Major Takeaways:
- Foreign specialists will occupy fourth place in overall car and light truck auto service product volume during 2018 and 2019.
- Foreign specialists will reach nearly $9 billion in foreign nameplate 2019 product volume, nearly one-fifth of the total 2019 foreign vehicle service market.
- Reflecting their expanding population (up more than 500 locations during 2018 and 2019), foreign specialists will add approximately 1,700 service bays nationwide, ranking second in light vehicle bay growth during this two-year span.