May 30, 2018—According to Jim Lang and the latest Lang Aftermarket iReport, domestic nameplate car and light truck auto repair products achieved only marginal growth between 2012 and 2017, an estimated $600 million. This lethargic product increase sharply reduced the aftermarket's product share of domestic nameplates.
However, foreign nameplate products soared by more than one-third between 2012 and 2017, more than $11 billion at user-price.
"Foreign nameplate cars and light trucks increased their (auto repair) product sales at more than twice the annual pace of the overall DIFM market and more than 22 times the yearly growth rate of (auto repair) products for domestic nameplates during these five years," Lang says.
Some other major takeaways from the report:
- Car and light truck product sales across the U.S. soared more than $12 billion between 2012 and 2017, at user-price.
- Foreign nameplates generated 94 percent of all car and light truck product growth at user-price during this five-year span.
- Foreign nameplate products soared at a 6.4 percent average annual pace between 2012 and 2017, over 22 times the yearly growth rate of domestic nameplate products.
- The foreign nameplate market surged more than $11 billion, fueling 94 percent of the total product expansion over this five-year span.
- Lang Marketing projects that foreign nameplates will generate all DIFM product growth in the car and light truck aftermarket during 2018 through 2020.
