The automotive aftermarket industry is experiencing rapid growth all over the globe. This market is typically the most recession-resistant segment of the industry, depending on the size of the car parc and the number of new vehicles sold. With economic pressures increasing, repairs are becoming more necessary for older vehicles. The demand for services and replacement parts is increasing. These are some of the factors that drive this market: For those who have any queries with regards to in which in addition to the best way to work with Mazda Car Mats, you can e mail us with the internet site.

It is likely that the decline in vehicle sales in Europe and the United States will continue for some time. These regions had been expected to experience a stronger growth rate before the coronavirus spread to the rest of the world. The impact on vehicle sales may be more severe if the coronavirus spreads even further across Europe. The dramatic rise in vehicle use in China may mask the impact in other areas. So, revenue planning should take this into account.

Automotive Aftermarket Factors affecting Car Dealership Revenue 1

There are two types of automotive aftermarket: DIY (do it yourself) and DIFM (do it yourself). This category includes consumers with the technical skills and knowledge to fix and maintain their vehicles. Meanwhile, the former category is comprised of consumers who would prefer to have their parts installed by professionals. Based on the purchase price of parts, both DIY and aftermarket service providers account for roughly 20% of total market.

Digital channels have transformed the automotive aftermarket. E-commerce automotive websites such as eBay Motors and Amazon Marketplace provide shoppers with the perfect solution for non-mission-critical parts. E-commerce platforms make it easy for consumers to review products and browse through product listings. They also allow them to get fast delivery. E-commerce has also transformed the automotive aftermarket. This market has experienced a rapid explosion due to the popularity of ecommerce. And, as a result, more consumers are choosing to purchase their car online.

The distribution network for the automotive aftermarket market is complex and varied. Many parts move through many channels from the manufacturer to the end consumer. The two-step distribution model, which saw parts being sold first through distributors then to retailers and consumers, was the traditional distribution model. More auto parts manufacturers sell directly to consumers today via the internet, bypassing traditional distribution channels. These companies have created a market that is expanding in size and complexity. All of these factors have contributed to the rising competitiveness within the automotive aftermarket.

Automotive Aftermarket Industry Week, an important event in this industry, is held every year. The SEMA Show, the industry’s premier tradeshow, connects individuals and companies from all over the world. More than 2,400 exhibitors exhibit the latest products and services that improve the performance, styling, comfort, and convenience of vehicles. There are also several events to explore the aftermarket in terms of powersports, off-road performance, Resource and tools used in work on vehicles. These events are worth your time so why not?

In the US alone, the automotive aftermarket employs 4.5 million people and is estimated to be worth more than $722.8 billion by 2020. There are approximately 265,000 automotive parts and services shops across the country. The industry’s growth has meant that the demand for automotive technicians has been growing at a faster rate than the growth in employment for almost ten years. According to the U.S. Bureau of Labor Statistics, the market for light duty accessories and parts in automotive will grow by 4% in 2022. This makes it one of America’s fastest-growing industries.

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