Automotive Aftermarket Industry Analysis 2023

The automotive aftermarket grew 9.7% in 2022, outperforming expectations (previously forecast at 8.5%). With high inflation persisting, the industry is expected to grow an additional 8.1% in 2023. The auto care industry continues to show its reliability and ability to adapt across the service and retail sectors, continually adjusting to meet demand in an ever-dynamic market. READ MORE  

Solid Fundamentals Versus Economic Uncertainty

If it were up to the fundamentals of the aftermarket, we would enjoy strong parts sales for the rest of the year and would only need inflation for a little extra boost. As it is, though, the fundamentals – the number of vehicles, their average age, and the miles they travel – are battling economic conditions to control near-term sales. READ MORE