Vehicle aftermarket sales outpace overall US economy
Aug 1, 2003 12:00 PM
The size of the United States motor vehicle aftermarket grew by 3.7% in 2002 to $237.1 billion, according to the AAIA 2003/2004 Aftermarket Factbook, published by the Automotive Aftermarket Industry Association (AAIA).
“Despite declining consumer confidence, economic uncertainty, and high unemployment in 2002, the automotive aftermarket outpaced the overall US economy, which experienced a 2.4% increase in the gross domestic product,” said Alfred L Gaspar, AAIA president and chief executive officer.
Highlights of the Factbook include:
Vehicle service repair, accounting for two-thirds of total automotive aftermarket sales, rose 4.9% to $126.5 billion.
Do-it-yourself sales were up 4.4% in 2002.
The number of aftermarket industry mergers and acquisitions remained relatively unchanged from the previous year.
Collision repair sales climbed 5.6% to $32.4 billion.
US motor vehicle parts and accessories exports rose 0.5% to $48.1 billion.
Medium- and heavy-duty aftermarket product sales increased by 1% to $61.5 billion.
The four-color publication is available for $95 for AAIA members and $195 for non-members. To order, phone 301-654-6664 or order online at www.aftermarket.org.
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