I’m even more bullish on our industry this week than before.
We just released a report, called
the Channel Forecast
Model, which predicts 3.4 percent annual growth through 2016 for the
automotive aftermarket industry, likely to continue outpacing growth of the
The forecast demonstrates that
despite facing strong new vehicle sales, historic high gas prices and a
flattening of miles driven, our industry is poised for steady growth. Among the
positive market drivers is the oldest-ever average vehicle age of 11.3 years,
and the overall age mix of vehicles, which continues to favor older vehicles.
Our association partnered with the
Automotive Aftermarket Suppliers Association to produce the model to create a
single and unified view of industry size, growth rate and outlook. The complete
Channel Forecast Model will be included in the 2014 Digital AAIA Aftermarket Factbook,
to be released next week.