Taking the monthly Industry Indicators Report (IIR) to a new level, the Auto Care Association and Northwood University partnered to produce the Business Confidence Index (BCI) and Economic Confidence Index (ECI). Starting in 2011, the purpose of this survey is to enhance Auto Care Association member understanding of the auto care industry by recording their thoughts on the current and future course of the industry.
Results are calculated and reported in the weekly member newsletter, Auto Care Insider Weekly and in Auto Care Insider Magazine.
frequently asked questions
The Business Confidence Index (BCI) and Economic Confidence Index (ECI) are tracking indicators of sentiment across the automotive aftermarket. Since 2011, Auto Care Association has collected member sentiment regarding the economic prospects for their business (BCI) and the overall economy (ECI).
Auto Care calculates an index for each month based on a weighted average of the responses.
These indices are a steady barometer for monitoring the health of the industry – the data quantitatively represent the challenges that the industry faces, currently and into the foreseeable future. That said, the indicators don’t necessarily “predict” the performance of a company within the industry – as we have all seen, the COVID-19 pandemic has instilled a sense of urgency for all companies to adapt to fluid market conditions, changing consumer behavior, and emerging regulations.
BCI and ECI maintain an edge over “traditional” economic indicators like consumer confidence since we source original data from our industry’s participants – Auto Care Association members.