Market Insights with Mike: Recent Trends in Vehicle Miles Driven During COVID-19
By Camille Sheehan
BETHESDA, Md. – April 7, 2020 – “Market Insights with Mike” is a new series presented by the Auto Care Association’s Director of Market Intelligence, Mike Chung, that is dedicated to analyzing market-influencing trends as they happen and their potential effects on your business and the auto care industry.
The Auto Care Association is keeping a close eye on these statistics and other market trends through its TrendLens™ platform and is interested in hearing how industry businesses are navigating the current state of affairs. Aftermarket industry businesses can help by taking a three-minute survey on the impact. Stay tuned for periodic updates on these topics and the association will share best practices and perspectives from its members to keep businesses informed and to facilitate discussions. Look for results from the survey as well as a host of interactive industry and economic indicators coming soon on TrendLens™.
With millions of Americans working from home due to office and school closures, many in the industry are wondering about vehicle miles travelled (VMT) statistics – and rightly so! VMT statistics are correlated with the health of the aftermarket industry, and this makes intuitive sense – the more miles driven, the more that maintenance, repair, and replacement of vehicles will be required.
To read Mike’s full insights on VMT, click here.