Market Insights with Mike

Updated Macroeconomic and Impact Trends

May 7, 2020 – As the industry has watched automotive travel stats, we have been keeping an eye on other economic indicators. It’s hard not to compare current indicators to the Great Recession of 2008. We have learned that the Consumer Confidence Index (CCI) has dropped to 86.9 for April 2020 (the orange line in the chart below; down 34% from 130.7 in February 2020) – its lowest level since 2014, and at a steeper rate than in the 2006-2008 timeframe.

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Pandemic Impact and Outlook on the Auto Care Industry

April 23, 2020 – In the inaugural edition of Market Insights with Mike, Mike Chung, director, market intelligence, Auto Care Association, highlighted trends in vehicle miles driven and launched a survey to learn about the impact of COVID-19 on the aftermarket. In this new piece, Mike highlights the results from the survey. Traffic continues to stay at nearly 50% below their levels in late February. INRIX reports that the drop in vehicular traffic has flattened a bit in recent weeks – passenger travel was on average 48% lower during the week of April 4-10 than the week of Feb. 22-29.

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Recent Trends in Vehicle Miles Driven During COVID-19

April 6, 2020 - 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.  

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