The Auto Care Association‘s 32nd edition of the “Auto Care Factbook” is now available on the Auto Care Digital Hub. This year’s factbook report provides more new data, including insight on how the auto care industry has fared following the COVID-19 pandemic, the latest consumer and industry trends, expanded international market performance and more, the association says.
Despite the prolonged effects and supply chain challenges, the automotive aftermarket grew by 14.8% in 2021 – exceeding the previous year’s expectations of 11.5% growth for the year, the association reports. As the economy stabilizes, substantial growth is also expected in 2022 (8.5%), followed by steady and sustainable growth from 2023 to 2025 (3.5% – 5.0%). The automotive aftermarket is now expected to be a $514 billion industry by 2024.
In the Auto Care Factbook report, readers will find:
- Expanded e-commerce coverage, including comparison of return rates for automotive parts vs. other industries, and a deep dive into China’s online-to-offline e-commerce ecosystem;
- Expanded electric and hybrid vehicle statistics, including vehicle mileage, replacement rates, near-term adoption forecasts and OE parts installed on electric and plug-in hybrid electric vehicles;
- Expanded collision industry metrics, including average collision repair costs and stats related to the number of parts, labor-related costs, and origin of replacement parts; also, average costs for the top 50 components in six selected categories and a monthly number of collisions inferred from telematics data.
All Auto Care Association members viewing the “Factbook” will be able to access up-to-date data in the TrendLens interactive data platform. There, members can drill down on data points and filter and overlay them with other data sets to get the full picture of the industry, the association says. Auto Care members can access the “Factbook” for free by logging in.
