The latest edition of the Northwood University Monthly Economic Outlook released by Northwood University examines the U.S. aftermarket’s outlook for 2015.
According to the university, the motor vehicle aftermarket stood out as a winning segment, delivering healthy profits, high employment rates and economy-boosting direct or indirect service for more than 185 million vehicles in the U.S. during 2014.
Northwood University Monthly Economic Outlook includes excerpts from a presentation that Timothy G. Nash, vice president for Strategic and Corporate Alliances and the Fry Endowed Professor in Free Market Economics at Northwood University, delivered at the 2014 AAPEX and SEMA annual meeting.
“In 2014, the industry added an estimated $360 billion to U.S. gross domestic product,” he said. “If the U.S. motor vehicle aftermarket were a free, independent country, it would be the 32nd largest economy in the world, slightly larger than Hong Kong. My crystal ball sees a bright 2015 for the U.S. motor vehicle aftermarket.”
For an in-depth look at the Northwood University Monthly Economic Outlook, including job growth and labor statistics, click here.