![]() In research conducted by the NPD Group, key trends in the auto care market were evaluated. Parts are being sold online, service is being sold online. The aftermarket world is going online, and the marketplace is changing.That’s a good opportunity for profitable businesses on the service/seller-side. There’s a trend toward large franchise auto repair businesses, which have smaller shops rolling up into them.75% of aftermarket auto repair is performed by independent auto repair shops, while 25% of the business lives with dealerships.The average length of vehicle ownership for new and used vehicles has increased 60% in the last ten years.vehicle fleet has increased 17% in the last ten years. That’s up from 26 million in 2002, according to IHS.” Trends and Statistics: Meanwhile, the number of vehicles that are 16 to 24 years old is 44 million. Those are vehicles made in 1990 or earlier. According to a 2015 article by USA Today, “The number of vehicles on the road that are at least 25 years old is about 14 million. Older vehicles are simply lasting longer. Auto makers sold 17.5 million cars and light trucks, a 5.7% over the previous year.Īlthough Americans may be buying newer vehicles, don’t let these numbers fool you into thinking the aftermarket is stagnant or declining. However, while cars on the road may be aging, consumers are continuing to purchase new vehicles. is a record-high 11.5 years old, according to a new IHS Automotive survey. This rising demand for aftermarket parts and services is spurring new growth and revenue opportunities for a wide range of businesses operating in the automotive aftermarket industry. Today’s consumers are keeping their vehicles longer and are more aware of the importance of preventive maintenance and scheduled servicing to maximize the lifetime value of their vehicles. Unit Price: Enter the unit price for the purchased good(s).The global automotive aftermarket industry is expected to reach $722.8 billion by 2020.Total: Check that the total amount for all purchased items – including price, line-item total(s), subtotal, discounts (if applicable), tax rate, and shipping/handling costs – are accurate.Tax Rate: Enter the tax rate for the purchase (e.g., state sales tax).Subtotal: Check that the subtotal for the items is correct.Shipping/Handling: Enter the shipping and handling rates.Salesperson: Enter the name of the salesperson who conducted the sale. ![]()
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