Auto Service World
News   July 3, 2019   by Renee Montague

Auto Care Association releases latest Factbook

The value of auto parts, accessories, and auto repair services sold in the U.S. is expected to reach $448 billion by 2022.

That’s up $43 billion from the current $405 billion.

The rationale for the optimistic growth is detailed in the latest edition of the U.S.-based Auto Care Association’s annual Facebook – a statistical portrait of the automotive aftermarket.

“Despite the uncertainty felt across our industry and the markets over the past year due to tariffs and trade, this edition of the Auto Care Factbook reinforces positive growth,” said Bill Hanvey, president and CEO of the Auto Care Association.

He pointed to growing consumer confidence, increased discretionary spending, and higher hourly wages as positive factors, not to mention the creation of more than 41,500 industry jobs last year.

“Our association is committed to delivering resources and data to our members,” he said. “The Factbook is the bedrock of that information, and we continue to evolve our resources to best serve our members’ needs.”

The 29th edition of the Auto Care Factbook is available digitally a wealth of industry information, including a synopsis of the Canadian and Mexican aftermarkets. Other data includes:

  • Key economic indicators
  • Trends on supply, demand and CAGRs for technician employment
  • Consumer profiles for DIY – DIFM
  • Global automotive aftermarket estimates, reviews, and dynamics
  • Total vehicle registrations
  • Hybrid vehicle summary and operating costs
  • New automotive chemicals and fluids, delayed maintenance, market potential and time to market