We reached out to a number of leaders and executives from the supply chain to jobber stores and asked them to highlight how business will change in the year ahead, what the biggest challenge for the industry is moving forward and what they see as the top opportunity in 2022. We will present their answers in alphabetical order over the coming weeks…
Bill Hanvey, President, CEO | Auto Care Association
The agility and adaptability of the automotive aftermarket continue to inspire and reassure. As supply chain issues continue, aftermarket companies anticipate raising their prices, if not already. They’re also making significant investments in inventory to support customer demands.
Businesses will need to adjust pay scales, benefits and understand what their employees need to increase retention. Businesses are diversifying their supplier base and exploring new vertical integrations that are out of the box to reduce reliance on external factors.
For the supply and distribution side, having the guts to think outside the box to find solutions can be a challenge for many. Supply chain logistics today present themselves as a puzzle — but there are options like diversification, vertical integration, new partnerships, acquisitions and mergers.
Apathy is our greatest threat. Business is good. We are growing despite a pandemic. Parts supply can’t meet demand. What’s not to like? Well, if you look at the threats our industry is facing from both a regulatory and technological standpoint, we need to all become more activated in preserving our future.
2022 presents numerous growth opportunities. Miles driven are back up. Adverse weather events create opportunities for maintenance and repair. The average vehicle age increased to over 12 years. The longer consumers keep their cars, the more maintenance they need. Couple that with the supply chain challenges and chip shortages for new vehicles and the aftermarket is in prime position to experience continued growth. Delayed maintenance grew 20 per cent in 2020. Not to mention the explosion of e-commerce in our industry. Take your pick.