More than $2.1 billion in vehicle maintenance goes unperformed each year, says the latest study from the Automotive Industries Association of Canada.
While steady growth and opportunity define the automotive aftermarket in Canada, according to the 2007 Outlook Study the biggest opportunity lies in capturing some or all of the under-performed maintenance that exists.
DesRosiers Consultants determined that in 2006, 47.8 million scheduled maintenance jobs were not completed on Canadian vehicles, across seven categories of maintenance.
Still, the study shows that in the period spanning from 2001 to 2006, the average annual growth rate was 3.1%, with the average annual cost of repair forecasted to jump from $1,044 in 2006 to $1,141 in 2010. Prime aftermarket vehicles that are six to 12 years old are expected to reach a decade high of 43% of the fleet.
“The study shows some very encouraging increases in market potential for repairs and maintenance in the coming years. It indicates many areas of opportunity within our industry and offers some solid insight into the future of our target markets,” says Marc Brazeau, AIA president.
The study was completed by DesRosiers Consultants Inc. and looks at Canadian automotive-related markets. The study, free to association members, can be downloaded at www.aiacanada.com.
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