Americans will drive more than 4.5 trillion kilometres per year by 2006, meaning continued demand for aftermarket automotive parts, according to the 2004 Automotive Aftermarket Status Report just released by the Automotive Aftermarket Suppliers Association (AASA).
The report notes that total miles driven reached 4.6 trillion km per year in 2003. AASA forecasts a growth rate of 2 percent for this year as the rate slows due to high fuel prices.
"In the 1970s, the availability of gas, not its price, led to a decline in miles driven," said Frank Hampshire, AASA director of market research. "Vehicle usage is at the root of most aftermarket demand and vehicle replacement demand," he said. "Long-term trends bode well for continued growth in the automotive aftermarket and the entire automotive industry."
Status Report has been published by AASA’s parent association, the Motor & Equipment Manufacturers Association (MEMA), since 1998 to meet the need for a single source of information and analysis of future trends in the automotive aftermarket. The publication also includes a membership directory of AASA, MEMA’s aftermarket market segment association.
"AASA has continued to produce this practical document that provides a guide for planning and policy decisions at all levels of the industry," Hampshire said. "In today’s fast-changing automotive sector, a long-term view is a necessity. Status Report provides an overview of the current industry situation and outlines some of the expectations and future trends within the automotive sector," he said.
Status Report illustrates its detailed analysis with numerous charts and graphs.
MEMA member companies can order additional copies Status Report for $125 U.S. Non-members may order the report for $500 U.S.. Orders may be placed by calling 919-549-4800 or e-mailing firstname.lastname@example.org.
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