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Aftermarket Sales Increase Despite Sluggish EconomyAftermarket Sales Increase Despite Sluggish Economy
Despite 2002's sluggish economy, automotive aftermarket sales in the do-it-for-me (DIFM) and do-it-yourself (DIY) sides of the industry, both continued to increase, according to the Automotive Aftermarket Industry Assn.'s 2003/2004 Aftermarket Factbook. It reports that the DIFM market grossed about $126.5 billion in 2002, growing 4.9% since 2001. The DIY market grossed about $32.6 billion in the same
October 1, 2003
1 Min Read
Despite 2002's sluggish economy, automotive aftermarket sales in the do-it-for-me (DIFM) and do-it-yourself (DIY) sides of the industry, both continued to increase, according to the Automotive Aftermarket Industry Assn.'s 2003/2004 Aftermarket Factbook.
It reports that the DIFM market grossed about $126.5 billion in 2002, growing 4.9% since 2001. The DIY market grossed about $32.6 billion in the same year. That was a 4.4% increase over 2001 sales.
Tire sales accounted for $16.5 billion of sales. Total aftermarket sales were about $175.6 billion in 2002, a 4.6 percent increase from the previous year.
Other factoids from the Factbook:
The number of aftermarket industry mergers and acquisitions remained relatively unchanged from the previous year.
Collision repair sales increased 5.6% to $32.4 billion.
U.S. motor vehicle parts and accessories exports increased 0.5% to $48.1 billion.
Medium and heavy-duty aftermarket product sales increased by 1% to $61.5 billion.
The sale of many automotive-cleaning products increased significantly in 2002. Leather cleaners experienced a 30% rise in sales; glass cleaner sales rose 12.4%.
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