AASA, Auto Care Association Release 2022 Joint Trends Reports

AASA, Auto Care Association Release 2022 Joint Trends Reports

The reports provide forecasts and analysis of trends driving change in electrification and e-commerce.

Together, the Automotive Aftermarket Suppliers Association (AASA) and the Auto Care Association, commissioned the 2022 Joint E-Commerce Trends and Outlook Forecast and the 2022 Joint EV Trends and Outlook Forecast to provide the auto care industry with the insights needed to navigate the rapidly evolving industry. Released at AAPEX, the reports are a part of industry collaboration designed to inform and support the auto care industry as it navigates change.  

In 2022, there was an estimated $37.6 billion in automotive aftermarket sales occurring online; the associations predict that e-commerce adoption will continue to grow by more than 8% each year through 2025, accounting for a total of $47.4 billion in online sales. The 2022 Joint E-commerce Trends and Outlook Forecast also contains analysis detailing consumer trends driving e-commerce growth; how to reach the online aftermarket consumer; a lens into the medium- and heavy-duty space; and more. 

“The growth that we’ve seen in 2022 in e-commerce sales has been staggering,” said Bill Hanvey, president and CEO, Auto Care Association. “If you’re an investor, that’s attractive performance, even in a high-inflation period. This report highlights the continued growth and transformation of our industry and serves as a guidepost for our member as they plan for the future. Thank you to our industry partners at AASA for your collaboration on this valuable resource.” 

The 2022 Joint EV Trends and Outlook Forecast shows that the battery electric vehicles (BEVs) share of vehicles in operation (VIO) is growing faster than expected and the purchase price of BEVs is expected to reach parity with internal combustion engine (ICE) vehicles as soon as 2024. By 2030, as battery prices continue to drop, the total cost of ownership (TCO) for BEVs is expected to be more consumer friendly relative to ICE vehicles and among parts sales in the aftermarket. There is continued evidence supporting the forecast that electrification and ADAS components will be the largest drivers of incremental parts sales growth by 2030.  

“Our new projections show EVs reaching approximately 30% of new car sales in the U.S. by 2030 – a number that is expected to increase rapidly thereafter,” commented Paul McCarthy, president and CEO of AASA. “Electrified components will become a new source of growth, the largest driver of incremental parts sales growth from 2030. It’s essential for suppliers to understand the opportunities that will come with our electrified future, and we think the entrepreneurial aftermarket is responding. We are again thankful to have the opportunity to partner with the Auto Care Association to provide this information to the industry.” 

Research and analysis in the 2022 Joint E-Commerce Trends and Outlook Forecast were contributed by Jefferies, SPS Commerce, Hedges & Company, Channel Advisor, Bolt, MacKay & Company, IMR INC. | AUTOMOTIVERESEARCH.COM, and S&P Global Mobility. 

Research and analysis in the 2022 Joint EV Trends and Outlook Forecast were contributed by PwC Strategy&, IMR INC. | AUTOMOTIVERESEARCH.COM, YCP Solidiance, and S&P Global Mobility.  

AASA and Auto Care Association members receive complimentary access to these reports as a membership benefit. These reports may be purchased by non-members for $1,500 each and accessed instantly on the AASA website at aftermarketsuppliers.org/resource or on the Auto Care Digital Hub at digital.autocare.org

You May Also Like

MEMA Partners on Enhanced Aftermarket Logistics Solutions 

The MEMA, eShipping Partner Program offers MEMA member companies a robust transportation management platform.

MEMA, The Vehicle Suppliers Association, announced its partnership with eShipping, a nationwide distribution chain management company headquartered in Kansas City, Missouri. The newly launched MEMA & eShipping Partner Program aims to enhance logistics solutions for the automotive aftermarket industry.

The MEMA & eShipping Partner Program offers a robust transportation management platform, including Less Than Truckload, Full Truckload, Small Parcel, International, Specialty Modes, Warehousing, Distribution and TMS Technology.

Shaw Assumes Leadership of MEMA Original Equipment Suppliers

Collin Shaw succeeds Julie Fream who served 10 years in the position.

Collin Shaw promoted at MEMA
MEMA Aftermarket Suppliers Forms New CEO Council

The council brings together executives from the automotive, commercial vehicle and remanufacturing sectors.

DOJ, FTC Support MEMA Aftermarket Suppliers’ Petition

The petition expands consumer access to vehicle operational, diagnostic and telematics data.

YANG Holds Regional Meetup with Leadership 2.0 Session

The event took place March 11 at the Hilton Garden Inn Charlotte/SouthPark in Charlotte, North Carolina.

YANG Leadership 2.0

Other Posts

What to Expect at AAPEX 2024

The 2024 AAPEX Show will take place November 5-7 in Las Vegas.

AAPEX
2024 Auto Care Connect Conference Keynote Speakers Announced

This year’s guest speakers will be Armida Ascano, Dr. Peter Fader and Lt. Col. Dan Rooney.

Auto Care Connect
Auto Care Voices Support for FTC, DOJ Comments on Right to Repair

The agencies asserted that renewing and expanding repair-related exemptions would promote competition in markets for replacement parts, repair and maintenance services.

bill hanvey right to repair
MEMA Aftermarket Suppliers’ MiX Certifications Announced

DRiV’s Elisse Richardson and Gates Corporation’s Bryce Neumeier were recognized for their commitment to excellence in their respective roles.

MEMA Aftermarket Suppliers’ MiX Certifications Announced