The Automotive Aftermarket Suppliers Association (AASA) has released results of a recent survey that shows many AASA supplier members believe that the electrification of vehicles will impact their businesses within the next 10 years. Of those expecting an impact, the majority reported that they expect the impact to be negative. This is according to the results of the AASA’s Q3 2017 Supplier Barometer survey.

Each quarter, AASA surveys its supplier members on market outlook, pricing, gross margins, inventories, capacity and more. In addition, the association includes special questions each quarter regarding current industry trends and topics. For Q3 2017, AASA’s Barometer survey included questions about electrified vehicles (EV) to learn how engaged members are with this technology and how it is affecting their product planning.

“Although the majority of AASA Barometer survey respondents are concerned about the impact from electrified vehicles, the majority also report preparations are underway to respond to new market demands,” said Bill Long, AASA president and chief operating officer.

“About one-quarter of those expecting an impact report having the products needed to capture sales as EV takes hold,” added Paul McCarthy, AASA executive vice president. “Nearly 50 percent more report their companies have started or are planning R&D initiatives to take advantage of the opportunities presented by EV.”

“Although it is too soon to say that the age of the electric vehicle is upon us, it is safe to say that suppliers have begun EV preparations,” said Philip Atkins, AASA director, strategic research and planning.

The “AASA Aftermarket Supplier Barometer” is a quarterly survey of AASA full service supplier members on key indicators and market trends. The executive summary of the Q3 2017 Supplier Barometer is available to AASA members; the full survey report is an exclusive AASA member benefit and is available only to member companies that participate in the survey.