RESEARCH TRIANGLE PARK, NC — According to the 2004 Automotive Aftermarket Status Report just released by the Automotive Aftermarket Suppliers Association (AASA), Americans will drive three trillion miles per year by 2006.
What does this mean for the aftermarket? A continued demand for aftermarket parts.
Total miles driven reached 2.88 trillion miles per year in 2003, according to the report. 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.”
First started in 1998, the Status Report has been published annually by AASA’s parent association, the Motor & Equipment Manufacturers Association (MEMA), and includes data, charts and graphs. This year, the publication also includes a membership directory of AASA.
“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.
MEMA member companies can order additional copies Status Report for $125. Non-members may order the report for $500. Orders may be placed by calling 919-549-4800 or e-mailing [email protected]
For more information about MEMA and its market segments, go to: www.mema.org
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