Overheard: Aftermarket Bounceback - aftermarketNews

Overheard: Aftermarket Bounceback

This chart suggests the automotive aftermarket experienced a V-shaped recovery in May and June.

This “Data Did You Know” item comes from Babcox Media Audience Insights Manager Bruce Kratofil

The impact of the pandemic and economic lockdown on the automotive aftermarket is shown in this chart, which tracks the retail sales for auto parts, accessories and tire stores. February saw a 2.4% drop in sales, compared to January. As the full effect of the lockdown hit in March, sales dropped another 9.1%, and continued with a 5.5% drop in April. However, it didn’t take long for sales to recover.

According to the U.S. Census Bureau’s Retail Sales Report, May sales increased by 23.1%, and there was an additional 6% gain in June. (There is about a six-week lag, so the July sales number will come out in mid-September.) The drop in sales during the lockdown have been erased, and sales are higher than they were before the lockdown. In fact, June 2020 sales are 10% higher than they were in June 2019.

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