View Sidebar

A Brief View of the Automotive Aftermarket Industry

February 22, 2019 1:57 pm0 comments

Since the old days of Henry Ford, the automotive industry has only grown. Like the home computer, innovations have been able to bring the automotive vehicles to the average person. Also like the home computer, came the opportunity to customize your own automotive vehicle with various performance parts and see the rise of car enthusiasts of varying skill. The option to customize your vehicle has had a positive impact on the aftermarket industry.

If you are looking for something specific like Hyundai performance parts or Subaru upgrades or Mazda replacement parts, or Acura performance parts, regardless of your style and make, look no further than the automotive aftermarket. The global automotive aftermarket industry is a lucrative business, expecting to reach a new height of $722.8 billion by 2020. In fact, the U.S. alone raked in $287 billion in the automotive aftermarket industry during the year of 2017. That growth is not expecting to slow with an expected compound growth rate of 3.6% through the year of 2020. This growth comes in various forms, like Hyundai performance parts.

The healthy growth of the aftermarket industry is not unexpected. There are more cars on the road than ever before. In 2017 alone, on a global scale, 79 million cars were sold and left the parking lot of car dealerships. Prolonging the life of your vehicle is a common practice among car enthusiasts. In fact, 14 million vehicles, still on the road, are pushing 25 years of age. That number has risen by a factor of 8 million vehicles since the year of 2002.

The automotive production industry is no slouch either. Worldwide the increase of vehicle production has risen with China leading From 2016 to 2017, there was an increase of worldwide automotive production by a factor of 2.6%. This growth continued in 2017 when the automotive industry worldwide produced 73 million vehicles. Furthermore, estimations are expecting to see worldwide automotive production reach 81 million cars by the end of 2018.

What this shows is just how popular and commonplace, and good for business, it is to customize your vehicle and extend its life. If immersing yourself in the world of grease, metal and leather seats are more your speed, now has never been a better time to do so. Grab yourself a set of tools, pick up of a few choice auto performance parts, or import performance parts, compatible with your car and get to work.

Share This : twittermailby feather

Leave a reply

You must be logged in to post a comment.