AAIA is rapidly growing over the years and accomplished some complimentary goals that improve the standard of the aftermarket industry. In 2015, industry has noted remarkable increase of 17% (5 billion) in an online auto parts sales. An industry expert has predicted that the trend will continue with an approximate annual growth rate of between 14% and 18% in online sales each year.
Seeing the consistent growth of the auto care industry, an expert has forecasted that online sales would reach $6.5 billion in 2016.
Mutual Bond between Brown & Joseph, Ltd and AAIA
In 2012, leading National B2B Debt Collections and Account Receivable Management Company has become an official member of the Automotive Aftermarket Industry Association. It mainly focuses on debt collections and debt recovery for automotive distributors of AWDA (Automotive Warehouse Distributors Association) segment.With a fine track record of debt collecting and recovery Brown & Joseph, Ltd has become a reliable collections partner for AAIA and AWDA member companies. They claim that our mutual bond with the associations result in new clients coming from manufacturing, distributing and services fields.
Aftermarket Auto Industry Overview
In 2008 and 2010, great recession has stirred the economic stability of USA. It badly impacts manufacturing and selling of new cars. However, aftermarket industry has evolved with greater pace during this economic uncertainty.With the decrease in new car sales, people are tend to live with their old car longer which require both regular and emergency service, replacement parts, paint, cleaning, stereo system installations and a whole lot more. It makes people to think about the ever growing automotive aftermarket industry.
Of course, increase in new car sales has been noted after economic stability but aftermarket industry remains in demand.
According to the Autocare Association’s forecast, US automotive aftermarket will be worth $273.4 billion in 2017 – an increase of almost $35 billion in just four years. These amazing numbers put the aftermarket between 1.5 and 2% of the US Gross Domestic Product.
Together with the boosting of USA economy, the industry has also contributed an important role in skill development by employing an estimated 4.2 million people.
In 2015, IHS has recorded the highest number of dramatic increase of 42% in new vehicle registrations in compare to scrap page vehicles. Here comes, aftermarket industry keeping vehicles running on the road, keeping them clean and making them your own.