U.S. Automotive Aftermarket Projected to Grow to $327 Billion by 2021

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U.S. Automotive Aftermarket Projected to Grow to $327 Billion by 2021

“The Joint Channel Forecast shows the continued strength of key aftermarket drivers and the impact of the confident consumers, buoyed by a strong job market and lower personal tax rates,” said Bill Long, president and chief operating officer of AASA.

Counterman Staff
By Counterman Staff
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The U.S. automotive aftermarket will grow from sales of $286 billion in 2017 to $327 billion in 2021, according to projections in a new report from the Automotive Aftermarket Suppliers Association (AASA) and the Auto Care Association.

Aftermarket sales will increase at a compound annual growth rate of 3.4 percent through 2021, the associations predict in their “2018 Joint Channel Forecast Model.”

“The Joint Channel Forecast shows the continued strength of key aftermarket drivers and the impact of the confident consumers, buoyed by a strong job market and lower personal tax rates,” said Bill Long, president and chief operating officer of AASA. “It also shows influences driving evolution in the aftermarket: new and emerging technologies, changes in the distribution model and changes in consumers’ expectations for mobility.

“We are an industry facing a lot of change, but we believe we have the people in the independent aftermarket with the leadership, vision and entrepreneurial spirit to enable us to grow and thrive in our pending era of change and opportunity.”

IHS Markit conducts the market sizing and forecast on behalf of AASA and the Auto Care Association. The forecast is based on the U.S. Census Bureau’s Economic Census, IMR and Polk data and IHS Markit’s proprietary economic analysis and forecasting models.

“The sustained growth projected in the forecast is not only a result of key economic upswings, but also technology that is creating opportunities for new products, services and solutions across our market,” said Bill Hanvey, president and chief executive officer of the Auto Care Association. “These new technologies continue to widen the reach and scope of our industry as well as enable opportunities to add to the 4.6 million job powerhouse that we are.”

The Joint Channel Forecast Model is available at the AASA website and in the Auto Care Association’s 2019 Digital Auto Care Factbook, available on the Auto Care Association website.

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Customer Service: How It’s Done

Customer service should be your number one priority, and it all starts with the greeting.

Eric Garbe
By Eric Garbe
Eric Garbe is a graduate of Columbus State Community College with a degree in Automotive Maintenance Technology. He has extensive independent and dealership field experience as a technician and shop owner and is an ASE Certified Master Technician and former Adjunct Automotive Professor. He has been professionally writing automotive technical articles and documents for many years and in his free time enjoys restoring old cars and creating custom interiors and upholstery.
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This is always an important topic to discuss, because I consider excellent customer service one of the most important tools you can have to earn trust, respect and repeat business from the customers that come through your door. Whether that customer is do-it-yourselfer from across town or the professional repair shop across the street, your business depends on a solid relationship.It’s a subject that I am passionate about, and it’s one that many people are losing touch with. Whether you are communicating to someone in person, on the phone or using some type of social media, good customer service and bad can both exist. You can’t afford the latter, so this is the first in a series of topics which can and should be shared from the front of the shop to the back. No matter which role you hold, you represent the shop and yourself. Customer service should be your number one priority.First on the list is the greeting. From the second a customer walks in the door, they need to know you appreciate them coming in and how important they are to your business. First impressions are everything and here’s the correct way to do it each and every time: look them directly in the eye, smile and say hello!Of course, you can say “Good morning” or “Welcome to Joe’s Autocare,” but it should be a formal greeting and the most important thing is that you have smiled, looked them in the eye and recognized that they have walked through the door.You should always retain a formal greeting until you are on a first-name basis with a customer. Only once you have established that level of relationship is it OK to use the less formal greeting of “Hi,” followed by the person’s name.This greeting does more than just indicate respect and appreciation for someone walking through the door. Most likely there are customers both new and old who are in earshot of your conversation. For newer customers, this continues to build rapport and reinforce their positive view of your shop; they see that you demonstrate respect and treat everyone in the same manner. For repeat customers, even ones that have been coming for years, the greeting is important because the way you treat them is the reason they continue to come.And when a long-time customer comes in and you greet them with “Hi [First Name],” this indicates your appreciation for them and that you’re glad to see them as a person, more than just a customer. New customers that witness this will see that your repeat customers are comfortable enough to be on a first-name basis, another indication of the trust they have in you.

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