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Exciting News for Repair Shops from Lang Marketing!


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Here is an excerpt from a report from Lang Marketing:  Read and enjoy! 

Six Major Takeaways

  • Lang Marketing expects that new car and light truck volume will remain in low gear from 2020 through 2023 compared to the previous four years (2016 through 2019).
  •  Lower new vehicle annual volume will trigger five significant aftermarket changes that will boost the volume of aftermarket products from 2022 through 2030.
  • By increasing used vehicle prices and shifting miles to older vehicles, lower new vehicle sales will boost aftermarket product volume through 2030.
  • An increase in the average age of vehicles and more older vehicles on the road, both resulting from lower new vehicle sales, will provide a tailwind for aftermarket product growth.
  • Although there will be fewer vehicles in the repair-age sweet-spot between 2026 and 2030, this will create a mileage shift to older vehicles and an increase in the upper age boundary of the repair-age sweet-spot, which will be positive for aftermarket product growth
  • Lower new vehicle sales will slow the growth of Electric Vehicles on the road, increasing the use of ICE vehicles and pumping up their aftermarket product volume.

Source: 

Lang Marketing Resources, Automotive Aftermarket Consulting, Research and Analysis

 

 

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      Not to bring politics into this conversation, and whether we like it or not, the Electric Vehicle push is on. And in a big way. 
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      Premium Member Content 

      This content is hidden to guests, one of the benefits of a paid membership. Please login or register to view this content.

    • By Joe Marconi
      Shrinking Repair Outlet Population
      "Vehicle maintenance is becoming less convenient for Americans. There are fewer outlets repairing cars and light trucks, despite the increasing population and complexity of cars and light trucks on U.S. roads. The number of repair (DIFM) outlets fell by nearly 14,000 over the past five years (2016 to 2021), and future annual reductions are likely."
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      14,000 Fewer Light Vehicle Repair Outlets
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      Outlet Groups Growing in Number
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      Outlet Groups Declining in Number
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      Service Stations & Garages
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      The number and complexity of cars and light trucks in operation have continued to increase. Nevertheless, the population of repair outlets handling cars and light trucks fell by approximately 14,000 over the past five years (2016 to 2021).   Despite the loss of car and light truck repair outlets between 2016 and 2021, three of the seven major groups of DIFM outlets expanded their populations: Repair Specialists, Foreign Specialists, and Vehicle Dealers.   The number of Repair Specialists climbed by approximately 350 between 2016 and 2021, and approximately 700 Foreign Specialists locations were added. Vehicle Dealers posted a modest increase in number, reversing a trend of vanishing locations that began during the Great Recession of 2008.   Service Stations & Garages suffered the most significant outlet loss from 2016 to 2021. The populations of Tire Stores, Discount Stores/Mass Merchandisers with bays, and Auto Parts Stores with bays also were battered during these years.   The growing number and complexity of cars and light trucks in operation provide challenges and opportunities for the shrinking population of light vehicle repair outlets across the country. They must become more technically capable and productive to keep pace with the growing volume and complexity of vehicle repairs.   See the all-new 2023 Lang Aftermarket Annual for the only ten-year analysis of the population changes sweeping across the seven major types of auto repair outlets in the U.S.
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