Automotive Aftermarket Industry Grows in 2014 - NPD.com

Aging Vehicles & Premium Value Drive Growth for Automotive Aftermarket Industry in 2014

Retail Sales Growth Likely to Continue Through 2015, NPD Group Reports

Port Washington, NY, February 11, 2015 – Aging vehicle maintenance and repairs, and consumer preferences for premium and innovative products were factors that fueled the automotive aftermarket industry’s 2.5 percent dollar growth in 2014 (52 weeks ending Jan. 3, 2015), according to global information company The NPD Group.

In the U.S., there are more vehicles aged 15 years and older on the roads today than there were five years ago, which runs parallel with the fact that consumers are more willing to spend more on premium, high-quality products that will keep their cars healthy and running in the long term.

 


“Determining how to introduce or market products that fall into these trends can help auto industry retailers grow their business in 2015,” said David Portalatin, automotive aftermarket industry analyst, The NPD Group. “Consumers are increasingly choosing to hold onto their cars or make used car purchases, investments leading to a more quality-oriented consumer when it comes to buying automotive products. For them, value is more than just price; value is, for example, products that increase gas mileage, improve engine performance, enhance their car’s appearance, and are environmentally friendly. It’s important for retailers to understand such car maintenance and longevity boosting behaviors, and act on them.”

According to The NPD Group’s Consumer Outlook Survey, nearly 60 percent of respondents drive a car that is eight years or older, and the majority of today’s older car owners plan to keep their vehicle for more than four years. While expected 2015 spending on vehicle purchases and repairs is lower than 2014, the sentiment for cutting back on car care is not as strong.

“Quality differentiation is especially important to consumers when it comes to automotive categories, and this will continue to resonate with them and positively affect the retail industry this year. I expect to see retail sales on the plus side for year-end 2015,” added Portalatin.

Source: The NPD Group, Inc. / Retail Tracking Service


Related Press Releases

March 5, 2018

Steve Flavin Rejoins The NPD Group’s Automotive Aftermarket Practice as President

February 1, 2018

Macro Trends, Mother Nature, and Other Factors Shake the U.S. Automotive Aftermarket Industry in 2017

January 3, 2018

The NPD Group Names Nathan Shipley as Executive Director for U.S. Automotive Aftermarket Practice

August 7, 2017

U.S. Automotive Aftermarket Sees Moderate Mid-Year Sales Growth, Coinciding with the Current Miles Driven Trend


Press Contact

Marissa Guyduy
(516) 625 2203
Marissa.Guyduy@npd.com

@npdstyle@npd_entertain@npd_sports

The NPD Group, Inc.
900 West Shore Road
Port Washington, NY 11050

Want more?

Complete this form to hear from NPD.

Newsletter

Subscribe and get key market trends and insights relevant to your industry each month.

We will not sell your information. View our privacy policy.

Follow Us

© The NPD Group, Inc.