AASA Sees Big Boost to Aftermarket in 2006

(Akron/Tire Review) The Automotive Aftermarket Suppliers Association (AASA) expects the automotive aftermarket to grow 4.2% in 2006 to $209 billion, according to new research in the soon-to-be-released 2006-2007 AASA Automotive Aftermarket Status Report.

In 2005, according to AASA, the aftermarket – labor and parts combined – broke the $200 billion mark for the first time ever, ending the year at $200.41 billion, up 5.2% from 2004. Adding in the heavy-duty aftermarket – Class 6-8 vehicles – the total US. aftermarket hit $255 billion in 2005, up 5.1% from 2004.

AASA estimates that the light vehicle aftermarket will finish 2006 at nearly $209 billion. Growth will continue at a somewhat slower pace and reach $239 billion by the end of the decade.

Vehicles more than 10 years old account for the largest share of the dollars spent and provided the largest boost to 2005 overall aftermarket value, AASA said. This category, along with the 6- to 10-year-old vehicle group, is expected to continue to expand at a stable pace, while new to 5-year-old vehicles are projected to decline in aftermarket volume through to 2010.