Aftermarket growth between 2014 and 2024 was shaped by two pillars: the number of vehicles in operation (VIO) and annual product use per vehicle. Before 2020, both factors drove expansion. However, the COVID-19 pandemic caused an unprecedented 8% drop in product use per vehicle, with domestic cars suffering the most significant losses.

The recovery since 2021 has been historic but lopsided. While VIO growth remained stagnant (under 0.5%), the market volume surged by over $21 billion. This growth was fueled by a record 4.2% annual increase in product use per vehicle. Light trucks and foreign nameplates emerged as the clear winners; foreign brands alone accounted for nearly 90% of the increase in use per vehicle. This shift is attributed to their concentration in “sweet-spot” age categories and generally higher part prices. Lang Marketing predicts these disparities between vehicle types and origins will continue to define the aftermarket’s foreseeable future.

Text credit : Lang Marketing

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