Wonder

Key Drivers of the Automotive Aftersales Market

Delivered March 4, 2020. Contributor: Maria R.

Goals

The goal is to understand the aftersales that contribute to the auto business and what auto aftercare service is the biggest contributor to the automotive industry. 

Early Findings

Automotive Aftersales ContributionIn 2019, the automotive aftermarket size was valued at 378.4 billion USD globally. 
A typical car on the road in the United States is currently at 11.5 years. This does not mean that consumers are not purchasing vehicles. In 2015, U.S car sales hit a record high selling 5.7% more cars than in the previous years. 
The two biggest aftermarket revenue makers are "automotive replacement part suppliers and service enablers." 
 75% of aftermarket auto repairs are performed by independent auto shops, while only 25%  of the vechiles are taken to delearships. 
In 2019 Toyota led the auto industry by 10.24%, Volkswagen by 7.59%, Ford by 5.59%, Honda by 5.46% and Nissan by 5.15%.

Proposed next steps:

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Our initial research found that there is a lot of information from 2019. This may be primarily due to still being 2020 is still early in the year. A lot of the information found was based in the United States, not globally. We were unable to find a breakdown of the latest market share. We propose continuing the research with the following: (1) determine the latest market share by each car brand. (2) Finding the average spend by each customer.

Alternatively, we could provide more paid articles available online. Automotive Aftermarket Size 2019: Regional Demand, Global Competitive Industry Share, Revenue Statistics | Forecast Report 2025