The rate of unperformed and underperformed maintenance in the United States grew to $62 billion in 2010 compared to $54 billion the previous year, according to the recently released “AASA Automotive Aftermarket Status Report 2012,” published annually by the Automotive Aftermarket Suppliers Association (AASA).
“The $8 billion increase came despite a strong general performance of the aftermarket and tied with the second-highest level ever recorded by AASA, which was reached during the recovery from the last economic downturn,” said Steve Handschuh, president and COO of AASA.
“This $62 billion ‘Untapped Market’ represents a significant 26 percent of total aftermarket potential," added Paul McCarthy, AASA vice president, industry analysis, planning and member services. "If consumers performed all of the maintenance recommended to keep their vehicles safe, reliable and running efficiently, the aftermarket could have totaled $245 billion.”
Tight household budgets and high unemployment caused many vehicle owners to put off maintenance and repairs unless it was unavoidable, McCarthy noted.
“Going forward, the weak economic recovery and continued high unemployment levels may continue to keep the amount of maintenance motorists postpone at a high level,” he said.
The AASA “Automotive Aftermarket Status Report” provides 15 chapters of key aftermarket industry data, including:
• Latest figures on unperformed maintenance
• Aftermarket size and growth
• Size and growth of key subsectors:
• Maintenance
• Engine
• Undercar
• Cooling / A/C
• Vehicle population and usage
• Outlet Channel market share
• DIY market share trends
AASA members can download the report at no charge at the Automotive Aftermarket Status Report web page.
Also available at the site are AASA’s two other recent research publications:
• 2012 World Motor Vehicle Market Report – produced annually by the AASA Overseas Automotive Council, the World Motor Vehicle Market Report is one of the industry’s oldest and most respected global statistical analyses and features:
• Vehicle production and assembly
• Vehicle census summary
• U.S. Motor Vehicle parts trade worldwide
• World Motor Vehicle Markets
• 2012 Replacement Rates of U.S. Automotive Parts – the handy table showing the percentage of private vehicles receiving specified maintenance, which can be used to calculate product durability, market size estimates and service job variables.
Non-members can purchase electronic versions of all three publications for $500. An order form can be downloaded at the AASA Automotive Aftermarket Status Report web page here.