The Auto Care Association’s recently released Digital Auto Care Factbook 2015 and the Digital Auto Care Factbook & Lang Annual 2015 feature an extended Industry Forecast through 2017 provided by IHS Automotive, driven by Polk. With the very positive economic view for the United States, the auto care industry is expected to continue its participation in this growth cycle.
According to the Industry Forecast, market forces driving the auto care industry include:
* The long-term economic view for the United States is very positive, as the economy is expected to move beyond the protracted recovery into a more stable growth period.
* While the first half of 2014 is likely to remain similar to 2013 – slow employment growth and restrained consumer spending – things should accelerate in the second half of the year.
* The unemployment rate should fall below 6 percent during 2015 and as a result, consumer spending is expected to continue to rise and vehicle miles traveled to pick up.
* With both the housing market and stock markets expected to remain strong, consumer sentiment and confidence are predicted to continue their upward trend.
* While this growth will certainly translate into benefits for new car sales, the aftermarket should see gradually strengthening improvement during the 2012 to 2017 forecast period.
The forecast is the product of the Auto Care Association and the Automotive Aftermarket Suppliers Association (AASA) Channel Forecast Model and is one of the new value-added content highlights in this year’s Digital Auto Care Factbook and Digital Auto Care Factbook & Lang Annual.
Auto Care Association members received a complimentary copy of the Digital Auto Care Factbook 2015 as a member benefit in May, along with three guest passes. While members can purchase additional copies at $200, the non-member price is $500. The Digital Auto Care Factbook & Lang Annual 2015 is also available for $650 to Auto Care Association members and $1,300 for non-members. To order any of these digital publications, visit www.autocare.org/market-intelligence/ and download the order form or contact member services at 301-654-6664.