Auto Parts Stores in the US Industry Market Research Report Now Available from ...
18.05.12
The Auto Parts Stores industry has been turbocharged during the past five years. Revenue is expected to grow at an average annual rate of 1.1% to $40.4 billion in the five years to 2012, although dropping 3.5% in 2012. The industry is a resilient spot in the automotive sector, which had two horrific years in 2008 and 2009, says IBISWorld industry analyst Radia Amari. “While this needs-based industry has a dedicated do-it-yourself (DIY) customer base, the number of consumers who would rather go to an auto mechanic to have their vehicles fixed fluctuates with economic cycles,” Amari said. For example, a drop in disposable income during the recession pushed more consumers to fix vehicle problems themselves, resulting in a slight growth in this industry. Weak labor and credit markets depressed new vehicle sales, and the increasing average length of vehicle ownership compounded this trend in 2009, which continued in 2010. As consumers put off buying new cars and average vehicle ages rose, the need for repairs grew.
Source: Midland Daily News