BETHESDA, Md. (July 3, 2003) — U.S. automotive aftermarket sales grew 3.7 percent in 2002 to $237.1 billion—a growth rate that's 1.3 percentage points higher than the country's gross domestic product, the Automotive Aftermarket Industry Association (AAIA) said.
“Despite declining consumer confidence, economic uncertainty and high unemployment in 2002, the automotive aftermarket outpaced the overall U.S. economy, which experienced a 2.4-percent increase in the gross domestic product,” said Alfred Jasper, president and CEO of Bethesda-based AAIA.
Also in 2002, vehicle service repair—which accounted for two-thirds of total automotive aftermarket sales—increased 4.9 percent to $126.5 billion. Collision repair sales increased 5.6 percent to $32.4 billion, and sales of U.S. motor vehicle parts and accessories exports increased 0.5 percent to $48.1 billion, AAIA said.
The statistics are included in the association's 2003/2004 Aftermarket Factbook, which was just published. The book costs $95 for association members and $195 for non-members.