WASHINGTONThe U.S. automotive aftermarket will grow about 3.6 percent annually through 2018, according to the 2015 Joint Channel Forecast Model issued by the Auto Care Association (ACA) and the Automotive Aftermarket Suppliers Association (AASA).
Aftermarket sales will reach $284.3 billion in 2018, compared with $246.7 billion in 2014, the groups' forecast said, with rising prices accounting for roughly 80 percent of the growth.
ACA President and CEO Kathleen Schmatz noted the forecast model shows the aftermarket can expect steady growth despite moderating gas prices and strong new vehicle sales. The average age of vehicles, now up to 11.5 years, is the oldest ever, she said, and the age mix of vehicles continues to favor older vehicles, creating a robust sweet spot for service and repair.
The report shows the groups expect the DIFM (do it for me)/DIY (do it yourself) ratio to stay stable at about 80/20 through the coming years.
IHS Automotive, the economic and market information firm, conducted the forecast for the ACA and AASA based on the U.S. Census Bureau's Economic Census, IHS and Polk data, and proprietary economic and forecasting models from IHS Automotive.