PORT WASHINGTON, N.Y. — With a nearly 3-percent increase in average selling prices, revenue in the U.S. automotive aftermarket grew just nearly 1 percent in the first six months of this year, while unit/quart volume declined by 2 percent, according to NPD Group Inc.
This trend differs from 2016 when midway through last year the average retail prices were down, yet dollar sales continued to grow.
NPD said it has found this performance to be correlated with the slowdown in the growth rate of miles driven by consumers in the U.S.
In the 12 months through May 2017, miles driven grew by 1.8 percent, equating to an annual increase of almost 55 billion miles; the year prior, it grew at a rate of 82 billion miles.
"Retail price increases, driven by a mix of inflation and product mix changes, are influencing the aftermarket trend so far this year," said NPD's Nathan Shipley, director and automotive industry analyst.