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Monday, 21 June 2021 22:08

Nationwide Study Highlights Post-Pandemic Insights for the Automotive Aftermarket

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While automotive aftermarket companies, suppliers, distributors and industry professionals all try to discern their path forward in a quickly evolving landscape, a newly released study shows U.S. adults plan to drive more overall post-pandemic.

“Post-pandemic” for this study is described as when vaccines are widely distributed. This could mean significant industry growth in the near future.

 

The nationwide study, published by global market research firm The Martec Group, documents on average a 17% increase in overall vehicle miles traveled (VMT) post-pandemic.

 

Across all categories---household and business---respondents expect to drive more post-pandemic than before the COVID-19 pandemic. Reasons for the increase include pent-up demand for travel and activities; additionally, many people moved during the pandemic, with more than one-third moving farther away from work.

 

“As we’ve seen through our own research and in multiple other studies, the shift to remote work is not going away,” said study author Chuck Bean, Martec partner/CMO. “However, we expect usage and ownership of personal vehicles to increase. In our study, a high percentage of respondents living in urban locations reported being likely to move to a suburban or rural location due to the pandemic.”

 

Shifting population data along with increased VMT insights suggest the automotive aftermarket is about to experience substantial growth. The pandemic also has impacted how people maintain or service their vehicles as well as their buying behaviors for vehicles, services and parts.

 

The pandemic has caused many consumers to delay purchasing or leasing a new vehicle. More than half of these consumers do not expect to do so until the second half of 2021, increasing average vehicle age.

 

In addition, the majority of respondents have...


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