Similar to the 2007-09 economic downturn, automakers are turning their attention to the aftermarket with renewed interest in today's economic uncertainty.
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Close to one-third of U.S. automakers expect parts and service to contribute no less than half of their entire revenue within the next five years.
SEMA seeks federal guidelines that provide a clear roadmap for the range of ride height and vehicle profile modifications that maintain proper ADAS calibration.
Analysts say a record nearly one in four vehicle trade-ins toward new car purchases with negative equity carried more than $10,000 in debt.
Both factors will have several significant consequences including average vehicle age, vehicle age mix, and the number of domestic nameplates on the road.
"The $20,000-vehicle is now mostly extinct, and many price-conscious buyers are sidelined or cruising in the used-vehicle market," says analyst.
As EV adoption grows, many shops are still in the early stages of readiness, which is an opportunity for those willing to invest in EV training and tools.
