The industry will experience a shift in DIFM market share and parts proliferation will significantly rise as lower new auto sales increase the average age of vehicles.
Posts tagged as “new car sales”
Over the past year, average marketed price increased by $1,896 with almost 85% of that growth taking place since March 1 alone.
Data shows car buyers are putting less money down and turning to longer loan terms at record levels as affordability pressures persist.
Data shows average monthly payments and the average amount financed for new-car purchases also reached new record highs in Q4.
"The $20,000-vehicle is now mostly extinct, and many price-conscious buyers are sidelined or cruising in the used-vehicle market," says analyst.
Overall, new vehicle registrations among all brands, including hybrids, show an increase of 8.3 percent growth from this time last year.
Despite recent low new-vehicle sales, several key factors will fuel an increase, not a decrease, of annual aftermarket volume.
