The numbers are in: The U.S. aftermarket does it again with surging growth

The U.S. aftermarket has once again surpassed expectations, growing by an impressive 8.6% in 2023, reaching $391 billion in total sales, according to the latest Joint Forecast Model from MEMA Aftermarket Suppliers and the Auto Care Association. This report underscores the resilience of the sector amid ongoing inflation and economic challenges.

The U.S. aftermarket has once again surpassed expectations, growing by an impressive 8.6% in 2023, reaching $391 billion in total sales, according to the latest Joint Forecast Model from MEMA Aftermarket Suppliers and the Auto Care Association. This report underscores the resilience of the sector amid ongoing inflation and economic challenges.

Despite persistent inflation, consumers continue to invest in vehicle maintenance and repair, demonstrating the indispensable role of the aftermarket in their daily lives.

Looking forward, the forecast projects a 5.9% growth in 2024, with average annual growth of 4.5% through 2027. As inflationary pressures ease and the vehicle fleet expands, the aftermarket is positioned for sustained success.

The continued strength and growth of the U.S. aftermarket show that, no matter the economic climate, people will always prioritize keeping their vehicles running smoothly.

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For the latest news and information on the global automotive aftermarket industry, visit https://aftermarketintel.com. Do you have news? Contact Aftermarket Intel Editor Mark Phillips at mark@lpnewmedia.com. He’s on LinkedIn here.

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