Ottawa, Ontario – Steady growth and opportunity define the automotive aftermarket, according to the 2007 Outlook Study released today by the Automotive Industries Association of Canada.
The study shows that in the period spanning from 2001 to 2006, the average annual growth rate was 3.1%, with the average annual cost of repair forecasted to jump from $1,044 in 2006 to $1,141 in 2010. Prime aftermarket vehicles that are 6-12 years are expected to reach a decade high of 43% of the fleet.
�The study shows some very encouraging increases in market potential for repairs and maintenance in the coming years. It indicates many areas of opportunity within our industry and offers some solid insight into the future of our target markets,� according to Marc Brazeau, AIA President.
The biggest opportunity lies in capturing some or all of the underperformed maintenance that exists. DesRosiers Consultants determined that, in 2006, 47.8 million scheduled maintenance jobs were not completed on Canadian vehicles, across 7 categories of maintenance. This represents a staggering $2.1 billion in lost aftermarket potential.
�AIA�s members and partners have used the Outlook studies to help set the direction of their companies,� says Larry Raymond, Chair of the Executive Board and Manager of Blue Streak-Hygrade Motor Products. �The 2007 Study offers highly relevant, useful information, critical to gauging the future of our industry.�
The study was completed by DesRosiers Consultants Inc. and looks at the Canadian automotive-related markets. Members can download the FREE PDF by logging on to their account at www.aiacanada.com and clicking on �Publications�.
Non-members can purchase the study for $900 from the e-Store on the AIA website. The study is also available on CD.
About The Automotive Industries Association of Canada (AIA)
AIA is a national trade association representing the automotive aftermarket industry in Canada. The aftermarket is a $16.1 billion industry that employs more than 220,000 people. The industry is composed of companies that manufacture, distribute and install automotive replacement parts, accessories, tools, and equipment.
AIA represents manufacturers, re-builders, manufacturers agents, warehouse distributors, national distributors, buying groups, wholesalers, machine shops, retailers, and through its councils, the interests of collision repair shops and automotive service and repair outlets. www.aiacanada.com.
