Asked by: Wilhemina Pirzadyanasked in category: General Last Updated: 22nd February, 2020
How big is the automotive aftermarket industry?
In this regard, how big is the automotive repair industry?
The US automotive repair and maintenance services industry includes about 160,000 establishments (single-location companies and units of multi-location companies) with combined annual revenue of about $115 billion. Demand depends on miles driven and the number of cars on the road.
Subsequently, question is, what considered aftermarket? The definition of aftermarket parts is replacement parts that are made by a company other than the car's original manufacturer. Aftermarket parts are also known as: Generic parts. Non-OEM parts. Competitive replacement parts.
One may also ask, what is the automotive industry worth?
In 2018, the U.S. automotive industry contributed 2.7% to U.S. gross domestic product. That's $545.4 billion out of the total $20.5 trillion produced. Of that, $327.1 billion was auto manufacturing and $218.3 billion was vehicle retail sales.
Are aftermarket parts legal?
Any changes made to a vehicle after you've purchased it are called “aftermarket,” which means they are not factory installed. Even though you own your vehicle and can legally deck it out nearly any way you like, some modifications will render your vehicle illegal for use on public roadways.