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Letter to the Editor
Monday June 7
AAIA Says U.S. Motor Vehicle Aftermarket Increased 3% in 2003
The size of the U.S. motor vehicle aftermarket grew by three percent in 2003 to $244.6 billion, according to the "AAIA 2004/2005 Aftermarket Factbook," recently published by the Automotive Aftermarket Industry Association (AAIA)."More registered vehicles, more licensed drivers, more miles traveled and an aging of the vehicle fleet all helped expand the domestic aftermarket," said Kathleen Schmatz, AAIA president and CEO. "This steady growth should be good news to investors, especially with forecasts calling for 3.5 percent increases in 2004 and 2005."
The recovering U.S. economy increased the pace of consolidation in the aftermarket after three years of declines in acquisitions, according to the Factbook. A total of 48 reported mergers and acquisitions occurred among aftermarket businesses in 2003, an increase of 9 percent.
The "2004/2005 Aftermarket Factbook" includes statistical tables, charts, analysis and trends in the U.S. and key international markets.
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