Auto parts retailers are gaining from consumers attempting to keep their aging vehicles on the road as the Great Recession drags on. Auto parts retailers experienced a seven percent growth in dollar sales for year-to-date April 2010 when compared with a year ago. Much of the volume growth came through the commercial channel, as repair shop bays filled up with aging vehicles.
Automakers are hoping for resurgence in new vehicle sales from aging vehicles, although a new study indicates this may be a false assumption.
These findings are from the NPD Group, whose Aftermarket Industry Monitor tracks item-level sales at more than 18,000 U.S. auto parts store.
NPD says that the sales growth is driven by applications parts, which increased ten percent in dollar volume for the January through April 2010 time period versus a year-ago. The dollar gains came from real unit volume growth reflecting an actual increase in consumer transactions for replacement parts.