New Research: Auto Care Industry Expected to Grow 5.7% in 2024, Reach $617.3 Billion in 2027

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Jun 10, 2024, 08:00 ET

Newly released 2025 Auto Care Factbook report shows automotive aftermarket industry with 8.6% growth rate in 2023, exceeding projections and demonstrating continued stable growth year over year.

BETHESDA, Md., June 10, 2024 /PRNewswire/ -- The Auto Care Association today released its award-winning and industry-leading online publications, the 2025 Auto Care Factbook and the 2025 Auto Care Factbook & Lang Annual. The annual reports are the gold standard for automotive aftermarket industry data and include critical insight for aftermarket businesses to make informed, data-based decisions for the future. This 34th edition of the Auto Care Factbook report provides more new data than ever, including insight on how the auto care industry remains resilient amidst economic challenges, the latest consumer and industry trends, expanded international market performance and more.

Despite challenges such as persistent inflation, the aftermarket demonstrated resilience, with total United States light duty aftermarket sales growing by 8.6% in 2023 to $392 billion—surpassing the previous year’s projections of 8.1%.

The auto care industry exceeded expectations in 2023. Despite challenges such as persistent inflation, the aftermarket demonstrated resilience, with total United States light duty aftermarket sales growing by 8.6% in 2023 to $392 billion—surpassing the previous year's projections of 8.1%. Light vehicle growth in 2024 is expected to be at a robust 5.9%, with the total light, medium and heavy duty automotive aftermarket now expected to be a $617.3 billion industry in 2027.

In this 193-page Auto Care Factbook report, readers will find:

The Joint Channel Forecast Model through 2027 prepared by S&P Global;
Financial Benchmarks provided by Jefferies;
E-Commerce trends;
Vehicle registrations and usage;
Collision, Paint, Body and Equipment data;
State summary statistics;
NEW Global Aftermarket industry profiles for Argentina, Brazil and Guatemala;
UPDATED Aftermarket industry profiles for Bolivia, Canada and Mexico;
UPDATED Driving behavior data;
UPDATED Auto care industry consumer profiles and aftermarket service satisfaction by IMR, Inc.;
UPDATED Electric vehicle aftermarket in China;
UPDATED Tool and equipment purchasing trends;
UPDATED Medium and heavy duty vehicles technology, parts and distribution; and
Much more.

The 2025 Auto Care Factbook also provides Auto Care Association members exclusive access to nearly 50 economic and industry indicators through the association's Auto Care TrendLens™ interactive data platform. Using the TrendLens™ platform, members can view up-to-date data, filter and overlay with other data sets to gain a more complete view of the industry and its current trends.

"As credit card debt in the U.S. reaches an all-time high of more than $17 trillion in 2024, Americans are feeling the weight of inflation and choosing more cost-saving options when possible, including with the maintenance of their cars," said Bill Hanvey, president and CEO, Auto Care Association. "For many of the 236 million licensed drivers in the U.S., driving isn't a luxury—it's an everyday necessity—and the automotive aftermarket is proving to be the most viable option for affordable service and repair for many Americans as their budgets tighten. This year's Factbook report underlines this trend of cost consciousness for the American consumer from the barber shop to the repair shop. The Factbook gives readers a holistic view of the aftermarket with the latest available data, equipping industry professionals with the information needed to plan for the year ahead."

The 2025 Auto Care Factbook & Lang Annual includes the Auto Care Factbook plus the Lang Annual, which provides a supplemental, comprehensive overview of the U.S. light vehicle aftermarket and presents information and analysis available from no other source.

All Auto Care Association contacts at member companies receive a complimentary digital copy of the 2025 Auto Care Factbook report as an association member benefit. The non-member price for the publication is $2,850. The Auto Care Factbook & Lang Annual report can be purchased for $1,095 for members and $3,945 for non-members.

To order any of these digital publications, please visit autocare.org/factbook or contact the Member Services department at [email protected] or 301-654-6664.

SOURCE Auto Care Association