Aging Cars Opportunity for Dealers

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Automotive News - April 18, 2012

The reces­sion of 2007 and the extreme­ly slow recov­ery may be hid­ing an impor­tant oppor­tu­ni­ty for deal­ers. With the issues of tight cred­it, mort­gage fore­clo­sures, unem­ploy­ment and high gas prices fac­ing many Amer­i­can con­sumers, new car sales hit near record lows. Sales of new cars and trucks have only in the past sev­er­al months begun to improve. As a result the aver­age of vehi­cles on Amer­i­can roads has reached a record 10.8 years.

The oppor­tu­ni­ty for deal­ers is that dri­vers must keep these old­er cars in work­ing order. In a sig­nif­i­cant increase over pre-reces­sion lev­els, 59% of con­sumers buy­ing auto­mo­tive after­mar­ket prod­ucts say they are for vehi­cles of eight years or old­er with 19% for vehi­cles 15+ years old, accord­ing to a sur­vey by Polk. For the fore­see­able future NPD Group believes this trend will con­tin­ue despite improved new vehi­cle sales.

Deal­ers who mar­ket to the own­ers of old­er vehi­cles stand to ben­e­fit.

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