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IHS Markit to share aftermarket tendencies and perception at AAPEX, SEMA 2021

IHS Markit to share aftermarket tendencies and perception at AAPEX, SEMA 2021

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The common age of sunshine autos in operation within the U.S.
reached a file of 12.1 years earlier this yr, as greater than 279
million autos had been recorded within the U.S. fleet, in line with
analysis from IHS Markit, a world chief in important info,
analytics and options. The rise in common age will additional
drive car upkeep alternatives from an more and more aged
car fleet, because the affect of latest expertise continues to
impression the restore neighborhood.

Decreased new car gross sales on account of COVID-19 and subsequent
stock challenges because of the world microchip scarcity, as properly
as excessive scrappage charges in 2020, contributed to the typical age
development final yr, although 2021 scrappage charges are normalizing
considerably given elevated used car demand in 2021, and autos
in operation are climbing. Older autos within the fleet proceed to
present a sturdy enterprise pipeline for aftermarket firms – from
elements producers, distributors and retailers to service and
restore amenities – and dealerships are working to extend service
lane site visitors whereas stock ranges are low.

In response to IHS Markit analysis, common car miles traveled
(VMT) for mild autos in 2021 is anticipated to achieve 12,355 miles
for passenger automobiles and lightweight vehicles, after a big drop in
VMT through the pandemic in 2020. The return of miles traveled
towards regular volumes additional underscores the robustness of the
alternative for restore and upkeep.

IHS Markit will spotlight these and different key trade tendencies
impacting the worldwide automotive aftermarket and the anticipated position
new expertise will play throughout two displays subsequent week on the
Automotive Aftermarket Merchandise Expo (AAPEX) and SEMA Present in Las
Vegas.

“We sit up for reconnecting and sharing our newest insights
with trade leaders and shoppers throughout AAPEX and SEMA,” mentioned Todd
Campau, affiliate director, aftermarket options at IHS Markit.
“Our aftermarket options assist clients resolve important enterprise
challenges, and supply a complete analytical view of the
world market – in additional than 100 international locations world wide – as
the fleet continues to develop and evolve,” he mentioned. “The experience
and perception we offer is important to the trade as we transfer
ahead on this new setting.”

Particulars of IHS Markit displays at AAPEX and SEMA
comply with:

  • AAPEXEdu – 5 Developments in 5 Minutes: International
    Aftermarket Developments and Impacts, Wed., Nov. 3, 11:00 a.m.-12:00
    p.m., The Venetian, Marco Polo 701.
    Campau will share
    an annual overview of key trade tendencies and new perception affecting
    the worldwide aftermarket. From COVID-19 restoration to the ever-changing
    new car market and ageing of the fleet, the automotive
    aftermarket continues to evolve. Electrification, autonomy,
    expertise and different new car tendencies are impacting aftermarket
    restore alternatives quicker than ever earlier than.
  • SEMA – Trade Insiders Dish on the Way forward for the
    Specialty Tools Trade
    , Thurs.,
    Nov. 4, 10:15-11:15 a.m., Room N257, North Corridor, Las Vegas
    Conference Middle
    Scott Huston, director – retail,
    aftermarket and business group, IHS Markit, will present insights
    into the newest aftermarket tendencies and client habits
    influencing enterprise within the present setting, adopted by a
    panel dialogue.

IHS Markit Exhibit Particulars

IHS Markit will show its options suite for the worldwide
passenger and business car aftermarket at its AAPEX exhibit,
Sales space #4620 on the Sands Expo Middle. Consultants might be available for
product demonstrations and discussions on a number of merchandise,
together with the newest enhancements to its lately launched
AftermarketInsights, which gives element and analytics to assist
these doing enterprise within the world aftermarket make important
enterprise selections.


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