Industry Analysis & Industry Trends
The recession both benefited and hindered the industry. A decline in disposable income and employment resulted in a greater number of consumers transforming into do-it-yourself customers and visiting auto parts stores in order to do their own auto repairs. At the same time, the poor economic climate limited demand from commercial clients, which rely on strong economic conditions to increase production. Over the next five years, disposable income and employment will continue to rise, resulting in weaker demand from consumers, but stronger demand from commercial clients... purchase to read more
Industry Report - Industry Analysis Chapter
The Auto Parts Stores industry retails a range of automotive supplies and accessories tailored for passenger vehicles and heavy-duty vehicles, such as trucks, buses and trailers. Industry participants sell brakes, transmissions, filters, batteries, lubricants, diagnostic tools, motor oil and floor mats, among other items. Over the five years to 2014, IBISWorld estimates that industry revenue will rise at an average annual rate of 0.6% to $2.9 billion, including growth of 1.8% in 2014.
Due to the nondiscretionary nature of industry products, auto parts stores operate in both cyclical and countercyclical fashions. When economic conditions are strong and disposable income levels are high, consumers are more likely to have their vehicles serviced by a professional... purchase to read more