As the average age of light vehicles in the US continues to
rise, the aftermarket remains poised for growth, albeit in
different ways than historically seen, according to S&P Global
Mobility (formerly the automotive team at IHS Markit). Vehicle
maintenance and repair opportunities from an increasingly aged
vehicle fleet will continue to impact the service and repair
community as service providers and consumers are working to
maintain vehicles that have an average age of 12.2 years.
“Softening new vehicle sales, led by continued inventory
challenges related to global supply chains and forthcoming economic
constraints, as well as ongoing COVID concerns, will be significant
factors in the coming years,” said Todd Campau, aftermarket
practice leader, S&P Global Mobility. “The auto industry is not
expected to realize the same pent up demand as in previous
scenarios given inflationary pressures and other factors,” he
said.
“At the same time, the container shipping supply chain is slowly
recovering from the historic pandemic-driven disruption, but the
system is far from out of the woods,” said Peter Tirschwell, vice
president, maritime and trade for S&P Global Market
Intelligence. Port bottlenecks are easing on the U.S. West Coast
but are persisting on the U.S. East and Gulf coasts, at inland rail
facilities and at warehouses which remain at high levels of
utilization. Even if supply chain pressures are easing, perception
of risk in the supply chain remains highly elevated, with many
importers rightfully concerned about the high potential for future
supply chain shocks such as a longshore labor strike, further COVID
lockdowns in China or other threats.
S&P Global analysts will share insights and highlight these
and other key factors of influence on the aftermarket during three
presentations next week at the Automotive Aftermarket Products Expo
(AAPEX) and SEMA Shows in Las Vegas. Presentation details are as
follows:
At AAPEX:
5 Automotive Trends Impacting the North American
Aftermarket, presented by Todd Campau as part of the AAPEX
General Sessions
Tuesday, Nov. 1, 11:00 a.m.-12:00 p.m., the Venetian, Marco Polo
701.
Campau will share insights on the impact of ongoing supply chain
issues and electrification, as well as emerging economic pressures,
on the aftermarket during his annual overview of key industry
trends.
Will Normal Ever Return to Container Shipping Supply
Chains? This session will be presented by Peter Tirschwell
of S&P Global Market Intelligence.
Thursday, Nov. 3, AAPEX stage, Venetian Expo, 10 – 10:20 a.m.
Tirschwell will share insights on the ongoing global supply
chain impacts, including a discussion on U.S. port challenges and
potential future supply chain shocks.
At SEMA:
Five Trends in 55 Minutes, presented by Todd
Campau.
Monday, Oct. 31, 11 a.m. – noon, Room N256, North Hall, Las
Vegas Convention Center.
Campau will provide insights into the latest aftermarket trends
and consumer behavior influencing business in the current
environment, both in the short and long term.
Interviews with S&P Global experts are available before and
during the events. Please contact Michelle Culver, 248.728.7496 or
via email at michelle.culver@spglobal.com
to arrange.
S&P Global Mobility Exhibit Details
S&P Global Mobility will demonstrate its suite of
aftermarket product solutions across the global passenger and
commercial vehicle aftermarket at its AAPEX exhibit, booth
A4520 at the Venetian Expo Center. Experts will be on hand
for product demonstrations and discussions on the S&P Global
Mobility suite of aftermarket products including enhanced Vehicle
in Operation offerings providing additional insights on emerging
technologies, Vehicle Miles Traveled and AftermarketInsight.
About S&P Global Mobility
At S&P Global Mobility, we provide invaluable insights
derived from unmatched automotive data, enabling our customers to
anticipate change and make decisions with conviction. Our expertise
helps them to optimize their businesses, reach the right consumers,
and shape the future of mobility. We open the door to automotive
innovation, revealing the buying patterns of today and helping
customers plan for the emerging technologies of tomorrow.
S&P Global Mobility is a division of S&P Global (NYSE:
SPGI). S&P Global is the world’s foremost provider of credit
ratings, benchmarks, analytics and workflow solutions in the global
capital, commodity and automotive markets. With every one of our
offerings, we help many of the world’s leading organizations
navigate the economic landscape so they can plan for tomorrow,
today. For more information, visit www.spglobal.com/mobility.
This article was published by S&P Global Mobility and not by S&P Global Ratings, which is a separately managed division of S&P Global.
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- Source: http://www.spglobal.com/mobility/en/research-analysis/sp-global-to-share-aftermarket-insights-at-aapex-sema.html
