US motor vehicle aftermarket grew 3% in '03

The size of the United States motor vehicle aftermarket increased by 3% to $244.6 billion in 2003, according to the AAIA 2004/2005 Aftermarket Factbook published by the Automotive Aftermarket Industry Association (AAIA).

“This steady growth should be good news to investors, especially with forecasts calling for 3.5% increases in 2004 and 2005,” said Kathleen Schmatz, AAIA president and chief executive officer.

A recovering US economy increased the pace of consolidation in the aftermarket after three years of declines in acquisitions, according to the Factbook. A total of 48 reported mergers and acquisitions occurred among aftermarket businesses in 2003 — an increase of 9%.

The four-color Factbook is available for $99 for AAIA members and $199 for non-members. To order, phone 301-654-6664 or order online at www.aftermarket.org. Discounts are available for multiple copies.

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