CANADA: Aftermarket poised for growth - study
Canada's aftermarket auto service and maintenance industry will see significant growth in the next few years.
Experiencing steady growth since 2001, the industry could benefit even more from untapped potential, a study by the Automotive Industries Association of Canada concluded.
The sector already enjoyed average annual growth of 3.1% between 2001 and 2006. The study said average annual repair costs were predicted to rise to C$1,141 (GBP560) by 2010, a 9.3% increase from 2006.
Additionally, the number of aftermarket cars aged 6-12 years old was expected to represent 43% of the market by that time, the highest percentage in the last 10 years, suggesting large increases in market potential for repairs and maintenance.
The biggest opportunity for industry lay in underperformed maintenance, with more than 47m scheduled maintenance jobs on Canadian vehicles in 2006 never completed, representing some $2.1bn (GBP1bn) in potential service sales.