Lang Aftermarket iReport offers interesting insights
If you want to read something that causes you to raise your eyebrows, just look at some of the latest findings from the Lang Aftermarket iReport.
Did you know a “growing share” of Americans ages 18 to 34 have elected to not get a driver’s license?
Yes, it’s true.
In 1985, only 7 percent of Americans 18 to 34 years old didn’t have a driver’s license.
In 2018, an estimated 23 percent in that age group didn’t have a driver’s license.
“Getting a driver’s license, which used to be a rite of passage for American youth, especially Baby Boomers, is not important to many Millennials,” the recent report said.
Did you know foreign nameplates will comprise 54 percent of the repair-age “sweet-spot” by the end of this year?
Yes, it’s also true.
The aftermarket “sweet-spot” consists of vehicles six to 10 years old on U.S. roads.
The 54 percent figure is twice what the foreign nameplate share was at the turn of the millennium, Lang reported.
Did you know the “total light vehicle ‘aftermarket’ volume (products and purchased service) climbed more than $28 billion at user-price between 2012 and 2017?
Yes, it did.
For those who don’t know, “aftermarket” is a secondary market of the automotive industry that supplies spare parts, accessories, and other goods and services used in motor vehicle repair and maintenance.