The average age of a car in a dealer workshop is 2 years.
The average age of a car in an independent workshop is 10 years.
Guess which owners spend the most amount of money on parts?
Opportunity knocks apparently. Well, it certainly does in the Aftermarket. And it’s unique in that way.
It’s not rocket science. Things get more expensive to repair as they get older. But the difference in the automotive aftermarket is that the cars keep getting repaired. Think of TVs, laptops, fridges, washing machines. If they break and they’re out of warranty, some may opt for an expensive repair. But the vast majority will just buy a replacement. The cost of the repair – relative to the cost to replace – is high. So, why bother?
That’s not the case with cars. People keep their cars. An average age of car in an independent workshop being 10 years is incredible but totally believable. Five years ago, our research showed it to be closer to 8 years old.
Back in April 2022, we monitored the age and type of vehicles moving through an Independent Repairer in Luton, England over the course of a two-week period. Over 300 vehicles came and went during that time, all of which had a hard parts requirement. Here’s what we found:
Vehicle age
| Under 3 years | 5% |
| 3-5 years | 15% |
| 5-8 years | 28% |
| 8-11 years | 40% |
| 11 and older | 12% |
Take a quick stroll around a popular out of town retail park on a Saturday afternoon and you’ll see for yourself just how old vehicles are getting. Obviously COVID and global supply chain issues have played a part. But, for the aftermarket, they’ve helped grow the opportunity! There’s never been a better time to target parts sales for older vehicles. The graph on the left applies to every brand operating in an established automotive market.
Market share decreases with vehicle age, just as the number – and value – of the parts consumed by ageing vehicles increases dramatically. This means the trade sales opportunity increases exponentially the older they get. Any growth from an existing position is incremental and will lead to extra revenue for any Manufacturer attempting to target sales of parts for older vehicles.