November 5, 2024
(press release)
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The two automotive aftermarket industry associations partnered to provide forecasts and analysis of the trends in online sales of automotive parts and accessories. E-commerce sales have continued to grow post-pandemic as inflation pressures push consumers toward online channels while seeking lower costs. When third-party marketplaces are excluded, e-commerce sales grew 4.3% versus 2024 and at a compounded annual growth rate (CAGR) of 6.7% through 2027. When complete sales for Amazon, eBay Motors and Walmart are included, total channel sales are projected to grow at a 6.7% annualized growth between 2020 to 2027. Most automotive focused e-commerce platforms have tools for consumers to ensure that the parts they order are compatible with a specific year, make, model, and trim – many even guarantee part fitment, reducing the risk for consumers purchasing online The 2024 Joint E-commerce Trends and Outlook Forecast report provides data and insights for online sales of selected parts categories. Some categories have seen sizable growth in 2024, while many peaked during Covid and have fallen back near pre-pandemic levels of internet channel share. “Readers will learn which product categories follow strong seasonal sales trends via e-commerce, which ones account for sales through Amazon, how much sales on Amazon surge in conjunction with promotional periods, and average cart size amounts for selected parts categories,” said Michael Chung, senior director, market intelligence, Auto Care Association. The report provides key insights on shifting consumer purchasing trends, including the notable rise in hybrid vehicle sales, which saw increased demand as EV sales slowed over the past two years. “This research examines not only current consumer demographics, such as age, household income, vehicle mileage, and vehicle age, but also forecasts when hybrid momentum may stabilize, allowing EVs to regain market share. Our partnership with the Auto Care Association keeps MEMA members well-informed to navigate these evolving consumer preferences and changing market conditions,” said Philip Atkins, director, strategic research and planning, MEMA, The Vehicle Suppliers Association.
BETHESDA, Md. and RESEARCH TRIANGLE PARK, N.C. – November 5, 2024 – The Auto Care Association and MEMA Aftermarket Suppliers have released the 2024 Joint E-commerce Trends and Outlook Forecast report, providing insights into consumer purchase of automotive parts and accessories through the online channel. Unveiled at the 2024 AAPEX event taking place in Las Vegas, Nev., the report offers in-depth analysis and forecasts to support the industry adaptation to consumer behavior for research and purchase of automotive parts and accessories.
Research and analysis for the 2024 Joint E-commerce Trends and Outlook Forecast were led by Jefferies, with a team of leading industry collaborators.
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