The Automotive Industries Association of Canada (AIA Canada) is excited to announce the release of the 2020 Outlook Study. Prepared by Ernst & Young (EY), the report provides data points based on the new realities of the industry. A market leader in the automotive sphere, EY brings sector and economic forecasting experience on both a local and global scale.
The Outlook Study is an indispensable tool for businesses, both large and small, to plan for the coming year. Here are some of the key takeaways from the study:
- Size of the aftermarket: Total revenue for core aftermarket businesses was estimated at $31.7 billion in 2018 and is forecasted to have grown by 1.7% in 2019, reaching $32.2 billion. (It should be noted that due to changes in methodology and the inclusion of collision and mechanical sectors, revenue estimates presented in this study are not comparable to those in previous studies.)
- Employment in the aftermarket sector: In 2019, businesses in the aftermarket sector employed approximately 491,800 Canadians. This was on par with the number of employees in the mining, quarrying, and oil and gas extraction sector along with the real estate, rental and leasing sector combined.
- Aftermarket in a post-COVID world: Aftermarket demand will likely remain resilient in a post-COVID world despite uneven recovery across subsectors. Analysis of retail sales data, GDP statistics and financial performance data suggests that historically, demand for aftermarket products and services has remained relatively resilient in recessionary environments.
Insight on disruptive technologies, emerging markets, and changing consumer preferences are just a few of the data points explored, including information on COVID-19's impact on the aftermarket with recovery trajectories and strategies to navigate the future.
The report also boasts a punchy and concise presentation, and a data visualization tool* that offers critical market intelligence for businesses operating in the Canadian aftermarket industry. It is designed to provide businesses like yours with strategic knowledge necessary to be successful in an ever-changing aftermarket.
Click here to download the FREE Executive Summary.
Members: Download your copy at NO COST via login to your account.
Non-member price: $1,650
Join our webinar!
Join AIA Canada and Mauricio Zelaya, lead economist at EY, for an informative webinar to learn what's new and different in this year’s study, and learn how to get the most out of this important report.
Date October 28, 2020 | Time 2-3 PM (Eastern)
Report is currently available in English only. The French release of the report will be available soon after the release date.
*Data visualization tool available soon.