Why the Automotive Industry is Shifting Gears

Why the Automotive Industry is Shifting Gears

Sales of new cars are at the lowest they’ve been in decades, yet 2020 been a record-setting year for the industry.

Why is that? Well, car sales don’t tell the whole story.

The automotive industry thrives on its aftermarket—which includes the distribution of automotive parts, chemicals, equipment, and accessories, as well as maintenance services.

With today’s consumers keeping their cars longer, the automotive aftermarket is booming. Profits are expected to reach a record-setting $722.8 billion by the end of 2020.2

And much of it will be due to online sales; in North America alone, the online automotive ecommerce market size is now valued at $20 billion, up 30% from 2019. 3

With the aftermarket growing, new product trends are arising.

Ceramic coating

Ceramic coating

Microfiber cleaning cloths, commonly used along-side ceramic coating

Ceramic coating is a chemical solution applied to the exterior of vehicles, creating a layer of protection against rusting and external paint damage. Since its development in the early 2000’s, ceramic coating has grown to become a common, low-cost alternative to waxing.

Socket wrench

Socket wrench

Socket wrenches are tools used for tightening hard-to-reach nuts and bolts sunken into a “socket” (hence the name). Using a ratcheting mechanism, socket wrenches easily allow users to tighten bolts by pivoting back and forth.

Digital tire-pressure gauge

Digital tire-pressure gauge

A good tire-pressure gauge is crucial to road safety, but traditional gauges (which use a clock face-like display and moving needle) aren’t always precise. Digital tire-pressure gauges use sensors and a digital display to provide a more accurate read-out of tire-pressure.

Portable power station

Portable power station

Portable power stations are rechargeable, battery-powered generators used to recharge car batteries or electronics on the road. Newer models are usually fitted with usb ports, and some heavy-duty power stations even double as jump starters for your car. See Highly rated and well-priced products on Amazon.