Global Automotive Part Store Industry
The global automotive part store industry recorded slight growth during the economic recession as an increasing number of vehicle owners opted for the cheaper alternative of repairing their vehicles themselves due to falling levels of disposable income. Companies in the automotive parts market provide parts and accessories for motor vehicles including radiator cores, air bags, engine exhaust systems, wheels, air-conditioners, radiators, catalytic converters, mufflers, resonators and more.
There are four main groups of auto part store products, namely accessories, performance parts, maintenance parts including fluids and filters, and critical parts, reports IBIS World. Auto part product purchases are usually urgent as functioning parts are necessary to keep the vehicle running. Wear and tear on maintenance parts happens gradually, leaving a margin for customers to decide when to replace parts.