Online auto parts sales in the United States represent business opportunities because of the size of the market.
According to projections by the U.S. Auto Care Association (ACA), overall revenue from online auto parts sales will reach $21 billion by 2025.
The opportunities? The ACA believes that improved availability of auto parts and accessories, lower prices and consumers’ increasing comfort with digital platforms are driving the shift to online sales.
Online auto parts sales
The total number of vehicles on the road and the average age of the vehicle fleet in the U.S. market greatly influence the demand for products sold in the automotive aftermarket.
For the year ended December 31, 2023, the seasonally adjusted annual rate of U.S. light vehicle sales (SAAR) was approximately 15.8 million vehicles. This contributed to continued growth in the total number of registered vehicles on the road.
From 2012 to 2022, vehicle scrappage rates have remained relatively stable, ranging from 4.1 to 5.7% per year.
As a result, over the last decade, the average age of the U.S. vehicle population grew 9.9%, from 11.1 years in 2012 to 12.2 years in 2022.
Annual changes in the vehicle population resulting from new vehicle sales and fluctuation in vehicle scrappage rates in a given year represent a small percentage of the total light-duty vehicle population.
Used vehicles
These changes generate a moderate impact on the total number of vehicles on the road and on the average age of vehicles. However, this effect is mainly observed in the short term.
According to O’Reilly Automotive, the online auto parts business in the United States benefits from higher prices for new and used vehicles. For this reason, consumers are more willing to invest in the maintenance of their current vehicles.
O’Reilly Automotive stands out as one of the largest retailers of automotive parts, tools, equipment and accessories in the United States. In addition, it offers products for both do-it-yourself and professional service customers. This strategy, known as “dual marketing,” drives its success.
The data related to this activity:
- Value in 2023: $497 billion.
- Estimated value in 2024: $514 billion.
- Jobs: 4.5 million.
- Vehicles in use: 292.2 million.
- Outlets: 278,532.
The average age of U.S. light-duty vehicles, an indicator of demand for auto parts, reached a new record high of 12.5 years in 2023, according to the ACA.