The French government is determined to speed up the improvement of air quality and decarbonize urban mobility. France was one of the first to adopt the target of phasing out the sale of new light-duty vehicles that use fossil fuels by 2040, and the country wants to accelerate the conversion of the car population to electric, hydrogen, and hybrid with an aim to achieve carbon neutrality by 2050. In 2021, the French parliament adopted a law that includes measures such as ending sales of new passen...

India’s automotive aftermarket industry returned to growth in fiscal year (FY) 2022 (April 2021–March 2022) after coming under pressure in the previous FY owing to the slowdown in the auto component and the overall automotive industry. In FY 2022, the aftermarket industry revenue grew at the fastest pace in five years, indicating a return to normalcy with the industry size surpassing pre-pandemic levels.   In FY 2022, the turnover of the automotive aftermarket stood at INR742.03 bill...

Vehicle miles traveled (VMT), which refers to the total annual miles of vehicle travel in a state or an urbanized area, is often looked at as a key indicator for the aftermarket. In addition to being a primary indicator of travel for policymakers and transportation professionals, VMT can be leveraged to derive opportunities for the vehicle service and maintenance sector. How the pandemic-induced work from home impacted VMT The year 2019 was the sixth consecutive year during which the US wi...

The average age of light vehicles in operation (VIO) in the US rose to 12.2 years this year, increasing by nearly two months over the prior year, according to new research from IHS Markit. This is the fifth consecutive year that the average vehicle age in the US has risen. This year’s average age marks another all-time high for the average age, even as the vehicle fleet recovered, growing by 3.5 million units in the past year. The global microchip shortage, combined with associated supply c...

The automotive aftermarket in India is undergoing a significant change with consumer sentiments, mobility requirements, and supply chains all experiencing transformation. There is an enhanced focus on localization and the pandemic has brought to the fore a need to have innovative solutions. To be successful, it will be important for each stakeholder to understand the impact of the disruptive effects and recognize the opportunities that the automotive aftermarket presents. Aftermarket overview...

Mainland China is the world’s largest market for battery electric vehicles (BEVs) and is expected to remain for the foreseeable future. The continued push toward new energy vehicle (NEV) adoption both for corporate and private Chinese buyers along with heavy subsidies by the central government have, to a large extent, driven this quick transition to electrified vehicles. In the Chinese context, NEVs refer to BEVs, plug-in hybrid electric vehicles (PHEVs), and fuel-cell electric vehicles (FCEVs...