Analysis: Resilient US automotive aftermarket grows 8.6% to $392 billion in sales in 2023

Even as inflation in the US remained stubbornly high in 2023, resilient consumers kept driving and spending on their vehicles, supporting aftermarket sales.

The US light vehicle automotive aftermarket, also known as the auto care market, exhibited above-trend growth in the past year as it continued to power out of the pandemic-enforced dip of 2020. It did this despite the challenge of persistent inflation in the year, the latest industry data has revealed. The segment grew by 8.6% in 2023 to $392 billion — surpassing the previous year’s projections of 8.1%, according to the channel forecast provided annually by S&P Global Mobility to the US aftermarket industry through a collaboration between Auto Care Association and MEMA Aftermarket Suppliers.