LAS VEGAS—The U.S. automotive aftermarket continues to grow and is expected to reach $433 billion in sales by 2021, according to Automotive Aftermarket Products Expo organizers during the annual event in Las Vegas.
The automotive aftermarket in 2018 is a $392 billion industry as consumer confidence continues to grow, according to Bill Hanvey, Auto Care Association president and CEO, and Bill Long, Automotive Aftermarket Suppliers Association president and chief operating officer, during the AAPEX keynote event on Oct. 30 at the Sands Expo.
The officials touted growth in the automotive industry, with 50,000 new jobs expected to be added to the 4.6 million jobs currently in the automotive aftermarket.
Vehicles in operation is expected to climb to 85 million in 2020.
The keynote event also included speeches by CNN correspondent John King and former Republican presidential adviser, consultant and author Karl Rove.
Both industry observers agreed that the mid-term elections on Nov. 6 will see a shift in party control in the U.S. House and in some state governorships. Republicans are predicted to hold onto a slim margin in the U.S. Senate.
Rove encouraged business owners to get involved and meet their local government representatives by attending town halls and political events in order to get their voices heard.
"Personal relationships matter," he said.