Aftermarket Insider Issue 70 - (Page 3)

business buzz MARKET INTELLIGENCE what’s Making an Impact? The Key Issues Impact survey was first announced in Aftermarket Insider in December 2010, and the survey framework was explained as an ongoing quarterly program for measuring member opinion on certain hot-button issues related to the economy, the consumer, technology and repair outlets. AAIA members are asked for feedback on 18 issues and three months later, are asked to repeat the process. AAIA Market Intelligence and Northwood University compare previous scores with the current score and report findings. • With 18 questions, the results broke into three equal groups of six with the top six all having weighted scores above 3.50 (considered to have greatest impact on their businesses) and the lower six all falling below 3.00 (considered to have the least impact on their business). • Of those questions falling in the top group, three of the six items were “Economic” issues, two were “Technology” issues and only one was considered a “Consumer” issue. • Not surprising, the top issue suggests a major concern for unemployment and household budgets. • Also not surprising are the second and third ranking items, both of which are considered key components for continued growth of the automotive aftermarket: the “Average Age of Vehicles” and “Consumers Opting to Maintain Their Vehicles as Opposed to Buying New Vehicles.” • Issues of least concern to respondents were “Consumers Seeking Alternative Forms of Transportation” and “Virtual Office/Telecommuting.” For more information, visit www.aftermarket.org/ marketintelligence. Weighted Score 3.90% 3.86% 3.86% 3.76% 3.75% 3.54% 3.49% 3.30% 3.20% 3.16% 3.06% 3.02% 2.97% 2.95% 2.86% 2.78% 2.75% 2.41% Impact: [Least (1) to Most (5)] 1 2.3% 4.6% 5.7% 5.7% 2.3% 10.3% 11.5% 5.7% 9.2% 8.0% 12.6% 17.2% 14.9% 16.1% 16.1% 17.2% 18.4% 25.3% 2 9.2% 9.2% 9.2% 6.9% 8.0% 8.0% 11.5% 16.1% 18.4% 18.4% 20.7% 16.1% 18.4% 13.8% 23.0% 23.1% 25.4% 31.0% 3 16.1% 19.5% 18.4% 19.5% 31.0% 24.1% 25.3% 34.5% 32.3% 34.5% 23.0% 28.8% 34.6% 40.2% 29.9% 31.1% 27.6% 18.4% 4 41.4% 27.7% 23.0% 41.5% 29.9% 32.3% 18.4% 29.9% 21.8% 27.6% 24.2% 20.7% 19.5% 18.4% 18.4% 19.5% 12.6% 16.1% 5 31.0% 37.9% 40.3% 26.4% 28.7% 25.3% 32.2% 13.8% 17.2% 11.5% 13.8% 16.1% 12.6% 11.5% 11.5% 8.0% 12.6% 4.6% Did Not Answer 0.0% 1.1% 3.4% 0.0% 0.1% 0.0% 1.1% 0.0% 1.1% 0.0% 5.7% 1.1% 0.0% 0.0% 1.1% 1.1% 3.4% 4.6% The Market Intelligence Committee completed their work on the list of 18 key issues during the first quarter of 2011 and the survey was launched March 22. The results from this initial survey are summarized in the table below. Key findings are noted as follows: • The overall response rate was 6.13 percent, a level considered normal for similar surveys. • Weighted scores were calculated and issues were ranked from high to low. Survey Ranking 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 Q# 3 6 10 11 1 12 15 4 18 2 9 14 16 17 13 5 7 8 Issue Code E E C T E T T E RO E C T RO RO T E C C Question Unemployment and household budgets Average age of vehicles Consumers opting to maintain their vehicles as opposed to buying new vehicles Longer lasting vehicles are extending the vehicle repair window General health of the economy Increasing vehicle complexity emphasizes the need for professional technician’s expertise Telematics that could exclude small repair shops Changing volumn of new vehicle sales The decrease in the total number of new car dealers Consumer debt Aging baby boomers’ preference for professional technician’s expertise Telematics that currently connect vehicles to primary, new car dealers Changes in DIFM service events Increased efficiencies and productivity of service bays Telematics that level the playing field by connecting vehicles to repair shops Fewer new light truck sales Consumers seeking alternative forms of transportation Virtual office/telecommuting Issue Codes: E: Economic C: Consumer T: Technology RO: Repair Outlet AFTERMARKET INSIDER | VOLUME 70 | 3 http://www.aftermarket.org/marketintelligence http://www.aftermarket.org/marketintelligence

Table of Contents for the Digital Edition of Aftermarket Insider Issue 70

Aftermarket Insider Issue 70
Contents
President’s Message
Market Intelligence
Digital Aftermarket Factbook 2012
Car Care in California
Member Profile
Toolbox: Employee Morale
Inside Legislation
Green Highlight
Technology Update
Market Intelligence
Executive Perspective
AAPEX News

Aftermarket Insider Issue 70