Main trends in the aftermarket for 2021
Trends
Despite being consensual that 2020 was a globally challenging year for the automotive industry, the aftermarket sector in particular showed a distinct behavior compared to the new vehicle business, as the impact of the pandemic crisis had different effects on both.
On the one hand, we witnessed very significant drops in the commercialization and registration of new plates starting in March, while used cars (and their respective adjacent services) showed greater resistance to the business decline, largely due to the behaviors adopted by consumers, especially with new habits acquired and also due to the vital importance of the automotive sector itself (transportation) for the dynamics of other economic activities.
This importance of know very well the factors that affect the business in periods of great changes became even more relevant for the next years.
The main trends for 2021 according to Tips4y
The restrictive measures adopted this year due to the pandemic crisis will continue to have a strong impact on economic activities in 2021, given the propagation of this effect over time at a structural level, as well as the climate of uncertainty at a health level, which together may further aggravate the sectors already heavily penalized.
In this context, the trade of new vehicles will continue to suffer this pressure, especially on the consumer side, as the registration of new plate numbers intended for business segments (corporate fleets, mobility services, transport, etc.) may have a different response.
Due to the evolution observed throughout 2020, there are some trends that may emerge or intensify over the next year:
