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By Counterman
You can’t turn a corner these days without seeing a headline about electric vehicles. In recent years, this caused some consternation in the automotive aftermarket, with internal combustion engine (ICE) vehicles being the bread and butter for this industry. However, new data shows there will continue to be room for – and a need for – products for both incoming electric and ICE vehicles.
According to data from the Joint EV Trends and Outlook Forecast from MEMA and Auto Care Association, while EVs are beginning to penetrate the U.S. car parc, ICE vehicles will maintain the majority share through 2040. By 2030, the average estimate for approximately 30% of new car sales will be electric vehicles, according to PwC, which partnered with the associations on the joint forecast.
That being said, over the past several months, we have seen a significant uptick in industry activation surrounding vehicle electrification, in a variety of ways.
Within the automotive aftermarket, we are beginning to see a mindset shift, moving from skepticism surrounding the idea of EVs into more companies seeing the opportunities available in this rapidly growing space. Take for example longtime diagnostic products provider Autel entering the market this past June with the launch of its new Autel Energy division, which released the MaxiCharger Home and Commercial Level 2 AC chargers, available in 40-amp and 50-amp flexible charging configurations, compatible with all plug-in electric vehicles.
In the automotive repair equipment space, BendPak recently introduced its EV2400SL EV battery pack and powertrain lifting system. This push-around full-rise scissor lift table is designed to make replacing both electric vehicle battery packs and internal combustion powertrain components more efficient, the company said. The patent-pending design offers all the benefits of BendPak’s former SL24EVT lifting system with several user-friendly enhancements.
Just this past month, GM announced plans to invest a total of $20.5 million across three of its Customer Care and Aftersales parts distribution centers in Tennessee and Michigan to modernize warehouse operations as the automaker prepares for industry growth and electric vehicle readiness.
NAPA also saw the need to invest in preparation for the incoming change and this past fall announced its “NexDrivePowered by NAPA” training program in the U.S. to prepare repair shops for the changes electrification brings in the repair segment.
In January, Shell paid a cool $169 million to acquire EV charging company Volta to “unlock long-term growth opportunities in electric vehicle charging,” the company stated.
Bridgestone unveiled at CES this January it’s new Smart Corner solution, a demonstration of the ability to enhance the performance, comfort and efficiency of electric and autonomous vehicles, while maximizing the lifespan of tires and air springs. The solution combines premium Bridgestone tires and Firestone Airide (previously Firestone Industrial Products) air springs that are engineered specifically for electric and autonomous vehicle applications.
Standard Motor Products said it is committed to providing replacement parts for hybrids and EVs and has added new part numbers specifically for hybrids and EVs through its Standard and Four Seasons brands.
Valvoline and ENEOS both have developed automotive fluids specifically for use in Hybrid and Plug-in EVs.
These are just a handful of examples of businesses that have long been involved in the traditional ICE market segment creating opportunities in the EV market, as well.
From a consumer standpoint, the rate adoption of EVs varies from country to country, with cost (be it cost-savings or cost barriers) being one of the top factors.
According to AMN’s sister publication dedicated to EVs, The Buzz, “While internal combustion engine (ICE) vehicles still dominate future vehicle purchase intentions, preference for electrified powertrains continues to rise. Overall, the global shift to EVs is occurring at different speeds as individual markets face varying challenges to adoption, including cost and availability of charging infrastructures.”
Citing data from Deloitte’s 2023 Global Automotive Consumer Study, The Buzz noted that “Despite mounting concerns about climate change and reducing emissions, lower fuel expenses are the top reason consumers choose EVs in the U.S., Germany, India, Japan, the Republic of Korea and Southeast Asia, in an effort to reduce vehicle operating costs.”
In the U.S., intent to purchase hybrid electric vehicles (HEV), plug-in hybrid electric vehicles (PHEV) and all-battery powered electric vehicles (BEV) are each up by 3 percentage points from 2022. Globally, consumer interest in BEVs is highest in China (27%, up 10 points year-over-year).
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By OReilly Auto Parts
SPRINGFIELD, Mo., Feb. 22, 2023 (GLOBE NEWSWIRE) -- After 65 years of serving the automotive aftermarket across the United States and in Mexico, O’Reilly Automotive, Inc. (“O’Reilly”) (Nasdaq: ORLY) will celebrate the opening of its 6,000th store in Fort Gibson, Oklahoma. This milestone will commemorate the continued excellent customer service and dedication of O’Reilly Professional Parts People throughout the Company. The opening of the 6,000th store will kick off with a day-long celebration on February 23, 2023, and reflect on the Company’s 65-year journey of growth and success. All community members are welcome and encouraged to attend the celebration, which will begin at 1200 South Lee Street, Fort Gibson, Oklahoma at 11 a.m. with a ribbon-cutting ceremony.
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By Counterman
In our cover story for
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AMN/CM: What are your thoughts about the business environment for the automotive aftermarket in 2023?
LP: We believe that most market drivers will be very positive for the aftermarket in 2023 and expect that the overall business environment will also be very positive. Fuel prices should remain stable, allowing miles traveled to continue to grow. We see the number of vehicles on the road between six and 12 years old at the highest level in years. The overall fleet age is the highest in history, providing tremendous repair opportunities as new-car sales continue to lag and used-car values remain high. More vehicles, driving more miles in their prime repair and maintenance age, with fewer warranties, will provide a strong market environment in the coming year.
AMN/CM: Has your business been impacted by labor and supply chain issues this past year? If so, how did you address this?
LP: Supply chain issues continued to be a challenge in the past year, although we saw improvement as the year went on. We worked closely with our supplier partners to provide data and information and alter processes where possible. We recognize that to achieve improvement requires collaboration, and our focus was to find ways together to support strong sales increases while dealing with supply disruptions. We are thankful for our supplier partners and the help and support they provided, and we look forward to a return to more “normal” challenges in the future.
AMN/CM: How is the ongoing Right to Repair issue impacting your business?
LP: As the industry continues to go through transition, the need for vehicle repair and outstanding customer service not only affects our industry but impacts most businesses and individuals as well. Restrictions on where and who can repair vehicles will impair safety and air quality and cause consumers to postpone or avoid needed maintenance and repair. Higher costs for transportation impact budgets, reducing funds available for food, shelter, education and other basic needs. Restricting the Right to Repair will also eliminate jobs and lessen the ability for others to work. The Right to Repair issue is about so much more than the impact on our organization and other businesses in our industry. It is about the effects on the mobility of our entire society and all of those who provide or rely on transportation for their livelihoods.
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By OReilly Auto Parts
SPRINGFIELD, Mo., Feb. 08, 2023 (GLOBE NEWSWIRE) -- O’Reilly Automotive, Inc. (the “Company” or “O’Reilly”) (Nasdaq: ORLY), a leading retailer in the automotive aftermarket industry, today announced record revenue and earnings for its fourth quarter and full-year ended December 31, 2022. The results represent 30 consecutive years of comparable stores sales growth and record revenue and operating income for O’Reilly since becoming a public company in April of 1993.
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By Counterman
The University of the Aftermarket Foundation (UAF) reminds students that March 31 is the deadline to submit applications on their Aftermarket Scholarship Central websites at
link hidden, please login to view and link hidden, please login to view link hidden, please login to view link hidden, please login to view. Interested parties can text their name and email address to 720-903-2206 to receive information, reminders and updates about the University of the Aftermarket Foundation scholarship program.
Hundreds of scholarships, including scholarships for engineering, finance and IT/cybersecurity fields of study, will be awarded for the 2023-2024 academic year to students enrolled in four-year and two-year colleges as well as ASE/NATEF-certified automotive, collision and heavy-duty/diesel post-secondary programs.
In 2022, 461 scholarships totaling $731,350 were awarded.
The foundation’s AutomotiveScholarshps.com and HeavyDutyScholarships.com websites are streamlined, mobile-ready portals with easy navigation and a simplified online application process for students interested in careers in the motor vehicle aftermarket. By completing a single application
link hidden, please login to view, students will be considered for multiple scholarships for which they are eligible. The websites allow applicants to view the details of all scholarships available and continue to update their application until the March 31 deadline. “We encourage everyone, including aftermarket industry organizations and individuals, to share the websites and March 31 deadline with their friends, family and colleagues so interested students are aware and have plenty of time to apply,” said Mike Buzzard, chairman of the University of the Aftermarket Foundation scholarship committee.
A complete list of scholarships offered by UAF and affiliated industry organizations is featured on the websites with links to information outlining each organization’s scholarship details, eligibility requirements and awards. To be considered for as many scholarships as possible, UAF urges applicants to read the individual pages thoroughly to ensure they include the proper information required by each organization on their application.
To learn about the University of the Aftermarket Foundation, visit
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