Selling car parts and accessories is booming.
In the past two years, sales of car parts have more than doubled, and the average price for a new car has more than tripled, to $14,000, according to a report by research firm AutoTrader.
The industry, which has been struggling for years with the shortage of parts for cars, is bracing for a surge in demand.
While demand for car parts is still relatively low, the industry is anticipating that sales of automotive parts will more than double by 2021, to nearly $2.2 billion, AutoTrading said.
Many consumers don’t realize how expensive their car parts are, and it can be a frustrating experience, said CarTrader CEO Tom Jost.
There’s been a lot of talk about it over the last couple years, and we see a lot more awareness, and a lot less cynicism about it, he said.
The report predicts the market will double by 2023.
When you buy your car, it’s a car that you put your money into, and you want to be able to have it for as long as you want.
There’s a lot to be concerned about with the car industry.
Automakers are facing increasing competition from electric and hybrid vehicles, and some are taking steps to try to reduce the impact on the environment, Jost said.
A recent survey of car buyers by the International Council on Clean Transportation found that about 80 percent of respondents felt that cars would have to be recharged more frequently in the future, which could lead to fewer people walking to the shop and more time spent in traffic.
If we’re going to have a future of mobility, we need to do it smarter, Joodles said.