Dramatic Change in Vehicles on U.S. Roads: Lang Study
The new century is starting with a much different mix of cars and light trucks on U.S. roads, according to James A. Lang, president of Lang Marketing Resources, Inc., a Wyckoff, N.J., research and consulting firm specializing in the vehicle products industry. "Domestic cars and light trucks slipped from 80 percent of the 1990 light vehicle population to 71 percent of cars and light trucks on the road as of Jan. 1, 2000," Lang said. While the domestic light vehicle population increased only 7 million units over this 10-year period, the number of foreign cars and light trucks (imports and transplants) soared more than 14 million, climbing from 35.2 million to more than 59 million vehicles on U.S. roads at the beginning of 2000, according to Lang. "While the domestic car and light truck population increased at an average rate of only 0.5 percent, the foreign vehicle count in the U.S. soared at a 5.3 percent average annual pace between 1990 and 2000," Lang said. There was also a significant change in the mix of cars versus light trucks in the U.S. At the beginning of 1990, passenger cars held a dominant position among light vehicles, accounting for 71 percent of light vehicles in operation. However, by Jan. 1, 2000, cars shrank to only 62 percent of light vehicles on U.S. roads, according to Lang. "At the same time, light trucks soared from 29 percent to 38 percent of the light vehicle population in the U.S.," Lang said. "The average growth pace of light trucks in the U.S. was 15 times that of passenger cars between 1990 and 2000, 4.4 percent versus only 0.3 percent." These dramatic shifts in the mix of light vehicles on U.S. roads will have substantial consequences for the volume, brands and types of aftermarket products sold during the first decade of the new century, according to Lang. "The growth in foreign vehicles will increase the service market share of vehicle dealers, foreign specialists, and repair specialists," predicted Lang. "Likewise, the light truck population surge will fuel the growth of accessories which will outpace the sales increase of replacement parts and capture and expanding share of light vehicle aftermarket product volume in the U.S.," Lang said. About Lang Marketing Resources, Inc. This analysis is from The Lang Report, a 16-page monthly report covering the vehicle products industry. For more information and free sample copies, contact Lang Marketing Resources, Inc., PO Box 32, Wyckoff, NJ 07481, call (201) 652-5220, fax (201) 652-5324, or e-mail sample@langmarketing.com. Visit www.langmarketing.com for more aftermarket information.
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