AIA Canada has released a research tool for aftermarket data that will be updated on a regular basis.
Based on the results of AIA’s 2020 Outlook Study, this tool provides direct access to the desired information. Moreover, the report can be constantly updated with market trends analysis and expert commentary.
According to the developers of this tool, the automotive aftermarket industry is facing rapid change, accelerated by the COVID-19 pandemic, requiring it to be more agile and flexible. As a result, a 100-page plus bi-annual report covering the previous year’s market data, no longer meets future needs. The Aftermarket Outlook Study will still be published every two years, but in a lighter version that includes additional analysis.
The research tool launched this week will provide access to data that will be updated monthly or quarterly, depending on availability, industry collaboration, and member usage and feedback. Essentially a ‘living’ document, the research tool can be adapted to the needs of AIA Canada members looking for specific information relevant to their sector.
The new tool will evolve over time and according to demand. Currently, it is based on the Microsoft Excel platform but could migrate to a more interactive software that would require more investment and resources from AIA and greater technical skill on the part of users. For the time being, the Excel-based platform is available only in English.
The data collected in the AIA Outlook Study allows aftermarket managers to make better informed decisions and strategic objectives for their businesses. They can assess major trends, specify sales targets, or gain a better overall understanding of the market.
At the government level, this constantly updated tool will be useful in understanding the importance of the aftermarket industry in the Canadian economy as a whole.
With the new research tool, all of these stakeholders will be able to quickly find useful and up-to-date figures without having to browse through the entire report.
Industry stakeholders will be able to access data on employment, vehicle sales and mileage, as well as the value of aftermarket activities by region.