The sluggish economy has curtailed new car sales, and the cash-for-clunkers program is long gone, but there are pockets of growth. One area that is growing is the parts aftermarket as consumers keep their older cars which require replacement parts to keep driving.
Companies such as General Automotive Co. that focus on the parts aftermarket are reporting growth amid the generally poor-performing automotive industry.
The parts aftermarket is huge – approximately $240 billion annually in the United States.
This is good news for at least part of the parts industry.
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