Digital Auto Care Factbook & Lang Annual 2016 - (Page 6)

RECAP FROM AFTERMARKET DYNAMICS (AAPEX) 1 . Annual Average price of WTIC Global Oil prices as measured by West Texas Intermediate Crude (WTIC) averaged well under $20 a barrel during the 1990s. Increased global demand, inflation, and military conflict drove oil above $140 a barrel in 2008. A slowing global economy, enhanced fuel efficiencies, and use of new technologies such as wind, solar, and especially hydraulic fracturing have increased the supply of electricity, oil and natural gas especially in the United States. With WTIC below $50 a barrel in March of 2015, long run, lower oil prices if sustainable, should bode well for the U.S. motor vehicle aftermarket. 2 . Global GDP Growth Per the chart to the left, the U.S. economy has grown at a slower pace than the global average and certainly slower than of China since 2000. The U.S. economy has grown at an average rate of 3.3 percent since the end of World War 2, yet is only growing at roughly 2 percent since the U.S. economy began its recovery in 2010. Many experts believe that an enhanced regulatory and tax burden over the last decade is responsible for slowing growth in the United States relative to the rest of the world. 3 . New Tax Changes tied to the PPACA The Patient Protection and Affordable Care Act (PPACA) continue to be debated for its efficiency and effectiveness. What many Americans do not realize is that there were numerous tax increases outlined in the act to pay for its implementation. Per the chart below, the top Medicare tax rate went from 1.45 percent in 2013 to 2.35 percent in 2014. The top personal income tax bracket went from 35 percent to 39.6 percent as a result of the law with top income payroll tax rates, capital gains tax rates, dividend tax rates and estate tax rates all increasing dramatically as a result of the passage of the PPACA. 4 . 2014 Average Corporate Tax Rates Perhaps the most important debate that must take place in Washington, DC in 2015, is the one surrounding U.S. competitiveness and tax reform. The United States remains the largest and most competitive economy in the world, but as depicted above is at a tremendous tax disadvantage relative to the rest of the world. Based on the data provided by KPMG, one of the world's foremost international tax firms, U.S. businesses are at a competitive income tax disadvantage by region, globally, and certainly as a country. According to KPMG, the U.S. at 40 percent, has the highest average income tax rate in the industrialized world. Pro business tax reform in the U.S. is a must, if American businesses are to compete, thrive, and grow in the ever-complex global economy of the future. This summary was prepared by Dr. Timothy G. Nash, Vice President and the Fry Endowed professor in Free market Economics at Northwood University. 6 2016 Digital Auto Care Factbook Copyright © 2015 Auto Care Association

Table of Contents for the Digital Edition of Digital Auto Care Factbook & Lang Annual 2016

Auto Care Association Market Intelligence Committee
Economic Indicators
Key Economic Indicators
National Debt
Aftermarket Dynamics
Industry Employment
Technician Employment and Wages
What Do Our Members Think?
Auto Care Association – Lang Market Comparison
BCI Summary
State of the Auto Care Industry
U.S. Motor Vehicle Auto Care Industry
Introduction to the Channel Forecast Model
2014 to 2018 Forecast Assumptions
U.S. Motor Vehicle Auto Care Industry
Auto Care Sales History and Forecast 2007 to 2018
Auto Care Sales by Distribution Channel
Auto Care Segmentation
Auto Care Service and Retail Outlets
Auto Care Service and Retail Outlet Analysis
Program Distribution Summary
Retail Distribution Summary
e-Tailing
Financial Benchmarks
Financial Profiles of Select Auto Care Companies
Select Auto Care Transactions
Auto Care Industry
Consumer Profile
Replacement Rates for Motor Vehicle Parts and Jobs
Top 10 Replacement Rate Categories By Vehicle Age
Tool and Equipment
Auto Care Industry Segments
Medium And Heavy Duty Truck Industry
Sales of Replacement Tires
Paint, Body and Equipment
BodyShop Business Industry Profile: 2013-14
U.S. Total Motor Vehicle Population
Vehicle Registrations and Usage
U.S. New Motor Vehicle Registrations
Top 10 Light Vehicle Registrations
Hybrid Vehicles
Vehicle Operating Costs
Miles Driven vs. Gasoline Affordability
Gasoline Affordability and Fuel Consumption
Crude Oil and Diesel Fuel Costs
State Summary Statistics
State Summary Statistics
Global Auto Care Industry
Global Economic and Automotive Data
U. S. Trade Data for Selected Motor Vehicle Products
U. S. Trade Data By Country
Canadian Auto Care Industry
Glossary and Reference
Mexican Auto Care Industry
Chinese Auto Care Industry
Glossary and Terms
NAICS Definitions
Auto Care Data Resources
Auto Care Data Resources
Auto Care Association Market Intelligence
Auto Care Association Market Intelligence
Harmonization of Auto Care Industry Data
2016 Lang Aftermarket Annual
Introduction
Aftermarket Highlights
Executive Summary
Aftermarket Size
Product Sales Analysis
Service Market
Service Market Outlet Performance
Do-It-Yourself Market
Do-It-Yourself Market Outlet Performance
Aftermarket Analysis by Type of Vehicle
Vehicle Age
Distribution Channels
Aftermarket Outlet Analysis
Purchased Service
Vehicle Analysis
Accessories and Specialty Equipment Volume
Market Dynamics
Glossary of Aftermarket Terms
Appendix

Digital Auto Care Factbook & Lang Annual 2016