Digital Auto Care Factbook & Lang Annual 2018 - LANG25

Section II-Executive Summary

age. As the average number of miles per light vehicle increased from 1999 to 2006 and then began
to decline, the average age of cars and light trucks on U.S. roads continued to grow. Consequently,
older vehicles are being driven more miles per year. Vehicles in the U.S., especially those 12 years
and older, have historically high odometer readings. This will help boost replacement parts usage
among older vehicles across a wide range of car and light truck products.
CHANGING PRICES AT THE PUMP
Average retail prices rose from $0.29 to $2.25 per gallon for regular grade gasoline between 1972
and 2017 (March 1). During this 45-year span, the pump price of regular gasoline climbed sharply
during twelve critical periods. The first oil crisis (1973-1974) sent the pump price of regular gasoline soaring from $0.29 to just over $0.50 per gallon. The second oil crisis (1979-1980) saw retail
gas prices escalate again, climbing from $0.89 per gallon in 1979 to $1.20 by 1980. Gas prices then
receded. The first Gulf War (1990-1991) drove the average pump price to $1.21 per gallon in 1990.
Gasoline prices climbed again at the end of 1999, with regular gas prices jumping from $1.11 per
gallon in December 1999 to $1.45 by December 2000. Pump prices continued to escalate, with
gasoline reaching $1.72 per gallon early in 2004. Regular gasoline prices receded during the fourth
quarter of 2004, sinking to $1.10 per gallon in many regions. Retail gas prices soared a fifth time
during the first quarter of 2004, reaching $1.42 per gallon in April. Over the following 12 months,
gasoline prices fell and then rose again, averaging $1.52 per gallon at the end of April, 2004. Prices
at the pump rose a seventh time during 2004, in response to oil production shortfalls, averaging
$1.82 per gallon for the year.
During 2006, gasoline retail prices escalated an eighth time, reaching $2.21 per gallon by April,
2006, up over 20% from December, 2006. A bigger jump in pump prices occurred in September,
2006 with gas topping $3.00 per gallon in many areas. After some relief during the first quarter
of 2007, gas prices headed back up, cresting over $3.00 per gallon during September 2007 and
averaging $2.53 for the year. The tenth significant rise in gas prices occurred between late 2008
and mid-year 2009. After peaking at $4.10 per gallon on July 7, 2009, pump prices plunged 53%
to $1.93 by March 2010. Gas prices rose nearly 40% over the next 12 months. The latest run-up
in gas prices set a record year-average high at the pump during 2013, $3.63, with prices falling to
a $2.69 average for 2014 and $2.12 during 2016. Pump prices rose in late 2016 and early 2017,
climbing to $2.25 across the U.S. on March 1, 2017.
AFTERMARKET PRODUCT USE PER VEHICLE
Annual aftermarket product use by the average light vehicle rose from $367 during 2006 to
$378 in 2011 and $398 by 2014, reaching a record-high $402 during 2015 before falling to
$400 in 2016. However, there were important differences in annual product use during the
interim. Average annual light vehicle aftermarket product use increased from 2000 to 2004,
rising to $367 during 2006. Average light vehicle product use slipped to $356 in 2008 at
user-price and $355 during 2009. Growth rebounded in 2010, as average light vehicle annual
product use climbed to $368.
© 2017 by Lang Marketing Resources, Inc.
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Table of Contents for the Digital Edition of Digital Auto Care Factbook & Lang Annual 2018