Average vehicle age in the US rises to 12.2 years up from a record 12.1 years in 2021; supply chain challenges cont… https://t.co/CEHd5EGQgB
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Average Age of Vehicles in the US Increases to 12.2 years, according to S&P Global Mobility
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Greater China's light vehicle vehicles in operation (VIO) boasts average 19% annual growth in the past decade. The Greater Chinese light vehicle VIO count will exceed 300 million units for the first time in 2023. This will account for 21% of the global VIO, closely following the tracks of North America (24%) and Europe (28%).In 2027, Greater China will surpass North America as the second-largest light vehicle aftermarket in the world. Meanwhile, Greater China is already leading new technology deployment in the automotive industry, e.g., BEV VIO account for 48% of global BEV VIO in 2023. It is important to understand how to effectively capture aftermarket opportunities in Greater China and what the potential challenges or opportunities are. IHS Markit would like to invite you to our webinar to review the Greater Chinese VIO Forecast and understand the business opportunities. The webinar will cover topics such as: What are the aftermarket size per vehicle age group and business opportunities? When is the right timing to map new business? How do you target new business partners? Which vehicle brands will benefit from the Greater Chinese market? Who are the key players in the Greater Chinese aftermarket?