Semiconductor shortage ‘bodes well for aftermarket’ – ECP boss

Andy Hamilton, CEO of LKQ Euro Car Parts has said that while global supply problems in the new car market are causing serious issues for many, for a few there will be opportunities.

Andy Hamilton, CEO of Euro Car Parts

“The semiconductor supply crunch, coupled with broader global shipping challenges, helped to make it a year of significant growth for used car sales. Demand was especially hot for cars under three years old as drivers grew tired of long waits for new vehicle orders,” explained Hamilton.

“All of this bodes well for the aftermarket, as 2021’s comparatively fallow year for new car sales will nudge up the average age of the UK’s parc over the long-term”.



Hamilton added that, unsurprisingly, the types of vehicles on the road will change when high-volume orders for new vehicles return. “The data also tells a story of how the aftermarket will need to adapt in order to thrive over the coming years,” he said.  “Transactions for used hybrid and electric vehicles hit new highs last year, and the rising popularity of automatic transmissions, which now out-sell manual cars in the new vehicle market, is beginning to be reflected in the used space. Similarly, the growth of ADAS-equipped vehicles and the sophistication of other on-board systems is becoming ever more prevalent in older vehicles”.

“We’re ramping up our range of training and support services to help the independent sector lean into these shifting trends. Staying ahead of the game now will help garages to quickly seize the new opportunities being created by the increasing number of times relatively newer vehicles are changing hands in the used car market.”

Published by Greg Whitaker

Editor of CAT Magazine and an experienced motoring journalist @GregWhitaker5

Legal hand car washes “outnumbered” by illegal sites as £2.5m in fines handed out

Home Office data revealed that 87 hand car washes across the UK were fined some £2.5 million for ‘right to work’ offences in 2023

Read More

Record visitor numbers at UK Garage & Bodyshop Event

Over the two days, the event welcomed an impressive 5125 industry professionals at the NEC in Birmingham

Read More

IAAF launches “myth-busting” Right to Repair campaign

It will focus particularly on the updated Motor Vehicle Block Exemption Order

Read More

Movers & Shakers: New chairman for VLS

All the latest changes from across the sector, including new roles, promotions, and retirements

Read More

Delphi Academy launches “pioneering” hydrogen training course

The two-day ‘advanced hydrogen’ training course promises a deeper understanding on the principles of hydrogen fuel cell

Read More

Go to comments

Your email address will not be published. Required fields are marked *