Market Insights with Mike: Signs of Another Challenging Spell for the Auto Care Industry and Economy at Large
By Camille Sheehan
BETHESDA, Md. – July 9, 2020 – This edition of Market Insights with Mike highlights recent trends in vehicle miles traveled that are encouraging, but perhaps offset by other statistics that loom as indicators of another rough patch for the U.S. economy and the aftermarket.
As of late June, vehicle travel has steadily ascended to pre-pandemic levels – since mid-April, passenger vehicle travel has gradually climbed back up to “normal” levels as states and municipalities have re-opened.
While individuals are gradually venturing out more, the increase in cases, particularly in Southern and Western states, is leading to mandates to restrict business activity. This is likely going to reduce vehicle activity and negatively impact the national economy.
To view the latest edition of Market Insights with Mike, click here.
About Market Insights with Mike:
Market Insights with Mike is a new series presented by the Auto Care Association’s Director of Market Intelligence, Mike Chung, that is dedicated to analyzing market-influencing trends as they happen and their potential effects on your business and the auto care industry.