Aftermarket Business Leaders More Confident About Future
Reported in Inaugural AAIA/Northwood University Business Confidence Index Results
BETHESDA, MD – March 1, 2011 – The Automotive Aftermarket Industry Association (AAIA) and Northwood University report the inaugural results of their joint Business Confidence Index for January 2011 show that aftermarket business leaders were roughly twice as confident in the future of the automotive aftermarket over the next 12 months, than they were regarding the economy in general.
AAIA members completed the first monthly index survey and data shows that:
- Twenty-one percent of respondents were significantly more confident about doing business in the aftermarket over the next 12 months, while 50 percent were slightly more confident over the same period.
- Only 4 percent were significantly more confident in the economy over the next 12 months, with 54 percent slightly more confident about the economy over the same period.
The overall AAIA/Northwood University Automotive Aftermarket Business Confidence Index for the month was 42.1, which is on the high-end of “slightly more confident.” A nine-point increase in the index will place it in the 51-100 range, which would indicate that leaders are “significantly more confident” in the aftermarket over the next 12 months.
“Now that we have established a base level month, we will be able to correlate future changes in the indices to industry and economic factors more closely,” said Dr. Timothy Nash, Northwood University. “We believe these Confidence Indices will play a major role in predicting and/or validating major trends in the automotive aftermarket and the economy over time.”
“The new Business Confidence Index is one more exclusive association market intelligence resource for our members,” said Kathleen Schmatz, AAIA president and CEO. “Gauging the insight, perceptions and vision of top industry leaders about the direction of the aftermarket will be a major factor in strategic planning.”
“Northwood University is pleased to partner with AAIA on this very important industry metric,” said Dr. Keith Pretty, president and CEO, Northwood University. “We believe the indices and future findings will be invaluable to the industry, our students and students of the industry in general.”
The second installment of the survey will be sent to members on Tuesday, March 1. The deadline for having survey responses back is Tuesday, March 8. Results will be calculated monthly and reported in AAIA SmartBrief. Member responses will be used solely in the aggregate and for the purpose of providing empirical information.
For more information, contact AAIA market intelligence at 301-654-6664.
About Northwood University
Northwood University is committed to the most personal attention to prepare students for success in their careers and in their communities; it promotes critical thinking skills, personal effectiveness and the importance of ethics, individual freedom and responsibility. Private, nonprofit and accredited, Northwood University specializes in managerial and entrepreneurial education at three full-service, residential campuses located in southern Florida, mid-Michigan and northern Texas. Adult Degree Program centers are available in eight states with many course delivery options including an online option. The DeVos Graduate School offers full-time, evening and industry specific master’s degree programs for entrepreneurs and executives in Michigan, Texas, Florida and Switzerland. The Alden B. Dow Center for Creativity and Enterprise in Midland, Mich. specializes in creative thinking and innovation development. International education is offered through study abroad and in Program Centers in Switzerland, China, Malaysia and Sri Lanka.