In the inaugural edition of “Market Insights with Mike,” Mike Chung, director, market intelligence, Auto Care Association, highlighted trends in vehicle miles driven and launched a survey to learn about the impact of COVID-19 on the aftermarket. In this new piece, Chung highlights the results from the survey.
Traffic continues to stay at nearly 50% below their levels in late February. INRIX reports that the drop in vehicular traffic has flattened a bit in recent weeks – passenger travel was on average 48% lower during the week of April 4-10 than the week of Feb. 22-29.
According to INRIX, the trips have averaged from 8.70-9.40 miles, comparable to the control week (2/22-2/29) value of 9.11 miles.
The Auto Care Association knows that VMT is just one of many data points that can help businesses navigate current uncertainty. As a result, the association is offering free access (to Auto Care Association members) to more than 40 Economic and Industry Indicators in its interactive industry research platform TrendLens.
To read Chungs’s full insights on how the pandemic is impacting the auto care industry, click here.