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Boston Small Business Update: Auto Parts Sales Accelerate

Sep 18, 2020 7:52:00 AM / by Larry Julius

There are more than 3,000,000 vehicles registered in the Boston area. Many need new windshield wipers, shocks, struts, brakes, air filters, ignition coils, and the hundreds of other items that fill the shelves of local auto part dealers.

Despite the pandemic induced slowdown, business at auto parts stores has grown nearly 13% since February, according to the US Census Bureau.

This explosive growth in auto parts sales directly relates to the  average age of cars on Boston's roads.

"Per the latest study from IHS Markit, the current combined average age of vehicles has hit a record of 11.9 years," Rimmi Singhi wrote this week on NASDAQ.com. "The aging vehicles are a boon to auto parts, replacement, and repair companies. In a bid to ensure long-term functioning of the aging vehicle population, customers are making investments to replace faulty vehicle parts and components."

Also contributing to the rapid aging of cars on the road is the current demand for used versus new vehicles. According to the Bureau of Economic Analysis, the personal consumption expenditures (PCE) for used cars is 25% higher in August than it was during the same month last year.

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Topics retail, best way to advertise, radio advertising, small business owner, small business marketing, small business, small business advertising, used cars, automotive, used trucks, used vehicles, retail sales, retailer, retail store, car repair, auto parts

Why Used Car Dealers In Boston Should Advertise Now

Feb 13, 2020 5:02:03 PM / by Larry Julius

March is the biggest single month for used car sales in the Boston area. During these 31 days alone, local pre-owned vehicle dealers are expected to bring in $189 million in sales. This will represent 10% of their annual revenue.

By the end of May, these dealers owners will sell more than $525 million worth of pre-owned cars and trucks. This, undoubtedly, makes March-May 'used car season' in New England

Although most Boston area used car dealers are small business owners, they do really big business. In all, over the next 12 months, more than 650,000 pre-owned vehicles will be driven off their lots.

To capture a larger share of the area's $1.9 billion used car market requires pre-owned vehicle dealers to advertise. By any measure, the best way for these business owners to advertise is on Boston radio.

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Topics best way to advertise, newspaper advertising, radio advertising, consumer spending, small business owner, online advertising, social media advertising, television advertising, small business, facebook advertising, pandora, spotify, digital advertising, used cars, automotive, used trucks, used vehicles

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