NAICS 4413 - Automotive Parts, Accessories, and Tire Stores
This industry comprises one or more of the following: (1) establishments known as automotive supply stores primarily engaged in retailing new, used, and/or rebuilt automotive parts and accessories; (2) automotive supply stores that are primarily engaged in both retailing automotive parts and accessories and repairing automobiles; and (3) establishments primarily engaged in retailing and installing automotive accessories.
Industry trends:
The automotive parts, accessories, and tire stores industry (NAICS 4413) is experiencing several noteworthy qualitative trends. A significant trend is the increasing consumer shift toward e-commerce for purchasing automotive parts and accessories. This shift is driven by the convenience of online shopping, a wider selection of products, and often lower prices. As a result, many traditional brick-and-mortar stores are adopting omnichannel strategies to integrate their online and offline experiences seamlessly.
Another trend is the growing popularity of electric vehicles (EVs), which is influencing the types of parts and accessories in demand. EV-specific components, such as charging equipment and specialized tires, are becoming more prevalent. As more manufacturers prioritize sustainability, there's also a rise in demand for eco-friendly and energy-efficient automotive parts.
Customization and personalization of vehicles are also on the rise, with consumers increasingly seeking unique accessories and upgrades to make their vehicles stand out. This trend is particularly strong among younger demographics who view their vehicles as an extension of their personal brand.
Additionally, advancements in technology are leading to smarter, more connected automotive accessories. Products such as advanced driver-assistance systems (ADAS), smart tires with integrated sensors, and other IoT-enabled accessories are becoming more commonplace.
Looking ahead, the industry is forecasted to continue evolving with these trends. E-commerce will likely play an even greater role, and as electric and hybrid vehicles become more mainstream, the market for traditional combustion engine parts may see a gradual decline. Furthermore, ongoing advancements in automotive technology will continue to drive innovation in product offerings.
This industry is comprised of:
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