ARLINGTON, VIRGINIA (PRWEB) March 04, 2016
A new Auto Care Industry Index (ACII), developed by the Auto Care Association and Hanover Research, has revealed that the automotive aftermarket industry has been more stable over the last 10 years than the Standard & Poor 500 and Dow Jones Industrial Average. The Index is a first of its kind tool to diagnose the health, trends, and hidden opportunities for the auto care industry. It is designed to select, adjust, and statistically test robust industry performance indicators. Previously, there were no existing indices that accurately and comprehensively captured the health of the auto care market and anticipated trends. Additionally, an ACII sub-index has indicated that employment in the auto care industry is more stable than the Bureau of Labor Statistics indices for construction and retail.
The Auto Care Association, located in Bethesda, Maryland, provides advocacy, educational networking, technology, market intelligence, and communications resources to a $300 billion network of businesses, and findings from the Index inform the Auto Care Association’s ongoing industry evaluations.
Behzad Rassuli, Vice President of Market Intelligence at Auto Care Association, says the ACII developed in partnership with Hanover Research has bolstered its overall strategy, and enabled them to “execute sophisticated and innovative methodologies that best support our organization’s strategic direction and product vision.”
Anirban Ghosh, Quantitative Research Manager at Hanover Research, a Washington, DC-area based research and analytics firm, says that his team deployed a variety of statistical methods to create this new tool, resulting in “a robust index unprecedented in the automotive aftermarket industry.”
To learn more about the ACII, please view the complete case study here: http://bit.ly/1LWQDaa
To learn more about how Hanover Research, visit http://hanoverresearch.com.
To learn more about the Auto Care Association and the ACII, visit http://www.autocare.org.
About Hanover Research: Founded in 2003, Hanover Research is a global research and analytics firm that provides high quality, custom research through an annual, fixed-fee model for clients in the corporate, education, and healthcare sectors. Headquartered in Arlington, Virginia, Hanover employs high-caliber market researchers, analysts, and account professionals to deliver a robust service infrastructure that is revolutionary in its combination of flexibility and affordability. To learn more about Hanover Research, visit http://www.hanoverresearch.com.
About the Auto Care Association: Based in Bethesda, Maryland, the Auto Care Association has more than 3,000 member companies that represent some 150,000 independent automotive businesses that manufacture, distribute and sell motor vehicle parts, accessories, tools, equipment, materials and supplies, and perform vehicle service and repair. Visit http://www.autocare.org.