The auto-part industry has been on the ropes for years, but now that it is in a recovery phase, it seems to be on a much stronger footing than ever before.
That’s because the number of auto parts sold has nearly doubled since 2013, according to a new report from market research firm J.D. Power.
And the industry is poised to reap an even bigger windfall in the near future, according the report.
“This recovery is coming.
This recovery is going to be massive,” said Michael J. Kranish, J.P. Morgan Chase & Co. chief investment officer.
“And that’s what you’re seeing with auto parts sales.”
D Power has been tracking the auto parts industry since 1995, when the company began tracking it.
The firm recently published a report that looks at the industry’s impact on the U.S. economy and job growth.
It found that auto parts manufacturing, once a sector with a $2.2 trillion market value, now accounts for about 2.4 percent of the overall economy.
The industry has also grown at an annual rate of almost 12 percent since 2010, thanks to a surge in demand for parts and increased sales in the past few years.
The auto parts boom in the U: What you should know about itRead moreThe auto-repair industry has grown to become the second-largest in the world, overtaking the aerospace sector, which accounts for roughly half of the global aerospace industry.
The aerospace industry employs 1.2 million people.
“The auto industry has a lot of potential to create new jobs and boost the economy,” said Robert Litan, chief executive officer of the National Auto Parts Association.
“The auto sector can be a great economic engine.”
But there are some concerns about the impact of auto-manufacturing.
The report found that manufacturing is still a big challenge for many auto-dealers, with an average of 3.2% of U..
S.-based auto-service companies reported to have significant losses or were insolvent in the last year.
And with new safety regulations on the horizon, auto-services companies will need to be better at maintaining the quality of parts and the safety of their workers, Jardine said.
Jardine pointed to the case of DaimlerChrysler, which announced in January that it was reducing the number the company is manufacturing parts in Germany to 5,000 from 35,000.
Daimlers parent company also announced in March that it would reduce its auto-assembly workforce by a third, cutting 7,000 jobs.
But the auto industry is also taking on a new role as an asset class for the U, where the auto maker’s stock has climbed to more than $130 a share, according a recent report from Goldman Sachs.
This is a rare position for a major U.N. agency, which traditionally has been more focused on economic issues like health and climate change.
“It’s a bit ironic that the UNAIDS [United Nations Association of the Manufacturers and Exporters] report is about jobs and trade,” said Kranis Litan.
“It’s about the UnaIDS report that’s about jobs.
It’s a very global, global issue.
And it’s also very much about the economic situation in the United States.”