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LKQ market predictions for 2024

By autotech-nic on January 22, 2024

LKQ Chief Executive Kevan Wooden, reveals his predictions for the independent aftermarket this year

The newly appointed Chief Executive has said he expects more garages to invest in training and equipment to service Electric Vehicles and its training arm LKQ Academy will cater for increased demand for EV & hybrid skills.

He envisages motor factors joining forces to champion garages and help the industry address challenges such as enforcing the Motor Vehicle Block Exemption Order, and to support a replica scheme to the EUs SERMI, which will provide criminal background hecks on technicians to vet them for work on vehicle security systems.

Wooden stated: “The EV transition will continue to influence motor factors’ and independent garages’ direction of travel in 2024. Simply put, those that fail to prepare risk falling behind in the market, with plug-in vehicles representing a major, growing share of all new and used car sales.

“The transition to EVs represents a multifaceted challenge, from upskilling thousands of technicians UK-wide – to finding innovative solutions for fixing and maintaining these vehicles. We’ll continue to rise to this challenge and to support independent garages, with 2024 representing a pivotal year for progress – despite the ICE ban delay to 2035.”

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