American Automotive Trust acquires properties utilized to provide vehicle rental, repair and aftermarket services. The available pool of repair and service real property includes real estate leased to retail parts chains, wholesale distributors, jobber stores, full and limited service vehicle repair chains, and tire only retail and service locations. The U.S. automotive aftermarket industry is forecast to have annual sales in 2005 in excess of $269 billion. This figure excludes work performed under warranty. The following chart provided by the Automotive Aftermarket Industry Association (AAIA) summarizes the past eight years of aftermarket performance. Growth per annum has exceeded 3.4% in every year since 1998. Growth Rate of U.S. Motor Vehicle Aftermarket Source: Automotive Aftermarket Industry Association The aftermarket includes sales and service of replacement parts, accessories, maintenance items, batteries, automotive fluids, and replacement tires. The industry is comprised of the Do-It-Yourself (DIY) market and the Do-It-For-Me (DIFM) market segments. The DIY category represents sales to consumers who maintain and repair vehicles themselves. This category is characterized by stable, recession-resistant demand as the DIY customer is more likely to delay a new vehicle purchase during a recession. In difficult economic times, people tend to drive more and use air travel less, and consumers tend to retain their vehicles longer. Vehicles thus move into an age category where repairs are needed. In turn, in an improving economy, the need-based characteristics of DIY customers still exist as DIY consumers perform more preventative maintenance. From 1999 to 2003, the DIY category grew at a 4.4% compound annual growth rate from approximately $29 billion to $34 billion, according to the Automotive Aftermarket Industry Association. The DIFM category also has grown. DIFM parts and services typically are purchased by vehicle owners who are less price sensitive or less inclined to repair their own vehicles. This category represents sales to professional installers, such as independent garages, service stations and auto dealers. From 1999 to 2003, the AAIA indicates that DIFM aftermarket sales increased at a 4.6% compound annual growth rate from approximately $60 billion to $72 billion.