In 2017, American consumers spent more money than ever modifying their vehicles. After an eighth straight year of post-recession growth, retail spending on specialty-equipment parts reached $US43 billion in the United States last year, and is currently projected to keep growing, according to the 2018 SEMA Market Report.
Highlights from the report include:
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- Pickups accounted for 29 percent of all dollars consumers spent in 2017 on upgrading and modifying their vehicles.
- In-store purchases accounted for roughly two-thirds of all 2017 retail sales dollars.
- 33 percent of all specialty-equipment consumers were under 30.
- Consumers spent nearly as much buying from specialty automotive retailer websites as they did on in-store purchases.
- 42 percent of all forced induction products (turbochargers, superchargers, and so on) purchased were DIY installed.
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The 2018 SEMA Market Report provides more detail than ever on how the types of products your company sells are purchased, obtained and installed. The report also includes information on specialty automotive consumers, key industry and economic trends and insights into the vehicles on the road.
Additional research can also be accessed, including the latest Industry Indicators Report, which analyzes current economic trends and how they relate to the automotive specialty-equipment industry.
For more information, visit www.sema.org/research and to learn more about the size and shape of the specialty-equipment market, download the just-released 2018 SEMA Market Report.